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September 24, 2023

Security Bank approves movement of executives

Security Bank Corp. led by bankero Sanjiv Vohra has approved the movement of two key executives effective next month.

The listed bank’s Board of Directors approved the change in the assignments of two senior vice presidents starting May 1.

Security Bank senior vice president Yvonne Joanna Marcelo was designated as corporate banking group head. She is currently the bank’s transformation head for wholesale banking segment.

Likewise, Security Bank senior vice president Gelene Lee will be transformation division head effective next week. Lee is now customer contact framework program division head.


Three rural banks merge to enhance financial stability

Three rural banks have successfully merged in a move aimed at bolstering their financial stability, as confirmed by the Bangko Sentral ng Pilipinas (BSP). The merger officially took effect on July 13, following the necessary regulatory approvals, as detailed in a circular letter signed by Bankero and BSP Deputy Governor Chuchi G. Fonacier on September 15.

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