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March 02, 2024

Hans Sy beefs up shareholdings in China Bank

China Banking Corp. chairman Hans Sy spent P22.6 million to beef up his shareholdings in the listed-bank led by bankero William Whang last month.

Sy acquired 780,000 shares at P25.80 per share for a total consideration of P20.12 million last March 14.

The following day, the bank chairman spent another P2.48 million to purchase 95,400 shares at P26 per share.

After the buying spree, Sy’s direct ownership in the bank consisted of 1.54 million shares, while his indirect shareholdings total 3.71 million shares.

The shares of China Bank gained 20 centavos to close at P27 per share on Tuesday.


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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