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March 01, 2024

DBM approves P25.16 Billion to provide health insurance for 8 million Filipino indigents

The Department of Budget and Management (DBM) has approved the release of P25.16 billion to the Philippine Health Insurance Corp. (PhilHealth) to provide health insurance coverage for over 8 million Filipino indigents.

The move is in line with President Ferdinand R. Marcos Jr.’s mandate to ensure affordable healthcare for all citizens, particularly the poor.

The funding will be sourced from authorized allotments under the 2023 General Appropriations Act, following criteria set by the Department of Social Welfare and Development.

This follows a previous release of over P42 billion for health insurance coverage of senior citizens.

Headline: DBM Approves P25.16 Billion to Provide Health Insurance for 8 Million Filipino Indigents


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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