6 months Security Bank net earnings dip to P8.6 B MB |Biz
By James A. Loyola Security Bank Corporation posted a 16 percent decline in net income to P8.6 billion last year from P10.3 billion in 2017 due to lower trading gains and higher taxes. Security Bank logo (Courtesy of securitybank.com) In a disclosure to the Philippine Stock Exchange, the bank said a key component of its earnings is net interest income from customer loans and deposits, which increased by 30 percent to P15.7 billion. This was driven by the continued expansion of consumer loans and low-cost deposits. Consumer loans grew 47 percent while low-cost deposits increased 15 percent. Consumer loans now ... more