Security Bank
A Philippine universal bank serving retail, commercial, corporate, and financial-markets customers.
Last updated August 31, 2026
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Overview
Security Bank Corporation is a Philippine universal bank headquartered in Makati. The institution began on June 18, 1951, as Security Bank and Trust Company and was described as the first privately owned and Filipino-controlled bank established in the Philippines after the Second World War. Its early development was marked by an unusually active branch-building program. The bank initially operated in Manila, moved its head office from the Don Roman Santos Building on Plaza Goiti to Escolta in 1954, and expanded beyond Metro Manila during the 1960s, opening its first provincial branch in Angeles City. The bank built a broad commercial role over time. During the 1960s it led a consortium of local and foreign lenders that provided US$62 million to the Lopez family for the acquisition of Meralco, a transaction characterized in the source material as a first of its kind in Philippine banking. In the 1970s, Security Bank issued its first credit card and introduced Diners Club in the Philippine market. It also developed trust products and, toward the end of that decade, received approval to operate a foreign-currency division. During the 1980s it broadened its investment-services activities while continuing to operate through a period of political and economic instability in the Philippines. A change in ownership and leadership direction in the 1990s was associated with the bank's expansion into universal banking. New owners led by Frederick Y. Dy became associated with the institution, and on April 26, 1994, the Bangko Sentral ng Pilipinas granted it a universal banking license. The legal name was changed to Security Bank Corporation, and the bank moved its headquarters to Ayala Avenue in Makati. Security Bank subsequently became a publicly traded company: its shares were listed on the Philippine Stock Exchange on June 8, 1995, following a reported initial public offering of approximately ₱1.5 billion. Security Bank's current business model combines retail banking with wholesale activities. Its major areas include retail, commercial and corporate banking, financial markets, financing and leasing, foreign exchange, stock brokerage, investment banking, and asset management through subsidiaries or related operations. This combination allows the institution to serve individual customers, small and large businesses, institutional clients, and investors. The bank's retail proposition was given greater prominence through the 2014 BetterBanking rebranding campaign, which positioned consumer banking as a complement to its established wholesale franchise. In January 2016, Japan's MUFG, then operating through The Bank of Tokyo-Mitsubishi UFJ, acquired a 20 percent minority stake in Security Bank in a transaction reported at ₱36.9 billion. The partnership supplied additional capital and long-term funding and was intended to create opportunities for international business collaboration, broader retail penetration, and branch-network growth. MUFG became the bank's second-largest shareholder and an equity affiliate. Security Bank remained a Philippine-listed, Philippine-focused institution rather than becoming a wholly foreign-owned bank. The bank's physical and self-service network has been substantial by Philippine standards. The reference material reports that, as of 2021, Security Bank operated 313 branches and 787 ATMs nationwide. As of December 31, 2018, it ranked sixth among private domestic universal banks in total assets and loans, with reported assets of ₱767 billion and a loan portfolio of ₱416 billion, and ranked fifth in capital, with reported capital of ₱109 billion. These figures are historical snapshots rather than current financial data. Security Bank today presents itself as a diversified universal bank whose brand combines relationship banking, digital and branch-based retail services, corporate finance, and financial-market capabilities.
