Toward meaningful impact
In 2022, for the first time in our Bank’s history, we’ve published an Integrated Report to highlight our strategy, sustainability, governance, and performance in terms of commercial, social, and environmental context—and how these create value for our stakeholders and communities. We’re proud to be one of only two traditional Philippine banks to release an Integrated Report, underscoring our forward-thinking vision and commitment of creating meaningful impact.
2022 Financial highlights
Security Bank posted a 53% increase in net income to PHP10.6 billion in 2022, driven by growth in core businesses, lower credit provisions, and normalized income tax provisions. Profitability ratios improved, with return on shareholders’ equity rising to 8.42% from 5.57% in 2021, and return on assets likewise increasing to 1.37%, up from 1.02%.
TOTAL ASSETS
842,291
PHP MN
NET INCOME
10,556
PHP MN
TOTAL EQUITY
125,848
PHP MN
TOTAL DEPOSITS
605,837
PHP MN
RETURN ON
SHAREHOLDERS
8.42%
RETURN ON ASSETS
1.37%
Message from
the Chairman
The solid foundation from which we are able to deliver on our mandate with more resounding outcomes steams from our strong commitment to building a culture of integrity and good goverance.”
Insights from the President & CEO
My heartfelt thanks go to our employees for their invaluable contributions; to our customers and investors for their trust; and to our Board for their
unceasing support.”
Our sustainability framework
In 2022, Security Bank progressed in the development of its ESG best practices. This progress was built upon milestones achieved in 2021 with the Board approval and implementation of the Bank’s Environmental and Social Risk Management System (ESRMS). This was quickly followed by the approval of the Sustainable Finance Framework (SFF) to support its sustainability commitments and set out how it intends to raise Sustainable Financing Instruments (SFIs).
Our value creation model
We’ve visualized the value we create by connecting our purpose and strategy with relevant capitals, outcomes, impacts, and focus United Nations Sustainability Development Goals (UN SDGs).
Our UN SDG focus areas are:
How we create meaningful impact
Enriching lives
Security Bank’s people-centered programs benefit our customers, employees, and shareholders.
Providing differentiated retail banking
More agile. More intuitive. 2022 was the year the Retail Banking Segment (RBS) strengthened its foundation to anticipate and better respond to customers’ needs while growing its share in the mass affluent market.
Transforming the branch banking experience
The Branch Banking Group (BBG) team has set itself up to deliver the right balance of meaningful, face-to-face interactions and online relationship-building to create seamless customer experiences.
Offering innovative trust products
In 2022, the Trust Asset Management Group’s (TAMG) total Assets under Management (AUM) grew by 14% which translated to an increased full year gross revenue contribution to the Bank by 9% compared to the previous year.
Caring for customers
The Customer Care Department (CCD) has worked throughout the year to care for its clients, ensuring their concerns are addressed appropriately and promptly. CCD monitors insights from CSAT surveys conducted by the Bank in 2022.
Powering customer experiences
Not only an enabler—but a partner of the business in achieving goals and aspirations. This was the goal of the Enterprise Technology & Operations (ETO) Segment when it was established in 2021.
Championing employee well-being and development
“You matter” are two words at the core of Human Capital Management’s (HCM) mandate: serving the Bank’s employees. In 2022, HCM successfully implemented initiatives to manage employees’ learning and development, leadership and performance, and personal well-being.
How we create meaningful impact
Empowering businesses
As an efficient and conscientious partner, Security Bank contributes to economic development by
supporting and equipping businesses with resources and capabilities for growth.
Partnering for growth in financial markets
Treasury delivers on the BetterBanking promise through its mutually beneficial interactions with counterparties and market participants; and by providing value-driven, innovative, and varied investment and hedging opportunities for clients.
Deepening corporate and commercial relationships
The marching order to the Wholesale Banking Segment (WBS) at the start of 2022 was clear: grow assets profitably. WBS wrapped an outstanding year by posting a 19% growth in wholesale loans and investments in corporate bonds.
Enabling Filipino MSMEs
Security Bank’s goal of customer-centricity was reinforced in 2022 with the establishment of the Business Banking Segment (BBS) to care for MSMEs, which comprise 99.5% of all business firms in the Philippines.
Ensuring integrity and growing global presence
In 2022, the Alliance Segment harnessed the strategic partnership between Security Bank and the Mitsubishi UFJ Financial Group (MUFG) to expand the Bank’s business and enhance its corporate value.
How we create meaningful impact
Building communities sustainably
Security Bank applies a holistic approach to giving by assessing the needs of people and communities,
identifying strategic project partners, and following through for sustainable impact.
BetterBanking by doing social good
In 2022, Security Bank and its Corporate Social Responsibility (CSR) arm, Security Bank Foundation, Inc. (SBFI), demonstrated a deep commitment to partner communities by implementing new and continuing established programs to make a difference in the lives of people.
Being conscientious stewards of our planet
The Bank continued organization-wide efforts towards environmental impact reduction, environmental improvement, and pollution prevention across its operations.
Read our full 2022 Integrated Report
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