Daily Tribune
Security Bank’s Board of Directors during the Annual Stockholders’ Meeting on 28 April, 2026. (First row, L-R) James JK Hung, Board Advisor; Enrico S. Cruz, Independent Director; Gerard H. Brimo, Independent Director; Michael Chua, Independent Director; Atty. Jose Perpetuo M. Lotilla, Independent Director; Stephen G. Tan, Independent Director; Esther Wileen S. Go, Independent Director; Mark Dennis Y.C. Joven, Independent Director; (Second row, L-R) Joel Raymond R. Ayson, Corporate Secretary; Victor Lee Meng Teck, President and CEO; Cirilo P. Noel, Chairman; Frederick Y. Dy, Chairman Emeritus; Diana P. Aguilar, Vice Chairperson; Daniel S. Dy, Director; Hirofumi Umeno, Director; and Maria Cristina A. Tingson, Director
Photo courtesy of Security Bank.
Security Bank Corporation is entering 2026 with changes in its leadership structure after its Annual Stockholders’ Meeting on 28 April, 2026, as the bank pairs board restructuring and executive adjustments with a push to turn recent growth into improved returns.
Shareholders elected Michael S. Chua and Mark Dennis Y.C. Joven to the Board of Directors, replacing Jikyeong Kang, whose term ended, and Napoleon L. Nazareno, who died in March.
Chua brings more than 30 years of experience in banking and financial services. He previously served as Chief Country Officer of Deutsche Bank Philippines and held senior roles across corporate banking, global markets, asset-liability management, and transaction banking.
Joven, meanwhile, has a background in public finance and governance. He served as Undersecretary of the Department of Finance (DOF) and represented the Philippines in international financial institutions, including the Asian Infrastructure Investment Bank and the Fund for Responding to Loss and Damage.
Alongside the board changes, the bank also announced a transition in its senior leadership. Lucose T. Eralil, Executive Vice President and Chief Operating Officer, will complete his contract on 30 June, 2026. Starting 1 May, 2026, Patrick Meneses will take on an expanded role as Chief Data and Technology Officer, reflecting the bank’s focus on operational continuity and digital transformation.
The leadership updates come as the bank emphasizes stronger performance delivery after a year of expansion.
In his President’s Report, Security Bank President and CEO Victor Lee Meng Teck said the institution is shifting its focus toward improving profitability and efficiency after building a stronger base.
“We have built a stronger, more capable bank,” Lee said. “The task now is to convert that strength into stronger and more consistent returns.”
For 2025, the bank reported revenues of P66.9 billion, up 22 percent, while core operating profit rose 26 percent. Net income increased by 3 percent, supported by stronger operations even as provisions and investments rose.
Growth was broad-based across business segments. Net interest income increased 15 percent, while non-interest income surged 47 percent. Lending, deposits, payments, cards, financial markets, and fee-based services all contributed to the expansion.
The bank also reported continued balance sheet strength, with total assets reaching P1.2 trillion and deposits rising 16 percent. Asset quality remained stable with improved coverage levels, while capital and liquidity positions stayed solid. Credit ratings agency Moody’s affirmed the bank’s Baa2 investment-grade rating and revised its outlook to stable from negative, while its MSCI ESG rating improved to A.
Lee said the bank will focus on disciplined execution moving forward, particularly in cost control, risk management, capital strength, and higher-quality growth.
“We are not pursuing growth at any cost,” Lee said. “We are focused on growth that improves returns.”
He added that the next phase will center on maximizing existing investments and converting current capabilities into sustained financial performance.
