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FOR INQUIRIES, PLEASE CONTACT:

MA. CRISTINA A. TINGSON, Executive Vice President


T: +632-888-7147; E: MTingson@securitybank.com.ph

SB Cards sells Diners Club Franchise to BDO


BDO Unibank, Inc. (BDO) and SB Cards Corporation (SB Cards) the credit card subsidiary
of Security Bank Corporation have signed an agreement whereby BDO accepted SB
Cards offer to sell its rights as the exclusive issuer and acquirer of Diners Club
International (DCI) credit cards in the Philippines. The acquisition includes SB Cards
existing Diners Club portfolio and its cardholder base. Subject to certain approval
requirements, the transaction is expected to be completed within 23 months.
SB Cards President, Ma. Cristina A. Tingson, said, the move is a strategic decision to
focus on our existing card issuing business with MasterCard as our main credit card
offering which we will actively expand and strengthen for our customers. Our card business
remains to be a critical leg of our Retail Bank, a crucial driver of the overall growth strategy
of Security Bank.
She added, Our discipline to focus on our goals enables us to sustain the significant
progress we have made in delivering our promise of BetterBanking to our customers. We
will continue to provide products and services that are responsive to the changing needs of
our market. During the interim period, we will still provide systems and operational support
to ensure the seamless transition of the business to BDO.
Meanwhile, BDO underscored that its partnership with Diners Club International will further
strengthen its card portfolio in the Philippines. BDO currently has the most card brands in
the country, being the issuer for MasterCard, Visa, American Express JCB and UnionPay.
The Diners Club portfolio will allow us to deliver new customer benefits to our card
members. SB Cards has built a quality portfolio, and we are excited to work with those
cardmembers as well as start to issue new Diners Club cards, said Rolando C. Tanchanco,
Executive Vice President of BDO.

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