THE WHOLLY OWNED investment banking arm of Security Bank Corp. has changed its name to Security Bank Capital and Investment Corp. from SB Capital Investment Corp.
The investment house’s corporate name change has been approved by the Securities and Exchange Commission and took effect on Nov. 12, Security Bank said in a statement on Monday.
“This change aligns the firm with the BetterBanking brand of its parent company and aims to further enhance its corporate identity in the industry,” it said.
“Security Bank Capital will continue to provide the same level of excellence and comprehensive investment banking services to our valued clients. We are excited about this development and remain dedicated to supporting our clients’ financial goals with renewed vigor and a unified brand presence,” Security Bank Capital President and Chief Executive Officer Virgilio O. Chua said.
Incorporated in 1995, Security Bank Capital offers investment banking products and services like underwriting of equity and debt securities, project finance, mergers and acquisitions, loan syndications, and advisory services to public and private sector clients.
Security Bank Capital’s subsidiaries are leasing firm SB Rental Corp. and stock brokerage SB Equities, Inc.
Its listed parent Security Bank’s net income rose by 13.58% year on year to P3.01 billion in the third quarter amid higher revenues.
This brought its nine-month net profit to P8.45 billion, up by 11.62% from a year ago.
Security Bank’s shares went down by P1.80 or 2.12% to end at P83.20 apiece on Monday. — A.M.C. Sy