Is Security Bank profitable in 2026?

Yes. Security Bank reported FY2025 net income of PHP11.6 billion, up 3% year over year, with revenues of PHP66.9 billion (+22%) and pre-provision operating profit of PHP27.6 billion (+26%), per its March 2, 2026 results release.

Who owns Security Bank Corporation?

Security Bank is a publicly listed Philippine bank (PSE: SECB) with no single controlling owner. The Dy family holds a top stake since 1991, and MUFG Bank of Japan holds roughly 8.6% to 11.4% of voting shares as of a February 28, 2025 disclosure, making it the largest institutional shareholder.

Could AI replace Security Bank?

No. Security Bank holds a BSP universal banking license that AI cannot obtain, letting it legally take deposits and issue credit. It is deploying AI, such as its November 30, 2025 WIZ.AI partnership, for collections and customer engagement automation, not to replace its licensed core functions.

Who is Security Bank's biggest competitor?

By assets as of March 31, 2025, BDO Unibank leads with PHP4.69 trillion versus Security Bank's PHP1.42 trillion, ranking Security Bank 7th nationally. UnionBank is cited as its strongest digital-first rival, while GCash, Maya Bank and Tonik pressure deposit rates and app experience.

How is Security Bank's stock and market value in 2026?

Security Bank's market capitalization was approximately PHP49 billion as of July 2026, per stockanalysis.com. The bank trades on the Philippine Stock Exchange under ticker SECB, where it has been listed since June 8, 1995.

What is Security Bank's relationship with MUFG?

MUFG Bank of Japan acquired a roughly 20% minority stake in Security Bank in January 2016 for PHP36.9 billion, becoming its largest institutional shareholder and strategic partner; in November 2024 Security Bank agreed to buy MUFG's 25% stake in Home Credit Philippines for about PHP11 billion.

Insurance companies · Philippines

Security Bank

securitybank.com ↗

75-year-old BSP-licensed Philippine universal bank with PHP1.2T in assets.

Hard to displace

Assessed 26 July 2026 · Evidence as of 26 July 2026

Strong structural protection; the business model survives ai pressure.

On the recordSince 26 July 2026 · Checkable from mid-2026 · Every call on the record Checkpoint: BSP Circular 1238 interbank transfer fee changes take effect

The call

Security Bank sits behind a regulatory wall that keeps GCash, Maya, and AI lenders out of deposit-taking, while BDO simply outscales it inside the same wall.

Security Bank takes deposits, makes loans, and moves money for businesses and people in the Philippines. It is hard to replace because the government only lets licensed banks do these things, and getting a license takes decades. Fintechs like GCash and Maya Bank can move money cheaply, but they cannot legally take deposits or make big business loans the way Security Bank does. The one thing that could change everything is if the Philippine government rewrote the banking rules to let fintechs do what banks do, but that is unlikely in the next few years.

Why

AI pressure: None apparent. No AI model can hold deposits or carry credit risk; Security Bank uses WIZ.AI to automate collections, not replace its license. Could AI do the core job? Unlikely.

Bigger players: BDO Unibank. BDO runs 4x the assets under the same BSP charter, competing hard on scale but not erasing SECB's licensed footing. Could a giant copy it? Probably.

What protects it. BSP universal banking license plus branch network and MUFG backing that fintechs and AI tools cannot legally replicate.

What would change this call

Security Bank's Q4 2025 net income growth figures released next earnings cycle. Whether the YoY/QoQ profit decline from credit provisioning is easing or worsening.
BSP Circular 1238 fee changes take effect mid-2026. Whether interbank transfer fee income drops as fintech rivals undercut pricing.
New CEO Victor Lee Meng Teck's 'depth over breadth' strategy results within 6 months. Whether the bank narrows focus in response to competitive or margin pressure.