History
Security Bank was established in Manila on June 18, 1951, under the name Security Bank and Trust Company. It was the first privately owned and Filipino-controlled bank of the postwar period in the Philippines. Its original head office was in the Don Roman Santos Building on Plaza Goiti, and the bank moved to Escolta in 1954. During the 1950s it pursued an aggressive branch-expansion strategy and at one point maintained more Metro Manila branches than any other local bank. The institution began provincial expansion in the 1960s, opening its first branch outside Metro Manila in Angeles City and then broadening its presence across the provinces. It also participated in a major corporate-finance transaction during that decade, leading a consortium of Philippine and foreign companies that lent US$62 million to the Lopez family for the purchase of Meralco. The transaction demonstrated the bank's willingness to operate beyond conventional deposit-taking and lending. During the 1970s, Security Bank entered the credit-card market and introduced Diners Club to the Philippines. It also developed trust products and received permission near the end of the decade to operate a foreign-currency division. The bank expanded its investment-services activities in the 1980s, surviving the political and economic difficulties that affected the Philippine financial sector during that period. The 1990s brought an ownership transition associated with Frederick Y. Dy and other investors. On April 26, 1994, Security Bank received a universal banking license from the Bangko Sentral ng Pilipinas. This change led to the adoption of the corporate name Security Bank Corporation and supported a broader business scope encompassing retail, commercial, corporate, investment, and financial-market services. The bank also moved its headquarters to Ayala Avenue in Makati. On June 8, 1995, it listed its shares on the Philippine Stock Exchange after an initial public offering reported at ₱1.5 billion. In 2014, Security Bank sought to give its retail franchise greater visibility through the BetterBanking rebranding campaign. The campaign presented consumer banking as a complement to the bank's traditional wholesale activities. A significant strategic development followed in January 2016, when The Bank of Tokyo-Mitsubishi UFJ, now known as MUFG, acquired a 20 percent minority interest for a reported ₱36.9 billion. MUFG became the second-largest shareholder and an equity affiliate, providing capital, funding, and potential cross-border business opportunities while Security Bank retained its Philippine-market identity. Security Bank's present business scope includes retail, commercial, and corporate banking; financing and leasing; foreign exchange; stock brokerage; investment banking; financial markets; and asset management through subsidiaries or related operations. The reference material reports that the bank operated 313 branches and 787 ATMs nationwide in 2021. It also identifies Security Bank as the sixth-largest private domestic universal bank by total assets and loans in 2018, with reported assets of ₱767 billion and loans of ₱416 billion, and as fifth by capital at ₱109 billion. These are dated historical measures and should not be treated as current rankings.
- 2016
MUFG becomes a strategic minority investor
[1]The Bank of Tokyo-Mitsubishi UFJ acquired a 20 percent stake in Security Bank for a reported ₱36.9 billion.
- 2014
BetterBanking rebranding
[1]The bank launched BetterBanking to reinforce its retail-banking proposition.
- 1995
Public listing
[1]Security Bank Corporation shares were listed on the Philippine Stock Exchange on June 8.
- 1994
Universal banking license granted
[1]The Bangko Sentral ng Pilipinas issued Security Bank a universal banking license, prompting the adoption of the name Security Bank Corporation.
- 1970
Credit-card and trust businesses expand
[1]Security Bank issued its first credit card, introduced Diners Club in the Philippines, and developed trust offerings.
- 1960
Provincial expansion begins
[1]The bank opened its first provincial branch in Angeles City and subsequently expanded across the Philippine provinces.
- 1954
Head office moves to Escolta
[1]Security Bank moved its head office from the Don Roman Santos Building on Plaza Goiti to Escolta.
- 1951
Security Bank and Trust Company is established
[1]The bank was founded in Manila on June 18, 1951, as a privately owned and Filipino-controlled postwar bank.
Products and positioning
A Philippine universal bank combining a long-established wholesale and corporate franchise with an expanding retail-banking proposition, supported by a strategic relationship with MUFG.
Consumer banking
Retail banking
Security Bank's retail business serves individual customers through deposit, payment, lending, card, branch, and self-service banking products. The business became more prominent in the brand's public positioning after the 2014 BetterBanking rebrand, which was intended to strengthen market recognition of consumer banking alongside the established wholesale franchise.
Business banking
Commercial and corporate banking
Commercial and corporate banking is a core part of Security Bank's universal-bank model. It provides financing and related banking services to businesses and institutions, extending the bank's historical role in corporate lending and large transactions such as the 1960s Meralco financing consortium.
