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(L-R) Monetary Board Member, Juanita D. Amatong;
Security Bank Corporation’s President and CEO,
Alberto S. Villarosa; Security Bank Corporation’s
SVP and Treasury Group Head, Rafael S. Algarra and
BSP Governor, Amado M. Tetangco, Jr. |
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The Bangko Sentral ng Pilipinas (BSP)
conferred the Special Recognition for Advocacy Support – Conference on Hedging
Facilities for Exporters to Security Bank Corporation (PSE:SECB) during the 2008
BSP Annual Stakeholders’ Awards.
The citation recognizes SECB’s support in the BSP’s information and education
campaign initiative to promote hedging and derivatives products to help address
the concerns of local export companies as they struggled to deal with foreign
exchange fluctuations and rising inflation.
Security Bank’s active role in educating the business sector to address the
concerns of local exporting companies highlights the Bank’s in-depth knowledge
and expertise in providing Hedging and Derivatives solutions to the market.
In a recent development, Security Bank was accorded a Derivatives License under
the new circular to allow the offering of sophisticated derivative instruments
to the local market. The BSP, in a circular issued earlier this year, required
financial institutions to renew their licenses on or before January 2009 and
secure the necessary permit to continue offering derivative products to their
clients.
SVP-Treasurer and Treasury Group Head, Rafael S. Algarra, Jr. reaffirms that,
“Security Bank has expanded our Hedging and Derivatives product offering to
provide more solutions to the increasingly sophisticated sector of investors,”
said Mr. Algarra.
He added, “We remain committed, not only to enhance appreciation of the industry
nuances, but also to provide better, responsive and innovative financial
solutions to suit the needs of diverse clients and in specific industries and
business sectors where our expertise is most needed as a valued financial
advisor. We welcome opportunities to participate and contribute our knowledge in
enhancing the local market’s awareness about some of the more sophisticated
financial instruments available in the capital markets.
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