SB Finance to expand loan offerings in 2021

SB Finance Company Inc. is set to expand its loan offerings this year, following a P3-billion infusion in its capital approved in February.

In a statement on Tuesday, SB Finance said it will roll out various loan products this year, aside from the personal loan product it currently offers.

"We are set to launch multiple products this year and this also further cements Krungsri's strategic partnership with Security Bank to foster financial inclusion in the Philippines," said Krungsri Senior Adviser Dan Harsono.

Krungsri, or Thailand's Bank of Ayudha, acquired a 50% stake in SB Finance in October 2020 to provide a customer-centric digital lending experience to Filipinos.

"SB Finance's goal is to create products and services to support the average Filipino and small businessmen in their financial needs while creating a customer-centered journey in the new digital normal," said SB Finance President and Chief Executive Officer Abbie Casanova.

"To do this, we needed a strong partner who has extensive experience in the field of consumer finance who can guide us in the right direction," added Casanova.

SB Finance Corp. is a partnership between Krungsri and the Security Bank Corp. Shares in Security Bank closed Tuesday at P115.40 apiece, up by 4 centavos or 0.35% from Monday's finish of P115.00. — DVM, GMA News