31 Dec Security Bank, Krungsi joint venture to receive P3 billion capital infusion

Security Bank on Tuesday said the joint venture SB Finance, with Thailand’s Bank of Ayudhya Public Co Ltd (Krungsi), would receive at least P3 billion in capital infusion in the coming months.

At least 15 percent (about P450 million) is earmarked to boost its digital presence, SB Finance said.

“Investment in SB Finance will be used to support our expansion, strengthen internal capabilities and invest in technology so at least for this year we’re allocating around 15 percent of that for our digital investment,” SB Finance chief financial officer Joy Supan said during a virtual briefing.

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