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March 01, 2024

PayMongo entrepreneur hints of greater things in the offing

PayMongo co-founder Luis Sia reposted a feature article on his Facebook account announcing the latest milestone of the enterprise.

The Bankero wrote on his account, “A huge thank you to all our partners that made this Series B possible. With this, we hope to enable more businesses to participate in the digital economy within the Philippines and beyond.”

Before ending the post, he teased: “PayMongo is just getting started.”

Excited for it!


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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