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March 01, 2024

Citystate Savings Bank pirates RCBC exec

Citystate Savings Bank led by bankero Benjamin Ramos has tapped the services of a former executive of Rizal Commercial Banking Corp. (RCBC) headed by bankero Eugene Acevedo to head its business process management department.

The bank owned by the family of the late Ambassador Antonio Cabangon-Chua has hired Irene Nulud as assistant vice president effect April 27.

Before joining Citystate Savings Bank, Nulud was team leader of RCBC’s business process management department until March this year.

Prior to her stint in RCBC, Nulud also worked as senior systems and methods analyst/administrative officer of Planters Development Bank between April 2011 and October 2013 before serving as senior systems and methods analyst/assistant manager from November 2013 to January 2016.

Nulud, with a Bachelor’s Degree of Science Major in Management from Sta. Isabel College, started her banking career with the Banco Filipino Savings and Mortgage Bank from August 1998 to March 2011.

Nulud held various positions such as Research Assistant of Systems Department, Senior Loans Data Assistant of Repayments and Reports Management Department, and Supervisor of Branches Administration and Development Department – Branch Operations Support in the closed bank.


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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