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March 02, 2024

BDO exec gets P6.15M from selloff after May 9 polls

A top executive of BDO Unibank Inc. headed by bankero Nestor Tan raised a total of P6.15 million after cutting his shareholdings a day after the May 9 presidential, national, and local elections.

BDO executive vice president Luis Santos Reyes Jr. unloaded 47,500 shares of the Sy-led bank last May 10 at a price range of P129 to P130 per share.

After the selloff, Reyes still owns 782,080 shares of BDO.


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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