Finance Secretary Frederick Go urged banks to deepen financial inclusion and expand support for smaller businesses, saying broader access to capital is essential to making the country’s growth more sustainable.
Speaking at Security Bank Corp.’s 75th anniversary celebration in Makati on Thursday, Go said financial institutions must look beyond their traditional role of maintaining stability and help address development gaps.
“We live in a time when economic growth must be broader, more inclusive, and more sustainable,” Go said. “This means supporting micro, small, and medium enterprises that generate jobs and drive innovation. It also means expanding access to financial services for underserved sectors.”
Go said digital platforms are reshaping the industry by reducing transaction costs and extending services beyond conventional branch networks, helping bring more Filipinos into the formal financial system.
He attributed the longevity of the country’s oldest lenders to “discipline, strong governance, and a clear focus,” and highlighted Security Bank’s role in the government securities market and in supporting the central bank’s push toward digital payments.
The lender, which counts Japan’s Mitsubishi UFJ Financial Group (MUFG) as a strategic partner, marked its diamond anniversary as regulators seek to modernize the domestic retail banking sector.
“When financial services become easier to access and use, more people can save, invest, build businesses, and improve their quality of life,” Go said, adding that the government would continue to provide “clear direction and create an equitable playing field for growth” alongside private financiers.
