April 02, 2013

Security Bank Record Net Income of P7.5 Billion

In 2012, Security Bank ended the year with an all-time high net income of P7.5 billion and a ROE of 22%. Customer loans has grown by 30% YOY to P119.6 billion while deposits increased by 19% to P142.4 Billion.

This translated to an 8% increase in net interest income. As a result, the net interest margin in 2012 was 3.94% slightly lower than the 4.08% in 2011.

The non-interest income line item increased by 44% mainly due to higher trading gains on securities as well as fee-based income.

The bank ended the year with the total assets of P259.5 billion for a 21% growth rate on the back of strong macroeconomic fundamentals. The ROA was 3.3%