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March 01, 2024

CBS opens new Easi-APDS loan office in Cebu

CBS China Bank Savings (CBS) launched its new branch in Balamban, Cebu, on Monday, March 20, 2023.

The branch is situated at D.C. Sanchez Street in Sta. Cruz, Balamban, and is open for business from 8:30 a.m. to 5:30 p.m. every Monday to Saturday.

CBS Balamban’s focus is on catering to the financing requirements of Department of Education teachers and employees, offering low-interest loans of only 7.5% per annum on APD salary loans with terms ranging from 12 to 60 months.

CBS is the retail lending subsidiary of China Banking Corporation.


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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