Security Bank (PSE:SECB) received an upward boost in its ratings from international credit rating agency, Capital Intelligence (CI). CI upgraded the bank’s Long-term Foreign Currency rating to “BB” from “BB-’”. The rating agency meanwhile affirmed SECB’s Short-term Foreign Currency rating of “B”.
Furthermore, Capital Intelligence has maintained a “BBB-“ Financial Strength rating for Security Bank as underpinned by its excellent asset quality, good ability to generate capital internally and consistent superior profitability among its peers. Outlooks for all other ratings are deemed “stable” by the credit rating agency.
These achievements strengthen the bank’s profile amongst local and international peers as it was recently awarded “The Best Managed Company in the Philippines – Small Cap Corporate of the Year” by leading financial magazine, AsiaMoney. A distinguished feat since SECB was the only bank among the awardees from the Philippines with the publication citing its ability to deliver “ROEs well above those of the big banks and generally outperforming them in efficiency ratios.”