Security Bank Corporation (SECB) was incorporated on May 8, 1951 and started its operations as a commercial bank on June 18, 1951. SECB secured approval from the Bangko Sentral ng Pilipinas in 1994 to operate as a universal bank allowing the company to expand its financial services and revenue sources. In 2006, SECB received BSP's approval to engage in expanded derivatives activities in both its regular and foreign currency deposit unit books. SECB's operating businesses are recognized and managed separately according to the nature of services provided and the different markets served with each segment representing a strategic business unit. The company's principal business activities are organized into commercial banking, which encompasses banking centers, the branch banking group and consumer lending, and investment banking, which encompasses the treasury group, the fixed income & securities division and SECB's investment house. As of December 31, 2008, SECB had a network of 119 online branches, 70 of which are located in Metro Manila and 49 situated outside Metro Manila, and 144 automated teller machines. Source: SEC Form 17-A (2008)