Security Bank Corp. On Wednesday announced changes to its board of directors during its annual stockholders’ meeting, along with updates on its performance and plans for 2026.
Shareholders elected Michael S. Chua and Mark Dennis Y.C. Joven as new board members. They replace Jikyeong Kang, whose term ended, and Napoleon L. Nazareno, who passed away in March.
Chua has more than 30 years of experience in banking, including leadership roles at Deutsche Bank Philippines. Joven brings experience in public finance, having served at the Department of Finance and on international financial boards.
The bank also reported a leadership change. Chief operating officer Lucose T. Eralil will leave on June 30, 2026. Starting May 1, Patrick Meneses will take on a larger role as Chief Data and Technology Officer.
In its financial report, Security Bank said revenues in 2025 grew 22npercebt to P66.9 billion, while core operating profit rose 26 percent. Net income increased by 3 percent affected by higher credit provisions and continued investments.
The bank said growth came from multiple areas, including lending, deposits, payments, and fee-based services. Total assets reached P1.2 trillion, while deposits grew 16 percent.
Security Bank said its financial position remains stable, with strong capital and liquidity. Moody’s kept its investment-grade rating and improved its outlook to stable. The bank also reported an improved ESG rating.
For 2026, the bank said it will focus on turning growth into stronger and more consistent returns. Priorities include cost control, better risk management, and higher-quality growth rather than rapid expansion.
