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March 01, 2024

BSP HQ bags DOE 5-Star energy rating anew

The headquarters of the Bangko Sentral ng Pilipinas (BSP) in Manila obtained a 5-star rating from the Department of Energy (DOE) during a recent on-the-spot energy audit.

“This recognition is a testament to our commitment to reduce energy consumption that will substantially impact not only on the economy, but more importantly, the environment,” BSP Governor Benjamin Diokno said.

DOE conducted the spot check in compliance with Republic Act 11285 or the Energy Efficiency and Conservation Act, which enjoins government offices to ensure efficient use of energy.

DOE has recognized the BSP for its energy efficiency efforts for the third time.

The BSP was also among the 10 recipients of the “Energy Efficiency and Conservation in Government Buildings” award in 2016.

Energy saving measures implemented at the BSP included the use of energy-efficient equipment for air conditioning and elevators; the replacement of fluorescent with LED lights; and installation of occupancy sensor lights in selected areas.

BSP employees are also advised to switch off room lights during noon breaks, after office hours, and when the rooms are not occupied; and to turn off electrically operated machines when not in use. When available, the power management features of electricity-powered devices are also utilized.

Moreover, the BSP has installed a solar photovoltaic system on the rooftop of one of its buildings, which saves the central bank more than P70,000 in annual power consumption.

“We have been championing energy efficiency measures that enable the BSP to create a safe, healthy, and resource-efficient work environment,” Diokno said.


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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