Security Bank cites award, advisory for ops on July 20

SECURITY Bank Corp. announced it was recently recognized as the Philippines’s “Best for High Net Worth (HNW) Clients.” The bank was cited by a media company for the robust and solid growth of its wealth management business in 2020 and over the past several years, both in terms of assets under management (AUM) and customer base.

“As we navigate the new normal, we will continue to invest in increased service differentiation to fulfill our goal of customer-centricity—which is a key element of our better banking promise,” Security Bank President and CEO Sanjiv Vohra was quoted in a statement as saying. “High net worth clients and their families require bespoke services that are aligned with their long-term financial goals, whether the objective is capital preservation or growing their wealth.”

Security Bank launched its wealth management suite in 2017. Security Bank offers clients a comprehensive and consolidated view of their investment portfolios across various asset classes.

“During the lockdown, we saw a spike in client requests for portfolio reviews, which usually require a face-to-face discussion,” Maria Margarita R. Mirabueno, wealth management head, was quoted in the statement as saying. “We leveraged different communication platforms to conduct virtual meetings and update our clients on the status of their portfolio and investments.”

In growing its client base and AUM, Security Bank said its wealth management business leverages the strengths of the Bank’s core businesses. These include the bank’s branch network reach and the product offerings from Treasury, the Trust and Asset Management Group, stock brokerage through SB Equities and investment banking services through SB Capital.

“Being awarded with Best Bank for High Net Worth clients in the Philippines encourages us in our mission to continue to address our wealth clients’ needs through our ‘better banking’ propositions,” Executive Vice President and Branch Banking Head Leslie Cham was quoted in the statement as saying.

Meanwhile, the bank advised its clients that all its branches nationwide will be closed on Tuesday, July 20, in observance of Eid’l Adha (Feast of Sacrifice), per Proclamation 1189.