WebClick Tracer

March 01, 2024

UnionBank losses 2 more execs

Union Bank of the Philippines headed by bankero Edwin Bautista lost two more key executives.

The Aboitiz-led bank informed the Philippine Stock Exchange (PSE) that head of asset and liability portfolio Ma. Christina Escolar as well as head of digital products business Harold Benjamin Libarnes have tendered their resignation.

The resignation of both first vice presidents takes effect on March 16.

Both executives cited personal reasons as the cause of their resignation.

Early this month, UnionBank also lost lawyer Nathan Marasigan and Richard Rigonan who also tendered their resignations for personal reasons.


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.

Read More ...