WebClick Tracer

March 02, 2024

New DBP independent director named

Development Bank of the Philippines led by bankero Emmanuel Herbosa has named Consuelo Padilla as a member of the bank’s Board of Directors.

Padilla replaced Rafael Reyes who was appointed last July 1, 2021.

Padilla will serve the unexpired term of Reyes that is scheduled to end on June 30 this year.

Padilla is on the board of PTFC Redevelopment Corp. Prior to this appointment, Padilla also served as vice president-treasury and metals risk management at Philippine Associated Smelting & Refining Corp. and research assistant-CIDA projects at Asian Institute of Management (AIM).

She also served chair person of the Landbank Countryside Development Foundation Inc. (LCDFI).

Earlier, Malacañang named former Subic Bay Metropolitan Authority (SBMA) chair and administrator Wilma Eisma as a member of the Board of Directors of DBP.

Eisma took her Oath of Office last March 1 and assumed office last March 2.

Both Padila and Eisma are independent and non-executive directors of the state-run bank.

Eisma stepped down as head of SBMA last March 1 after leading the agency for five years.


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.

Read More ...