Category: security bank

Security Bank launches exclusive auto loan deals

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Security Bank has partnered with 11 automotive dealers when it recently launched its exclusive auto loan deals via the “Dream Wheels, Dream Deals” Auto Loans Caravan. The first leg of the caravan was held at The Terraces, Ayala Center in Cebu City.

The Security Bank “Dream Wheels, Dream Deals” Auto Loans offer lower loan rates, all-in financing, with one-year free comprehensive insurance coverage, and other exclusive car deals and discounts to enable interested customers to purchase their own vehicles.

At the Cebu caravan, Security Bank officers and representatives were present to assist interested clients with their auto loan requirements. Both walk-in and branch clients were able to avail of low rates, free insurance and all-in financing offers for their auto loan, and exciting freebies from partner dealers. Among the partner dealers were: Toyota Cebu City Inc., Cebu Southbay Automobiles Inc. (Mazda), Fast Autoworld Philippines Corp. (Mitsubishi), Fairlane Automotive Ventures Inc. (Ford), Sakura Autoworld Inc. (Suzuki), Honda Cars Cebu Inc., Isuzu Cebu Inc., Hyundai Cebu Inc., Gateway Motors (Cebu) Inc. (Kia), Autocentral Inc. (Subaru) and Nissan Cebu Distributor Inc.

Security Bank’s “Dream Wheels, Dream Deals” Auto Loans Caravan is set to roll out in Metro Manila and other provinces across the country for the rest of the year. The caravan is among the new approaches initiated by Security Bank to respond to the needs and aspirations of the growing consumer loans markets in the regions.

Security Bank goes mobile

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In line with its promise of BetterBanking, Security Bank introduces the new Security Bank Mobile App.

The Security Bank Mobile App enables users to access their accounts and do regular banking transactions anywhere. The application’s interface hallmarks a simple design that prioritizes user experience through platforms that are easy to learn and use.

Basic banking features available include account inquiry, bills payment, and tracking of enrolled eSecureSavings and credit card accounts. The app also gives its users the option to transfer funds to other Security Bank accounts, reload mobile phones regardless of network, and locate Security Bank branches and ATMs.

Aside from convenient banking on-the-go, the Security Bank Mobile App guarantees secure online banking. Users will receive a one-time password (OTP) to be sent to their registered Security Bank Online mobile number from their initial login. They will also receive email notifications for every completed financial transaction.

The new Security Bank Mobile App can now be downloaded for free on any iOS device, with the Android version to be released soon.

Security Bank goes mobile

PRNEWS Admin Leave a comment

In line with its promise of BetterBanking, Security Bank introduces the new Security Bank Mobile App.

The Security Bank Mobile App enables users to access their accounts and do regular banking transactions anywhere. The application’s interface hallmarks a simple design that prioritizes user experience through platforms that are easy to learn and use.

Basic banking features available include account inquiry, bills payment, and tracking of enrolled eSecureSavings and credit card accounts. The app also gives its users the option to transfer funds to other Security Bank accounts, reload mobile phones regardless of network, and locate Security Bank branches and ATMs.

Aside from convenient banking on-the-go, the Security Bank Mobile App guarantees secure online banking. Users will receive a one-time password (OTP) to be sent to their registered Security Bank Online mobile number from their initial login. They will also receive email notifications for every completed financial transaction.

The new Security Bank Mobile App can now be downloaded for free on any iOS device, with the Android version to be released soon.

Security Bank First Quarter Net Income Up by 135%

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Security Bank Corporation earned Php 3.36 billion in net income in the first quarter of 2015, representing 135% year-on-year growth resulting in a 28% return on shareholders’ equity (ROE).

Security Bank posted healthy growth in core business, with loan growth of 20% year-on-year to Php 199 billion and deposit growth of 17% year-on-year to Php 247 billion. The loan-to-deposit ratio was 81%. Total assets were at Php 409 billion as of March 31, 2015, 8% increase from year-ago. The return on assets (ROA) was 3.3%.

Interest income increased by 15% year-on-year and 8% quarter-on-quarter. Interest expense increased by 47% year-on-year and 11% quarter-on-quarter, reflecting the expected effect of the Php 10 billion Basel III compliant Tier 2 capital issued in July 2014 and the USD 300 million senior unsecured notes issued in January 2015. As a result, net interest income grew by 4% year-on-year and 7% quarter-on-quarter to Php 2.9 billion. Net interest margin was 3.3% for the period, same level as in Q4-2014 and versus the 3.4% average in 2014.

