Fitch: Security Bank deal positive for PH

Interest in the Philippines as an investment destination is expected to be stoked by a strategic partnership between Security Bank Corp. and Japan’s biggest bank, Fitch Ratings said.

The planned purchase of a 20 percent stake in Security Bank by Bank of Tokyo-Mitsubishi UFJ, the debt watcher said on Friday, would strengthen the credit profile of the Philippine bank and also lead to continued interest in the sector by other foreign financial institutions.