Security Bank 9-mo profit rose 7% to P9.1B

Security Bank Corp. on Friday reported a 7-percent increase in its net profit in the first nine months of the year, reaching P9.1 billion from P8.5 billion as more clients obtained loans.

The lender said in a statement that its earnings rose amid the continued reduction of the central bank’s benchmark interest rate.

The company also said that its total revenues surged by 22 percent to P48.8 billion.

Net interest income jumped 15 percent to P37.2 billion. Net loans expanded by 8 percent to P672 billion, driven mainly by retail.

In the retail segment, home loans grew by 15 percent, credit cards by 27 percent and auto loans by 42 percent.

The Bangko Sentral ng Pilipinas has been slashing policy rates, with some industry sources expecting further rate cuts next year. This, as the local economy posted slower growth in the third quarter of 2025.

With lower borrowing costs, consumers and businesses are encouraged to spend more or take out loans for housing and cars.

“We delivered another strong quarter, underscoring our continued focus on customer-centric growth, digital transformation and operational efficiency,” said Sanjiv Vohra, president and chief executive officer of Security Bank.

“Revenues continued to grow faster than expenses, with revenues rising 6.7 percent quarter-on-quarter against just a 0.8 percent growth in expenses,” the CEO said.

As the bank invested more in manpower and digital transformation, operating costs went up 20 percent.

Total deposits likewise rose 25 percent to P901 billion.

The bank’s common equity tier 1 ratio jumped to 12.7 percent, while total capital adequacy ratio increased to 13.6 percent.

Security Bank has a total of 365 branches across the country, with 15 new branches launched during the January to September period.

Last September, the firm raised P21 billion from the debt market, its largest bond issuance yet.