Financial markets · 1970
Financial markets and foreign exchange
The bank operates financial-markets activities that include foreign exchange and other market-related services. Its foreign-currency capabilities date to authorization received toward the end of the 1970s, while its broader investment-services portfolio expanded during the 1980s.
Investment banking
Investment banking
Security Bank provides investment-banking services as part of its universal-banking and wholesale offering. The business complements corporate lending, financial markets, and advisory capabilities, although the available reference material does not specify individual current products or transactions.
Asset management · 1970
Trust and asset management
Trust offerings were introduced during the 1970s and became part of the bank's broader wealth and asset-management activities. Security Bank's current scope includes asset management through subsidiaries or related operations, but detailed product-level information is not established in the supplied sources.
Specialty finance
Financing and leasing
Financing and leasing are among the specialized services included in Security Bank's universal-banking portfolio. They extend the bank's lending capabilities beyond conventional deposits and corporate loans.
Credit cards · 1970
Diners Club credit cards
Security Bank introduced Diners Club to the Philippine market in the 1970s as part of its first credit-card business. The bank later sold the exclusive Philippine rights for Diners Club to BDO Unibank in 2016, so this is a historical rather than current Security Bank offering.
Marketing campaigns
- 2014BetterBanking
Philippines
Security Bank introduced BetterBanking as a rebranding campaign designed to improve recognition of its retail-banking business and present it as a complement to the bank's wholesale activities.
Outcome. The campaign established a clearer retail-facing expression for the bank, although the supplied reference does not provide campaign-performance metrics.
Brand decisions
2016
Strategic investment by MUFGM&ABackground
Security Bank was seeking additional capital, funding, retail expansion, and international business capabilities.
Action taken
The Bank of Tokyo-Mitsubishi UFJ, subsequently known as MUFG, acquired a 20 percent minority stake and became the bank's second-largest shareholder and an equity affiliate.
Aftermath
The partnership provided reported capital of ₱36.9 billion, long-term funding, and opportunities for cross-border collaboration and accelerated branch and retail growth.
Transaction value. ₱36.9 billion (January 2016)
2014
Retail-banking repositioning through BetterBankingStrategyBackground
Security Bank sought to strengthen the visibility and market appreciation of its retail business while maintaining its wholesale-banking base.
Action taken
The bank launched the BetterBanking brand platform.
Aftermath
Retail banking became a more explicit part of the bank's market positioning; specific financial effects are not reported in the supplied material.
1994
Transition to universal bankingStrategyBackground
Security Bank had expanded its activities beyond basic commercial banking into investment, trust, foreign-currency, and related financial services.
Action taken
The Bangko Sentral ng Pilipinas granted the institution a universal banking license on April 26, 1994, and the legal name changed to Security Bank Corporation.
Aftermath
The license formalized the bank's broader business model and supported its subsequent public listing.
Recent events
- 2021
Security Bank reports nationwide branch and ATM network[1]
Other
Reference material reported that Security Bank had 313 branches and 787 ATMs nationwide as of 2021.
- 2016
MUFG acquires a minority stake in Security Bank[1]
M&A
The Bank of Tokyo-Mitsubishi UFJ, now MUFG, acquired a 20 percent minority stake in Security Bank in a transaction reported at ₱36.9 billion.
- 2014
Security Bank launches BetterBanking rebranding[1]
Campaign · Other
The bank introduced the BetterBanking rebranding campaign to strengthen recognition of its retail business while retaining its wholesale-banking foundation.
- 1995
Security Bank lists shares on the Philippine Stock Exchange[1]
Other
Security Bank Corporation was formally listed on the Philippine Stock Exchange following an initial public offering reported at approximately ₱1.5 billion.
- 1994
Security Bank receives universal banking license[1]
Other
The Bangko Sentral ng Pilipinas granted Security Bank a universal banking license, after which the institution adopted the legal name Security Bank Corporation.
Sources2 sources
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