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March 01, 2024

RCBC director resigns due to health reasons

An independent director of Rizal Commercial Banking Corp. (RCBC) led by bankero Eugene Acevedo tendered her resignation due to health reasons.

The resignation of Adelita Vergel de Dios takes effect on July 16. She is one of the five independent directors of the Yuchengco led bank.

De Dios, 75, has been an independent director of the RCBC since June 2016.

She was also an Independent Director of RCBC Savings Bank before the merger of the same into RCBC.

She served as Commissioner of the Insurance Commission and held directorship and officership positions in various companies.

De Dios obtained her Bachelor of Business Administration and Accounting and Bachelor of Laws (Magna Cum Laude) from the University of the East. She is a Certified Public Accountant and a Member of the Integrated Bar of the Philippines.


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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