A Service plan for Security Bank Corporation

• Main Author: Pambid, Castor T.
• Format: text
• Language: English
• Published: Animo Repository 1994
• Online Access: https://animorepository.dlsu.edu.ph/etd_bachelors/16946
• Institution: De La Salle University

Security Bank was incorporated on June 18, 1951, the sixth oldest among the existing Filipino-owned private commercial banks, and the second Filipino-owned private commercial bank established under the Central Bank Charter of 1949. With an initial capitalization of P 3.0 million and a workforce of 45, Security Bank had for its first president Don Alfonso Calalang, who was subsequently appointed as the Central bank Governor in 1968. On the eve of its 43rd year, Security Bank achieved a milestone by becoming a Universal Bank on February 18, 1994. Total resources reached a high of P 15.3 billion, deposit liabilities amounted to P 11.8 billion, loan portfolio grew to P 7.5 billion and net income registered a record P 217.5 million. With these accomplishments and the new status it has acquired, Security Bank shall now promptly and vigorously commence its planned undertakings in both allied and non-allied businesses. It currently has 81 branches in its domestic network and is a member of the Bancnet ATM network. It plans to add ten new branches in strategically located areas and additional ATM machines to supplement it's 23 ATMs included in the Bancnet network of 640 ATMs. This paper will include recommendations as to how the bank can maximize the opportunity given by its wider scope and capabilities as a Universal Bank. This paper will focus on improvements in the bank's processing procedure and recommendations on how it should tackle the intensive build-up anticipated in it workload.