Philippines-based Security Bank has completed a re-branding exercise designed to support its strategy to expand the primary target market and include various customer-centric programmes to focus on focus on retail banking.
Security Bank retail banking senior vice president Ma Cristina Tingson was quoted by the sunstar.com as saying, "The re-branding is a necessary exercise for us to support our strategy to grow the retail bank."
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"Our goal is to ultimately make retail the third business pillar for the bank as a consistent source of revenue base to balance with our existing two business pillars, whose businesses are generally wholesale," Tingson told the publication.
Security Bank said that it will primarily target the emerging "mass" and "mass affluent" segment, which represents nearly 10% of the country’s total population.
"This is the segment who thinks about building their homes, buying cars. This is the segment that starts to save and the ones who look for opportunities on where their earnings can start to grow," she added.
In order to support its strategy, Security Bank has also embarked on an modernisation programme to improve its branch facilities, enhance branch processes and develop special privileges to serve customers better.
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