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March 02, 2024

Security Bank director follows footsteps of chairman, buys more shares

An independent director of Security Bank Corp. led by bankero Sanjiv Vohra has followed the footsteps of the bank’s chairman of the Board of Directors and acquired more shares of the listed lender.

Enrico Cruz, an independent director of Security Bank, spent P10.41 million to acquire 100,000 shares of Security Bank last March 15.

Cruz bought the shares at P104.0772 per share, increasing his shareholdings to 121,000.

The shares of Security Bank was unchanged at P110 per share.

Security Bank chairman Alberto Villarosa spent P25.63 million to acquire 231,840 shares at P110.55873 per share last March 11.

Then days later, Villarosa spend P5.15 million more to purchase 47,630 more shares at P108.13038 per piece.

After the buying binge, Villarosa’s shareholdings aggregated four million common shares.


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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