Security Bank Corporation, through its Executive Committee, as delegated by the Board of Directors, approved the joint venture agreement between Security Bank and Mitsubishi Motors Corporation ("Mitsubishi Motors") of Japan, to establish Mitsubishi Motors Finance Philippines Inc. ("JV Company"). Mitsubishi Motors will have a 51% ownership stake in the JV Company while Security Bank will have a 49% stake. The JV Company will offer financing services to Mitsubishi Motors' customers in the Philippines.

The signing of the joint venture agreement will be held tomorrow, April 9, 2024. With this agreement, the JV Company will offer an extensive range of sales financing instruments and services to Mitsubishi Motors' customers and dealers in the Philippines, in line with Security Bank's commitment to provide superior customer experiences through the Bank's Better Banking brand promise, through more attractive promos, competitive financing packages and fast decisioning. The completion of this transaction will be subject to regulatory approvals.