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March 01, 2024

PNB prexy meets Japanese Embassy officials

Philippine National Bank president and CEO Wick Veloso met with officials of the Embassy of Japan in Manila during a courtesy visit.

The bankero and his visitors talked about the opening up of the economy and Japanese investments and official development assistance (ODA) into the Philippines.

The discussions focused on challenges and opportunities as the Philippine economy is recovering and is opening up to more activity.

Veloso’s visitors included Minister for Economic Affairs Masahiro Nakata and Financial Attaché Kotaro Yamaguchi.


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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