Security Bank Corporation announced changes to its Board of Directors at its Annual Stockholders’ Meeting held on April 28, 2026, alongside updates on the Bank’s performance and priorities for 2026.
Stockholders elected Michael S. Chua and Mark Dennis Y.C. Joven to the Board, replacing Jikyeong Kang, whose term has ended, and Napoleon L. Nazareno, who passed away in March.
Chua brings over three decades of experience in banking and financial services, having served as Chief Country Officer of Deutsche Bank Philippines and held senior leadership roles across corporate banking, global markets, asset-liability management, and transaction banking.
Joven has deep expertise in public finance and governance, having served as Undersecretary at the Department of Finance and represented the Philippines on the boards of the Asian Infrastructure Investment Bank and the Fund for Responding to Loss and Damage.
The Bank also announced a senior leadership transition. Lucose T. Eralil, Executive Vice President and Chief Operating Officer, will conclude his contract with the Bank on June 30, 2026. Effective May 1, 2026, Patrick Meneses will assume an expanded role as Chief Data and Technology Officer, reflecting the Bank’s continued focus on execution, transformation, and leadership continuity.
Converting growth into stronger returns
In his President’s Report, Security Bank President and CEO Victor Lee Meng Teck said the Bank enters 2026 from a stronger foundation, with the focus now on converting growth into better and more consistent returns.
“We have built a stronger, more capable bank,” Lee said. “The task now is to convert that strength into stronger and more consistent returns.”
In 2025, revenues rose 22 percent to PHP66.9 billion, while core operating profit increased 26 percent. Net income grew 3 percent, reflecting solid operating performance alongside higher credit provisions and continued investment spending.
Lee emphasized that growth was broad-based and supported by the quality of the franchise. Net interest income grew 15 percent, non-interest income rose 47 percent, and growth was supported by activity across lending, deposits, payments, cards, Financial Markets, and fee-based businesses.
The Bank also continued to strengthen its balance sheet, with total assets reaching PHP1.2 trillion and deposits growing 16 percent. Asset quality remained resilient with improved coverage, while capital and liquidity stayed sound. Moody’s affirmed the Bank’s Baa2 investment-grade ratings and revised its outlook to stable from negative, while the Bank’s MSCI ESG rating improved to A.
Lee said the Bank’s priority now is disciplined execution, centered on cost discipline, tighter risk management, stronger capital, and higher-quality growth.
“We are not pursuing growth at any cost,” Lee said. “We are focused on growth that improves returns.”
He added that the emphasis is on realizing greater value from investments already made and translating existing capabilities into stronger performance.
