SECURITY BANK Corp. has appointed Victor Lee Meng Teck as its next president and chief executive officer (CEO) starting January.
Mr. Lee will take over the post now held by Sanjiv Vohra by next year following the completion of his work permit, visa, and other regulatory requirements, the bank said in a disclosure to the stock exchange on Tuesday.
Mr. Vohra, who was appointed to his post in July 2019 or just months before the coronavirus pandemic, will be a senior advisor to Security Bank’s board once he steps down.
“I’m honored to be entrusted with this responsibility. Security Bank has built a strong reputation for customer-centricity, innovation, and its distinct BetterBanking experience. I look forward to working with Sanjiv, the board, and all employees to continue building on this foundation and delivering sustainable growth for our stakeholders,” Mr. Lee said.
“Our journey over the past six years has been one of total transformation — reimagining Security Bank from front to back. We have strengthened our people, embraced new technology, modernized platforms, and, most importantly, embedded customer-centricity at the heart of everything we do… As I step aside, I am confident the bank is well-positioned to continue its momentum and achieve even greater success in the years ahead,” Mr. Vohra said.
Mr. Lee is from Singapore and has over 30 years of leadership experience across various companies in Asia. He most recently served as CEO of CIMB Singapore and CEO of Growth Markets for CIMB Bank Bhd.
“We’re grateful to Sanjiv for his steady leadership during one of the most challenging periods in recent history. His vision and dedication have left the bank stronger, more resilient, and well-prepared for the future. As we welcome Victor, we’re confident this seamless transition will allow us to sustain momentum and capture new opportunities,” Security Bank Chairman Cirilo P. Noel said.
The bank’s net income grew by 7.85% year on year to P3.04 billion in the second quarter on the back of double-digit revenue growth.
This brought its first-half net profit to P5.86 billion, up by 7.59% year on year.
Security Bank’s shares rose by P1.30 or 1.85% to close at P71.40 apiece on Tuesday. — A.M.C. Sy
