SBC thrift banking unit opens

Security Bank Savings (SBS), formerly Premiere Development Bank, recently opened its doors in prime locations.

The former Premiere Development Bank was acquired by Security Bank Corp. in a bid to broaden its branch network, scale up its loan portfolio and expand its customer base.

It was renamed SBS and opened for commercial operation after receiving the go-ahead from the Securities and Exchange Commission and the Bangko Sentral ng Pilipinas.

Combined with the people and resources of its parent company, SBC, the thrift bank is expected to provide a wider range of consumer and retail products and an enhanced level of customer service.

SBS aims to attract clients by offering banking services that are easy to access, affordable and fit to their needs. The bank will focus on servicing the consumer retail segment, and small and mid-sized businesses.

SBS currently has a network of 38 branches strategically located at Metro Manila, Cavite, Batangas, Bulacan, Laguna, Rizal and Quezon provinces.