SECURITY Bank Corp., the fifth-largest lender in terms of assets, listed on Wednesday P8.6 billion worth of long-term negotiable certificates of time deposits at Philippine Dealing & Exchange Corp. The LTNCDs became the first instrument Security Bank listed in the platform, giving investors better access to the secondary market. HSBC and Standard Chartered Bank acted as joint lead arrangers and book runners, and were also selling agents, along with Security Bank and Multinational Investment Bancorporation. The profit was driven by a 24-percent or P2.8 billion increase in net interest income to P14.3 billion. Net income in the third quarter increased 21 percent to P2.14 billion year-on-year, driven by a 22-percent growth in net interest income to P5 billion.

Source: The Standard November 08, 2017 11:37 UTC