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March 02, 2024

Lender lends Marawi a hand

BDO through its foundation helped in rebuilding Marawi City in Lanao del Sur.

In a Facebook post, the bank shared that it has donated school supplies and other learning materials to more than 300 students in the city who experienced the siege in 2017.

“BDO Foundation and BancNet provided backpacks, notebooks and other school supplies to more than 300 kindergarten and elementary students of Nanapun Elementary School in Marawi City, Lanao del Sur.”

The bank also expressed it support to the Department of Education and pledged its help to aid in the resumption of in-person classes in the city amid the pandemic.

“Supportive of the Department of Education’s Balik Eskwela program, the initiative helps the schoolchildren prepare for the resumption of face-to-face classes.”


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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