Security Bank Corp.’s net income surged to P2.9 billion in the first three months of 2020. Total net interest income climbed by 41 percent to P8.1 billion, while net interest margin improved to 4.68 percent, up 129 basis points year-on-year. Sanjiv Vohra, Security Bank president and chief executive officer, said the bank entered the challenging period with a strong balance sheet and healthy liquidity and capital positions. Security Bank has a common equity tier-1 ratio of 16.5 percent and a total capital adequacy ratio of 17.6 percent. Security Bank shares rose by P1.50 or 1.49 percent to close at P102 each on Tuesday.

Source: Manila Times April 28, 2020 17:03 UTC