Japan’s Marubeni joins Security Bank in leasing firm

Security Bank Corp. has partnered with a Japanese industrial conglomerate in a leasing company that will focus on construction, equipment, trucks and buses. In a disclosure with the Philippine Stock Exchange, Security Bank on Tuesday said the partnership with Marubeni Corp. of Japan will reduce its stake in Security Finance Inc. to 60 percent, with the rest to be owned by Marubeni. "We are optimistic that [this] joint venture shall bring in new clients, provide opportunities for bundling various services, expand our product line and loan portfolio and create value for the shareholders," said Alberto Villarosa, Security Bank president and CEO. Marubeni is involved in power, infrastructure, plants and industrial machinery, real estate development and construction, finance, logistics and information industry, as well as in business investment, development and management. — CMA/VS, GMA News