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March 02, 2024

BDO grants 30 centavos per share dividend to shareholders 

BDO Unibank Inc. led by bankero Nestor Tan has awarded a P0.30 per share cash dividend for the first quarter of the year after reporting a sharp increase in earnings last year.

The Board of Directors of the country’s largest lender approved the declaration of regular cash dividends on common shares to all stockholders as of March 14, 2022.

The dividend is payable on March 31.

The listed bank owned by the family of the late retail and banking magnate Henry Sy reported a 51 percent jump in net income to P42.8 billion last year from P28.2 billion in 2020.

“This reflects the bank’s operational resiliency notwithstanding COVIO-19-related headwinds depressing loan activity for much of 2021. Overall business conditions appeared to be improving late 2021,” BDO earlier said in a statement.

BDO owns the country’s largest distribution network, with over 1,500 consolidated operating branches and more than 4,400 ATMs nationwide. It also has 18 overseas remittance and representative offices in Asia,


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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