Eduardo Olbes, the bank’s executive vice president and chief financial officer, said they plan to “roughly double” the green and social loans that the bank registered at the end of last year.
“We will basically add new loans to the tune of about P40 billion,” Olbes said in a recent press briefing.
The bank executive noted that a “substantial” size of the new loans would be achieved this year given the “healthy” pipeline that the bank has in the renewable energy sector.
Security Bank is seeing an uptick in the interest of its retail consumers to shift toward renewable energy as indicated by loans they extended for the purchase of electric vehicles and housing upgrades involving solar panels, Olbes said.
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