Key numbers

P/E ratio near 4 (2026-07-26)
Total assets PHP1.2 trillion (2025)
ROE at 7.87% (2025)

Named risks

Q4 2025 net income declined YoY and QoQ due to higher credit provisioning. Severity: medium
BSP Circular 1238 fee waivers on InstaPay/PESONet compress fee income sector-wide from mid-2026. Severity: medium
Thin ROE (7.87% in FY2025) versus larger peers signals limited pricing power. Severity: medium
Headcount figures conflict wildly across sources (5,900 to 16,200), obscuring real workforce trend. Severity: low
Fintech challengers (GCash, Maya, Tonik) erode deposit-rate and app-experience share at the margins. Severity: low

Rivals, as read in July 2026

Rival	Direction	Evidence
BDO Unibank	losing to	BDO held PHP4.69T in assets vs Security Bank's PHP1.42T as of 2025-03-31
BPI	losing to	BPI merged with Robinsons Bank in 2024-2025, expanding scale and reported FY2025 net income PHP58.4bn
UnionBank	contesting	Cited as strongest digital-first competitor per 2026-03-20 industry analysis
GCash	contesting	Fintech pressure on deposit rates and app experience across sector, 2026
Maya Bank	contesting	Digital bank challenger reshaping deposit-rate expectations, 2026
Tonik	contesting	Digital-only bank nibbling at deposit and app-experience share, 2026

Questions people ask

Is Security Bank profitable in 2026?: Yes. Security Bank reported FY2025 net income of PHP11.6 billion, up 3% year over year, with revenues of PHP66.9 billion (+22%) and pre-provision operating profit of PHP27.6 billion (+26%), per its March 2, 2026 results release.
Who owns Security Bank Corporation?: Security Bank is a publicly listed Philippine bank (PSE: SECB) with no single controlling owner. The Dy family holds a top stake since 1991, and MUFG Bank of Japan holds roughly 8.6% to 11.4% of voting shares as of a February 28, 2025 disclosure, making it the largest institutional shareholder.
Could AI replace Security Bank?: No. Security Bank holds a BSP universal banking license that AI cannot obtain, letting it legally take deposits and issue credit. It is deploying AI, such as its November 30, 2025 WIZ.AI partnership, for collections and customer engagement automation, not to replace its licensed core functions.
Who is Security Bank's biggest competitor?: By assets as of March 31, 2025, BDO Unibank leads with PHP4.69 trillion versus Security Bank's PHP1.42 trillion, ranking Security Bank 7th nationally. UnionBank is cited as its strongest digital-first rival, while GCash, Maya Bank and Tonik pressure deposit rates and app experience.
How is Security Bank's stock and market value in 2026?: Security Bank's market capitalization was approximately PHP49 billion as of July 2026, per stockanalysis.com. The bank trades on the Philippine Stock Exchange under ticker SECB, where it has been listed since June 8, 1995.
What is Security Bank's relationship with MUFG?: MUFG Bank of Japan acquired a roughly 20% minority stake in Security Bank in January 2016 for PHP36.9 billion, becoming its largest institutional shareholder and strategic partner; in November 2024 Security Bank agreed to buy MUFG's 25% stake in Home Credit Philippines for about PHP11 billion.

Timeline

2026-07-09Security Bank opens its 391st branch in Muntinlupa, marking its 75th anniversary
2026-06-22Q1 2026 revenues reach PHP17 billion, up 10% year over year, PPOP up 24%
2026-04-10New CEO Victor Lee Meng Teck outlines 'depth over breadth' strategy shift
2026-03-02FY2025 results: revenues PHP66.9 billion, net income PHP11.6 billion, ROE 7.87%
2026-01-01Victor Lee Meng Teck becomes President and CEO, succeeding Sanjiv Vohra
2025-12-29Security Bank discloses AI adoption and modern architecture platform investments
2025-11-30Security Bank partners with WIZ.AI for conversational AI in collections and engagement
2025-09-30Security Bank announces leadership transition naming Victor Lee Meng Teck as next CEO
2024-11-29Security Bank agrees to acquire MUFG's 25% stake in Home Credit Philippines for ~PHP11 billion
2016-01-01MUFG Bank acquires ~20% stake in Security Bank for PHP36.9 billion

Revision history

26 July 2026

First assessed. Hard to displace. The text above is fixed as of this date and is not edited afterwards.

In the same band

State Farm Insurance New York Life Insurance Citigroup