Security Bank to ease branch expansion this year

Security Bank Corp. said it is easing its branch expansion as it rationalizes its existing network amid digitalization push.
Alfonso L. Salcedo, Jr., Security Bank president and chief executive officer, said the bank will open less branches this year due to rationalization.
“We’re slowing down this year because what we have been focusing on is rationalizing our existing branches,” Mr. Alfonso told reporters in a chance interview last week.
“In simple words, we’ve been relocating or putting our branches in the right places,” he added, noting that it will open “less than five branches” this year. — Karl Angelo N. Vidal