Non-interest income increased more than three times year-on-year to Php 3.4 billion, which included extraordinary trading gain of Php 2.1 billion from sale of investment securities. Excluding extraordinary trading gain, non-interest income was Php 1.4 billion, 72% increase year-on-year. Fee-based income inclusive of asset management posted 20% growth year-on year to Php 482 million.

Core revenues – comprising of net interest income, fee-based income, and trading gain attributable to customer flows – grew by 9% year-on-year to Php 3.6 billion.

Security Bank’s total operating income increased by 77% year-on-year and 96% quarter-on-quarter to Php 6.3 billion. Operating cost (excluding provisions for credit losses and impairments) grew by 46% year-on-year and 14% quarter-on-quarter due to taxes and licenses and intensified advertising and marketing expenses. The cost-to-income ratio was 40%. Pre-provision-and-pre-impairment income was at Php 3.8 billion, 107% increase from year-ago level. Provision for probable credit losses was Php 188 million in Q1-2015.

Asset quality remained healthy, with the net non-performing loan (NPL) ratio at 0.08% in Q1-2015, which is among the lowest in the banking industry. NPL reserve cover was at 198%, which is among the highest in the industry.

“We thank our customers and partners for their trust and support. Our core businesses – Financial Markets, Wholesale and Retail Banking – continued to produce healthy results after a robust 2014 performance. As we focus to deliver the best value to our customers and grow the Retail Bank as a third pillar to our business, we are greatly pleased to have Mr. Alfonso ’Yogi’ Salcedo, Jr. – with his depth and breadth of experience and vision in consumer banking – as our new President and CEO,” Security Bank Chairman Mr. Alberto S. Villarosa said.

Security Bank First Quarter Net Income Up by 135%

PRNEWS Admin Leave a comment

Security Bank Corporation earned Php 3.36 billion in net income in the first quarter of 2015, representing 135% year-on-year growth resulting in a 28% return on shareholders’ equity (ROE).

Security Bank posted healthy growth in core business, with loan growth of 20% year-on-year to Php 199 billion and deposit growth of 17% year-on-year to Php 247 billion. The loan-to-deposit ratio was 81%. Total assets were at Php 409 billion as of March 31, 2015, 8% increase from year-ago. The return on assets (ROA) was 3.3%.

Interest income increased by 15% year-on-year and 8% quarter-on-quarter. Interest expense increased by 47% year-on-year and 11% quarter-on-quarter, reflecting the expected effect of the Php 10 billion Basel III compliant Tier 2 capital issued in July 2014 and the USD 300 million senior unsecured notes issued in January 2015. As a result, net interest income grew by 4% year-on-year and 7% quarter-on-quarter to Php 2.9 billion. Net interest margin was 3.3% for the period, same level as in Q4-2014 and versus the 3.4% average in 2014.

Non-interest income increased more than three times year-on-year to Php 3.4 billion, which included extraordinary trading gain of Php 2.1 billion from sale of investment securities. Excluding extraordinary trading gain, non-interest income was Php 1.4 billion, 72% increase year-on-year. Fee-based income inclusive of asset management posted 20% growth year-on year to Php 482 million.

Core revenues – comprising of net interest income, fee-based income, and trading gain attributable to customer flows – grew by 9% year-on-year to Php 3.6 billion.

Security Bank’s total operating income increased by 77% year-on-year and 96% quarter-on-quarter to Php 6.3 billion. Operating cost (excluding provisions for credit losses and impairments) grew by 46% year-on-year and 14% quarter-on-quarter due to taxes and licenses and intensified advertising and marketing expenses. The cost-to-income ratio was 40%. Pre-provision-and-pre-impairment income was at Php 3.8 billion, 107% increase from year-ago level. Provision for probable credit losses was Php 188 million in Q1-2015.

Asset quality remained healthy, with the net non-performing loan (NPL) ratio at 0.08% in Q1-2015, which is among the lowest in the banking industry. NPL reserve cover was at 198%, which is among the highest in the industry.

“We thank our customers and partners for their trust and support. Our core businesses – Financial Markets, Wholesale and Retail Banking – continued to produce healthy results after a robust 2014 performance. As we focus to deliver the best value to our customers and grow the Retail Bank as a third pillar to our business, we are greatly pleased to have Mr. Alfonso ’Yogi’ Salcedo, Jr. – with his depth and breadth of experience and vision in consumer banking – as our new President and CEO,” Security Bank Chairman Mr. Alberto S. Villarosa said.