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March 01, 2024

UnionBank prexy beefs up shareholdings

Bankero Edwin Bautista gobbled up more than 14,000 shares of Aboitiz-led Union Bank of the Philippines for a total consideration of P1.33 million this week.

UnionBank said in a disclosure to the Philippine Stock Exchange (PSE) that Bautista spent P1.08 million to purchase 11,390 shares at P95 per share last March 14.

On March 15, the bank president and chief executive officer acquired 2,690 shares at P95 per piece, for a total consideration of P255,550.

The shares of UnionBank gained 80 centavos to close at P89.90 per share from P89.10 per shares last Wednesday.


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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