{"id":331800,"date":"2025-03-06T23:20:00","date_gmt":"2025-03-06T15:20:00","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=331800"},"modified":"2025-03-07T00:20:42","modified_gmt":"2025-03-06T16:20:42","slug":"trade-the-news-secbs-profit-up-23-on-strong-revenue-growth","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-secbs-profit-up-23-on-strong-revenue-growth\/","title":{"rendered":"Trade the News: SECB’s profit up 23% on strong revenue growth"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>Security Bank Corp.<\/td><\/tr>
Stock Code<\/strong><\/td>SECB<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 113.00<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

Robust revenue growth propelled Security Bank Corp. (SECB) to a record-high net income of P11.2 billion in 2024, marking a 23 percent increase from P9.1 billion a year ago.<\/p>\n\n\n\n

The jump in earnings was driven by a 28-percent jump in revenues to an all-time high of P54.9 billion.<\/p>\n\n\n\n

Security Bank president and CEO Sanjiv Vohra said in a statement that growth and investment were the defining outcomes for 2024.<\/p>\n\n\n\n

\u201cWe thank our clients, teammates and stakeholders for the partnership and collaboration. We carry that momentum into 2025 as we leverage our investments to support clients and execute on our BetterBanking promise,\u201d Vohra said.<\/p>\n\n\n\n

Security Bank\u2019s return on equity stood at 8.11 percent, while return on assets was 1.12 percent.<\/p>\n\n\n\n

For the fourth quarter alone, the bank\u2019s net income surged by 81 percent to P2.8 billion year on year.<\/p>\n\n\n\n

For 2024, net interest income grew 26 percent to P43.7 billion as net interest margin reached 4.73 percent.<\/p>\n\n\n\n

Non-interest income also expanded significantly, surging 36 percent to P11.2 billion, supported by a 47-percent jump in service charges, fees and commissions. Higher bancassurance, credit card and loan fees fueled the growth.<\/p>\n\n\n\n

Despite a 27-percent increase in operating expenses, which reflected the bank\u2019s investments in manpower and technology, Security Bank\u2019s pre-provision operating profit surged by 30 percent to P21.9 billion. Cost-to-income ratio stood at 60.2 percent.<\/p>\n\n\n\n

The bank also strengthened its provisions for credit and impairment losses, setting aside P6.6 billion, up from P4.8 billion in 2023.<\/p>\n\n\n\n

The listed bank\u2019s gross non-performing loan ratio improved to 2.85 percent in 2024 from 3.37 percent a year ago, with an NPL reserve cover of 81 percent.<\/p>\n\n\n\n

Security Bank\u2019s total assets rose by 30 percent to P1.1 trillion. Total deposits surged 32 percent to P801 billion.<\/p>\n\n\n\n

Net loans expanded 26 percent to P678 billion, driven by higher loans for retail and small businesses, led by growth in home loans, credit cards, auto loans and MSME loans.<\/p>\n\n\n\n

The bank maintained a healthy liquidity position, with a liquidity coverage ratio of 178 percent. Capital ratios also remained strong, with a common equity tier 1 ratio of 12.9 percent and a capital adequacy ratio of 13.8 percent.<\/p>\n\n\n\n

(News Source: Philippine Star<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-331800","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/331800","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=331800"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/331800\/revisions"}],"predecessor-version":[{"id":331802,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/331800\/revisions\/331802"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=331800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=331800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=331800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}