Security Bank Corp. improved its net income by eight percent to ₱5.9 billion in the first half of the year as total revenues grew 23 percent year-on-year to ₱31.6 billion on the back of a jump in non-interest earnings. The bank said in a disclosure to the Philippine Stock Exchange that its...
Even with the threat of an influx of American cars into the local market, Security Bank Corporation believes its joint venture with Mitsubishi Motors Philippines Corporation (MMPC) can withstand the impacts of the zero tariff on United States (US)-made goods on the competitiveness of Japanese cars....
Security Bank Corp. announced that its Chief Financial Officer, Eduardo M. Olbes, will retire on Sept. 15, 2025, but, his replacement, Allen Alexander P. Reyes, will be onboard by Aug. 11, 2025, to facilitate the transition. In a disclosure to the Philippine Stock Exchange, the bank said that,...
The doubling of non-interest income plus much stronger retail and MSME loans pushed up the first quarter 2025 net earnings of Security Bank Corporation by seven percent to ₱2.8 billion as total revenues grew 23 percent year-on-year to ₱15.4 billion. The bank disclosed to the Philippine Stock...
While Security Bank Corp. shows overall financial stability, credit rater Moody’s Ratings revised its outlook on the bank’s ratings to negative, citing lingering risks, including the decline in its capital buffer, rapid loan growth, and reduced ability to absorb losses. “We revised the...
MacroAsia Corp., a member of the Lucio Tan group of companies, has signed a ₱1.41-billion financing agreement for its seawater desalination plant project in Lapu-Lapu City. In a disclosure to the Philippine Stock Exchange, the firm said the loan agreement was formally executed by representatives...
Security Bank Corporation reported a 23 percent year-on-year growth in net income to a record-high ₱11.2 billion in 2024, as revenues rose 28 percent to also hit an all-time high of ₱54.9 billion. “Growth and investment were the defining outcomes for 2024. We thank our clients, teammates, and...
Big banks’ reserve requirements ratio (RRR) could eventually drop to zero percent by 2028 or the end of the central bank governor’s term, according to Security Bank Corp. Speaking to reporters on Wednesday, Feb. 26, Security Bank chief economist Angelo Taningco said he expects the Bangko...
Although the Philippine economy is considered relatively insulated from the potential trade war, Security Bank Corp. chief economist Angelo Taningco cautioned that the country is not entirely immune, identifying the trade war's prospects as the gravest threat. Despite expecting less impact compared...
Security Bank Corp. aims for a 10 percent return on equity (ROE) this year while enhancing its digital and physical presence to meet the growing demands of consumers and businesses. In a briefing, Eduardo Olbes, chief financial officer of Security Bank, said that the bank expects fluctuations in...
In the photo from left to right: Ollygar Von Palay (Finance Manager, WeFund Lending Corp.), Francisco “Coco” Mauricio (President and CEO, WeFund Lending Corp.), John Cary L. Ong (Executive Vice President, Security Bank), Alexis Xu (Chief Financial Officer, Finvolution Group), Earvin...
Security Bank Corporation has assumed management of three FWD Life Insurance Variable Life (VL) funds to offer customers integrated financial solutions that blend life insurance benefits with professionally managed investments. Security Bank, in a Dec. 20 statement, reported that the three VL...
