Security Bank Income Grows 8% in 6 Months

The income of Security Bank Corp. rose by eight percent to P5.9 billion in the first half on the back of double-digit revenue gains and robust loan growth.

- By KEISHA TA-ASAN

In a disclosure to the local bourse, the bank said total revenues climbed by 23 percent to P31.6 billion from January to June, supported by higher interest and non-interest income.

Net interest income increased by 12 percent to P24.3 billion, with net interest margin steady at 4.56 percent.

Non-interest income also surged by 81 percent to P7.2 billion, boosted by trading gains and service fees.