Security Bank sees up to 15% higher lending - News Summed Up

Security Bank sees up to 15% higher lending


MANILA, Philippines — Listed Security Bank Corp. sees its loan book growing faster this year amid the strong jump in retail lending as well as sustained increase in disbursements to the wholesale sector. Alfonso Salcedo, president and chief executive officer of Security Bank, said the rise in the bank’s lending would accelerate to around 13 to 15 percent this year from 12 percent last year. Security Bank’s loan book expanded by 12 percent to P416 billion, while its deposit base went up by 18 percent to P489 billion. Its wholesale loan grew seven percent while retail lending surged 47 percent. “Around 13 to 15 percent if the Build Build Build and then the expansionary spending of the government happen sooner than later maybe credit growth could be back to 17 percent.


Source: Philippine Star March 21, 2019 17:03 UTC



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