Security Bank Corporation

Security Bank Corporation is the seventh-largest universal bank in the Philippines. Per a list published by the Central Bank in 2024, the Security Bank has ₱1,301,928.64 million in total assets. It was the first private bank to be created and controlled by Filipinos in the aftermath of WWII. It has over 300 branches nationwide and a network of over 700 ATMs.

Security Bank’s Products

Security Bank offers most of the products common in a universal bank. These products include:

• Accounts: there are 9 accounts available for clients. One all-access account that combines savings and checking, 3 savings, and 3 time deposit accounts. There’s also a third currency account and a junior account for kids and teens. 

• Cards: Security Bank offers 6 MasterCard credit cards, and it also has a bundle of a savings account + credit card with a single application. 

• Loans: it has loans for home or car purchases, plus options for salary advance loans. There are no general-purpose personal loans like other banks have. 

• Investments: it’s possible to invest in Trust Funds and Fixed-Income Securities with Security Bank. Clients can start investing with only ₱1,000 in the available trust funds. Like most banks, it also offers the service to have the investments managed for you. 

All of these products are also available for businesses, though the details and number of offers may change for each product. Notably, Security Bank only offers insurance for businesses, not for personal clients. 

Security Bank’s History

Security Bank was established in 1951 with the name of Security Bank and Trust Company. It was the first privately owned bank controlled by Filipinos to be created post-World War II. During its first years, it started an aggressive opening of new branches in Metro Manila and it had more branches in the area than any other bank. In the 1960s it also started expanding to other provinces at the same fast pace. 

In the 1970s it issued its first credit card in partnership with Diners Club. Security Bank had the exclusive rights to issue Diners Club cards until 2016 when it sold the rights to BDO Unibank. In this same decade, the bank started offering trust fund investment plans that were considered innovative at the time and served as precursors for today’s pre-need and common-trust plans. Finally, in the 70s it was also granted permission to operate in foreign currency by the central bank.

During the 1980s, the Philippines had a period of political crisis, but Security Bank survived the uncertainty and it even widened its investment portfolio in that decade.

In the 1990s the bank had new owners, and in 1994 it received the license to operate as a universal bank. It was then that the name changed to the current Security Bank Corporation. In 1995, the bank was first listed on the Philippine Stock Exchange. The initial public offering was ₱1.5 billion. 

In 2016, Security Bank partnered with the Bank of Tokyo-Mitsubishi UFJ (BTMU), Japan’s largest bank. This partnership turned BTMU into the second-largest shareholder and it allowed Security Bank to gain more capital and improve its global reach.