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March 01, 2024

SBFI renovates school buildings in Negros Occidental

Security Bank Foundation Inc. (SBFI) spearheaded the renovation on two of its donated school buildings in Bacolod City under its “Build a School, Build a Nation Classrooms Project.”

According to the lender, this was in support of the resumption of in-person classes in the province.

SBFI prioritized the repair of the two-storey, six-classroom school buildings in Emiliano Lizares National High School (ELNHS) and in Antonio L. Jayme Elementary School (ALJES). Both were damaged by the earthquakes that struck the Negros Occidental capital city in December 2019 and June 2020.

“We appreciate the continuing support of SBFI [through the major repairs] of school facilities. They have ensured that the students and teachers of ELNHS and ALJES have access to adequate and structurally safe buildings that play an important role in quality learning for our young learners,” said Department of Education-Bacolod City Schools Division Superintendent Dr. Gladys Amylaine Sales.


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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