Security Bank, TLDC team up for home financing
Security Bank Corp. will provide exclusive loan offers to buyers of Torre Lorenzo Development Corp. (TLDC) properties in a bid to make homeownership accessible to more Filipinos.
The bank led by tycoon Frederick Dy on Wednesday said it had inked an agreement with TLDC to give buyers “more flexible and accessible home financing solutions.”
These include loan offerings, competitive interest rates and streamlined processing through Security Bank’s housing loan programs.
The bank also plans to customize mortgage products for TLDC buyers, including promotional rates for selected developments.
“Partnering with Torre Lorenzo allows us to align with a developer known for quality, innovation and integrity,” Security Bank vice president and team head Robert Tejuco said in a statement.
In the first six months of the year, loan growth buoyed the earnings of Security Bank by 8 percent to P5.9 billion amid a monetary policy easing cycle.
Net interest income totaled P24.3 billion, up by 12 percent. As of end-June, home loans had jumped by 17 percent while credit cards surged by 43 percent and auto loans by 54 percent.
Net loans grew by 16 percent to P667 billion, led by an expansion in retail and micro, small and medium enterprise loans.
Security Bank is expecting higher loan demand to drive growth this year, especially since the fourth quarter is historically strong for home and auto loans.
Meanwhile, TLDC recently launched Vertica Torre Lorenzo, its premium project at the University Belt area.
This adds to its portfolio of properties specifically tailored for students seeking a property near their schools, like 1Torre Lorenzo in Manila and Gallery at Torre Lorenzo in Loyola Heights, Quezon City.
Apart from residential condominiums, TLDC also operates various hotels under its partnership with Thai hospitality giant Dusit International.
These include Dusit Thani Lubi Plantation Resort in Davao de Oro, Dusit Princess Lipa in Batangas and Dusit Thani Residence Davao.
