Security Bank Corp. has created a new segment catering to the needs of a growing Japanese clientele in the country, as part of maximizing the P36.9-billion investment from the Bank of Tokyo-Mitsubishi UFJ Ltd. (BTMU).
In a briefing on Tuesday, Security Bank President and Chief Executive Officer Alfonso Salcedo Jr., said the new business segment will be headed by Director Takahiro Onishi as executive vice president.
Onishi is one of the representatives of BTMU to the Security Bank board.
“This segment is responsible for ensuring volume growth and quality of business collaboration initiatives to maximize Security Bank’s relationship with BTMU and other MUFG [Mitsubishi UFJ Financial Group] companies… That means both local and international,” Salcedo noted.
BTMU is the commercial banking entity of MUFG.
“This alliance will allow us to serve our customers better and . . . is actually part of our journey for better banking,” Salcedo said.
Employees of Japanese clients now have easier access to Security Bank’s consumer products, he added.
The BTMU investment offers Security Bank access to a global network and expertise including best practices. It benefits the bank’s posting in retail businesses as well as in areas of operations and control, specifically in terms of governance, risk, and compliance.
“It broadens the bank’s access to Japanese related business opportunities including participation in cross border loans and other foreign transaction,” Salcedo noted.
The Security Bank board approved the opening of a branch in Carmelray Industrial Park 2 in Calamba, Laguna.
“This is the first of a number of branches we are opening in the exports processing zones.
These new branches are intended to allow us to serve Japanese locators in these zones in the better way. We are doing this because of our BTMU partnership,” he said.
Security Bank has 266 branches all over the country. The bank is looking at opening at least 20 more branches this year.
By 2020, its goal is to have 500 to 600 branches focusing on retail and middle market banking.