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Tag: Sterling Bank of Asia (SBA)

  • Sterling Bank of Asia Recognized as One of BSP’s 30 Outstanding Institutional Partners

    Manila, Philippines – August 9, 2024 – Sterling Bank of Asia (SBA) has been honored as one of the 30 outstanding institutional partners by the Bangko Sentral ng Pilipinas (BSP). This prestigious recognition was presented during the 2024 Outstanding BSP Stakeholders Appreciation Ceremony (OBSAC), held on August 2, 2024, at the BSP’s Manila Head Office.

    In his address at the ceremony, BSP Governor Eli M. Remolona, Jr. highlighted the significance of the awards, stating, “As we bestow our latest set of awards, we recognize that the two decades of OBSAC are evidence of the rare community of partners with which the BSP is blessed. We hope you, our partners, take pride in the role you play in the BSP’s efforts to provide an enabling environment for growth.”

    The OBSAC, launched in 2004, has been a platform for the BSP to acknowledge outstanding partners who actively support its mandates of maintaining price stability, ensuring financial stability, and promoting a safe and efficient payments and settlements system.

    Sterling Bank of Asia was specifically acknowledged for its exceptional performance in sourcing its total currency requirements through the Cash Service Alliance (CSA), achieving the highest percentage among all CSA-participating banks. This accolade underscores SBA’s proactive approach to enhancing operational efficiencies and its unwavering commitment to supporting BSP’s initiatives.

    The bank’s strategic involvement in the Cash Service Alliance program not only ensures a stable and efficient currency supply chain but also contributes significantly to the overall stability and reliability of the Philippine financial system.

    Mr. Cecilio Paul San Pedro, President and CEO of Sterling Bank of Asia, expressed his gratitude for the recognition, saying, “On behalf of Sterling Bank of Asia, I am honored to accept this prestigious award. This recognition underscores our commitment to supporting BSP’s mandate and initiatives on price stability, financial stability, a safe and efficient payment system, and financial inclusion.”

    He added, “We are grateful and dedicated to our mission of excellence. This award reflects the hard work and dedication of the entire Sterling Bank team.”

    In Photo (Left to Right): BSP Governor Eli M. Remolona Jr., SBA Senior Vice President Luisito S. Mayor, SBA President & CEO Cecilio D. San Pedro, SBA First Vice President Joseph T. Sulit, and BSP Deputy Governor for Regional Operations and Advocacy Sector Bernadette Romulo–Puyat at the recognition ceremony for the 2024 Outstanding BSP Stakeholders Appreciation Ceremony (OBSAC) held on August 2 at the BSP’s Manila Head Office.

    This recognition honors SBA’s accomplishments and highlights the bank’s commitment to contributing significantly to the growth and stability of the nation’s financial landscape.

    For more information about Sterling Bank of Asia and its programs, please visit www.sterlingbankasia.com.

  • SBA Recognized as One of BSP’s Outstanding Stakeholders in 2022

    SBA Recognized as One of BSP’s Outstanding Stakeholders in 2022

    Sterling Bank of Asia (SBA), one of the country’s leading thrift banks, was recognized by the Banko Sentral ng Pilipinas (BSP) during the “2022 Outstanding BSP Stakeholders Appreciation Ceremonies” held last November 29 at the BSP Assembly Hall.

    BSP Governor Felipe M. Medalla, in his message, recognized both the public and private sectors for their contribution to the implementation of appropriate, responsive, and well-calibrated policy actions.

    SBA is the only savings bank among the nine award recipients from BSP’s head office for its outstanding participation in BSP’s Cash Service Alliance (CSA).

    “We are honored to be recognized by the BSP for our strong commitment to the development and protection of the financial services industry,” said Cecilio Paul San Pedro, President and CEO of Sterling Bank of Asia. “This award is an affirmation of hard work and dedication in improving the financial well-being of our clients and every Filipino” San Pedro added.

    For more information, visit https://www.sterlingbankasia.com/.

    REFERENCE:

    Lariza Garcia

  • Sterling Bank of Asia signs agreement with Anti-Money Laundering Council

    Sterling Bank of Asia signs agreement with Anti-Money Laundering Council

    Sterling Bank of Asia (SBA) signs an Information Sharing Protocol (ISP) Agreement with the Anti-Money Laundering Council (AMLC) to support government measures to combat financial crimes in the country.

    The ISP framework aims to effectively control, detect, and investigate money laundering (ML), terrorism, and financing of terrorism (FT) in the country. It will also cover information exchange and capacity-building measures to enhance the ability to address ML, terrorism, and FT concerns. Further, the ISP aims to institutionalize an adequate documentation mechanism to perform targeted suspicious transaction monitoring and reporting, as well as develop valuable/breakthrough investigative leads.

    “This is in line with the Bank’s efforts in promoting a strong and good corporate governance culture,” said Cecilio San Pedro, SBA’s President and CEO.

    SBA recognizes the importance of the collaboration between the public and the private sector in upholding a framework that will deliver a more efficient and effective identification and detection of financial crime patterns and trends. “Sterling Bank will extend its full cooperation in the exchange of information and financial intelligence and full support in the capacity-building measure of AMLC,” said San Pedro.

    For more information and updates about Sterling Bank of Asia, visit www.sterlingbankasia.com and download the Sterling Bank Online App to experience secure and convenient banking.

    REFERENCE:

    Lariza Garcia

  • Sterling Bank of Asia supports San Juan’s BJMP Livelihood Program

    Sterling Bank of Asia supports San Juan’s BJMP Livelihood Program

    Sterling Bank of Asia (SBA) has selected San Juan City’s Bureau of Jail Management and Penology (BJMP)
    as one of this year’s beneficiaries of their annual Corporate Social Responsibility (CSR) program, the Kind
    Heart Gives Campaign.

    Persons Deprived of Liberty (PDL) of San Juan City’s BJMP showcased their craftsmanship in their parolmaking
    project, which also serves as an opportunity for them to support themselves and their families
    financially. The “parol,” which is one of the most iconic symbols of Filipino Christmas, is a staple
    decoration in most houses.

    “The parol is a great expression of the Filipinos’ faith and hope,” said Cecilio San Pedro, SBA’s President
    and CEO. “We’d like to take this opportunity to extend our support to the PDL’s of San Juan City as we
    move towards a brighter Christmas celebration in these challenging times,” San Pedro added.
    During the announcement of the activity, Sterling Bank of Asia employees also ordered their own parols
    to bring home and hang in their homes.

    “It is inspiring to see how our fellow employees happily bought their own parols as a way of helping
    these persons deprived of liberty,” said Dulce Edillor, SBA’s Human Resources Group Head. “From a
    company-led initiative, our fellow employees voluntarily involved themselves in the project,” exclaimed
    Edillor.

    To know more about Sterling Bank of Asia, visit www.sterlingbankasia.com.

    REFERENCE:

    LARIZA GARCIA