Security Bank and SMC Asia Car Distributors Offer Flexible Leasing Options

Security Bank and its subsidiary, SB Rental Corporation, held a ceremonial contract signing on November 29, 2024 with SMC Asia Car Distributors Corporation (BMW Phil), the authorized importer and distributor of BMW Group products in the Philippines. The agreement enables Security Bank to offer BMW cars and motorcycles leasing to clients with features such as low initial cash outlay and flexible payment terms.

​“This partnership with BMW Philippines will provide our customers an additional payment option to purchase a brand-new BMW unit. Our leasing program also includes insurance and maintenance to make it more convenient for the clients,” said Jaja Acosta, AVP and Focus Segment Specialist for the Automotive Industry, Security Bank. 

Together, Security Bank and BMW Phils are committed to providing customers with convenient and flexible leasing options for BMW units, including insurance and maintenance, to enhance the overall purchasing experience.
 
SMC Asia Car Distributors Corp. (SMCACDC) was appointed by the BMW Group as an importer, distributor, and service provider of BMW automobiles in the Philippines in 2017. SMCACDC is a wholly owned Filipino company under the San Miguel Corporation. In the Philippines, BMW has the widest dealership network in the premium vehicle segment nationwide. SMCACDC is supported by BMW Group AG through its regional office in Singapore, BMW Asia Pte. Ltd.

SB Rental Corporation was incorporated in January 2014 as the operating lease arm of Security Bank group of companies. The company is engaged in the business of renting, leasing of various types of motor vehicles, machineries and equipment. SB Rental as an operating lease company, enters into a contract where the Lessor (SB Rental) grants the right of use of a particular asset for a period of time to the Lessee (customer), who will pay a fixed amount on a regular basis for the right of use of said asset. This allows customers to have full access and use of assets with minimal costs.

Security Bank is a private domestic universal bank in the Philippines with total assets of P1 trillion as of September 30, 2024. The Bank has been operating for 73 years since it was established in 1951. Security Bank has a total of 334 branches and 678 ATMs, Cash Recycler Machines (CRMs) and Cash Acceptance Machines (CAMs) to-date.

In 2024, Security Bank was awarded Best for High-Net-Worth in the Philippines by Euromoney/Asiamoney for four consecutive years; The Philippines' Best Bank for Corporates by Euromoney/Asiamoney for two consecutive years; Best Branch Digitisation Implementation for the Mosaic Voyager (MV) Tellering and Lobby Management System by The Asian Banker; three awards Credit Card Initiative of the Year, Sustainability Initiative of the Year, and ESG Program of the Year (Bronze) for Security Bank Wave Mastercard by Asian Banking and Finance; and Best Investor Relations Company (Philippines), Sustainable Asia Award, Asia’s Best CEO (Investor Relations), Asia’s Best CFO (Investor Relations) and Best Investor Relations Professional (Philippines) by Corporate Governance Asia for four consecutive years; 3 Golden Arrow Recognition for corporate governance excellence by the Institute of Corporate Directors (ICD).

In 2023, Security Bank was awarded Best for Mass Affluence/HNW in the Philippines by Asiamoney; Best Credit Card Product in the Philippines (for Security Bank’s Complete Cashback Platinum Mastercard) by The Asian Banker during the 2022 Asian Banker Excellence Awards; Best Retail Bank in the Philippines by Alpha Southeast Asia; Market Leader in Corporate Social Responsibility (CSR) by Euromoney; Market Leader in Diversity & Inclusion by Euromoney; Best Bank for Diversity and Inclusion by Asiamoney. The Bank’s major citations in 2021 are: Philippines’ Best Bank by Euromoney; Best for HNWs (High Net Worth Clients) in the Philippines by Asiamoney; Best Retail Bank in the Philippines by Alpha Southeast Asia; and Best Culture of Learning and Diversity Champion by LinkedIn Talent Awards.