By the staff
Security Bank Corp. saw its net profit rise 7 percent to P9.1 billion in the first nine months of 2025, driven by growth in its retail lending portfolio.
Total revenues jumped 22% to P48.8 billion as of end-September. Net loans increased 8 percent to P672 billion, buoyed by a 24% jump in retail lending.
Auto loans saw the largest gain at 42 percent followed by credit cards at 27 percent and home loans at 15 percent.
“On a sequential basis, retail loans were up 2.5 percent quarter on quarter. Retail loans account for 33 percent of total loans, up from 29 percent a year ago,” the bank said.
Net interest income rose 15 percent to PHP37.2 billion, while net interest margin expanded to 4.70 percent from 4.56 percent at the end of the first half. Total non-interest income grew 52 percent to P11.6 billion.
Gains from service charges, fees, and commissions declined to P6.3 billion from P6.7 billion in the same period last year, due to the one-off bancassurance milestone fee in the first quarter of 2024.
“Excluding the milestone fee, 9M-2025 service charges, fees, and commissions increased 20 percent year on year, led by credit cards, payment services, and capital market fees,” it added.
