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March 01, 2024

Ayala Land, BPI Foundation unveil new branch of Sinag Sari-Sari Social Enterprise Store

The bank unveiled its new initiative to empower social enterprises.

Entrepreneur and Bankero Jaime Augusto Zobel de Ayala recently spearheaded the formal inauguration of the second Sinag Sari-Sari Social Enterprise Store in Glorietta.

This project is a joint initiative of BPI Foundation and Ayala Land through Alagang AyalaLand and BPI Foundation under the auspices of its Sinag program that intends to nurture and empower the social enterprise sector through capacity building, market access, and financial support.

The first Sinag Sari-Sari Social Enterprise Store was unveiled in TriNoma last year.


Security Bank posts net income of PHP9.1 billion in 2023

Security Bank Corporation (PSE: SECB) posted net income of PHP9.1 billion in 2023. Total revenues grew 8% year-on-year to PHP43.0 billion. Net interest income increased 19% to PHP34.7 billion. Net interest margin for the full year was 4.49%, higher compared to 4.23% in 2022. Total non-interest income was at PHP8.2 billion. Service charges, fees and commissions grew 15% to PHP6.1 billion, led by increase in fees from credit cards, remittances (which include Instapay fees) and bancassurance.

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