SECURITY Bank Corp. is debuting on the closely tracked MSCI Philippines index, which many global fund managers regard as the golden benchmark for equities investing.
Security Bank president Alfonso Salcedo Jr. said in a text message: “We are very encouraged and humbled about being included in the MSCI PH index. However, the heavy lifting is ahead of us in terms of effectively using Bank of Tokyo-Mitsubishi UFJ’s P37 billion equity in Security Bank.”
Security Bank recently closed a deal to sell 20 percent of new shares to the Japanese banking giant, creating a formidable banking alliance meant to accelerate the local bank’s business growth and diversification program.
Security Bank made it to the main basket of MSCI, moving up from the MSCI small cap index, without being part of the local stock barometer Philippine Stock Exchange index.
All changes would be implemented this coming May 31, MSCI announced in New York Friday.
The top 10 constituents of MSCI Philippines to date are Ayala Land Inc., JG Summit Holdings, SM Prime Holdings, Universal Robina Corp., Ayala Corp., Philippine Long Distance Telephone Co., BDO Unibank, SM Investments, Aboitiz Equity Ventures and GT Capital Holdings. Doris Dumlao-Abadilla