Security Bank Corp. on Friday reported a 7-percent year-on-year increase in net profit to P9.1 billion in the first nine months of 2025, led by a 22-percent surge in total revenues to P48.8 billion.
“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. This drove stronger efficiency and profitability, as reflected in our improved cost-to-income and ROE ratios. Backed by a healthy balance sheet, we remain focused on sustainable growth and delivering better experiences for our customers,” said Security Bank president and chief executive Sanjiv Vohra.
The bank’s pre-provision operating profit (PPOP) for the nine-month period was P20.4 billion, up 24 percent from a year ago.
Net interest income climbed 15 percent year-on-year to P37.2 billion, with the net interest margin improving to 4.70 percent. Total non-interest income also saw a significant increase of 52 percent to P11.6 billion.
Operating expense for the nine-month period was 20 percent higher, reflecting continued investments in manpower and technology.
Despite this, the cost-to-income ratio improved to 58.1 percent from 58.8 percent a year ago, reflecting improved efficiency.
The bank said it set aside P8.6 billion as provisions for credit losses, up from P5.1 billion a year earlier. The gross non-performing loan (NPL) ratio improved to 3.02 percent, and NPL reserve cover rose to 86 percent.
Third-quarter net profit amounted to P3.2 billion, up 6.7 percent from the previous year and a 5.7 percent increase from the prior quarter.
Total revenues for the quarter increased 20 percent year-on-year to P17.2 billion.
The bank said it maintained a strong balance sheet with total deposits increasing 25 percent year-on-year to P901 billion.
Net loans expanded 8 percent to P672 billion, led by 24 percent growth in retail loans, which now account for 33 percent of total loans.
Credit cards grew 27 percent; auto loans, 42 percent; and home loans, 15 percent. Total investment securities stood at P354 billion, up 26 percent.
The bank’s capitalization remained healthy. Common equity tier 1 (CET1) ratio increased to 12.7 percent from 12.3 percent in the previous quarter, while total capital adequacy ratio (CAR) increased to 13.6 percent. Total assets rose 11 percent year-on-year to P1.14 trillion.
Security Bank said its board of directors approved a second semestral regular cash dividend of P1.50 per common share, bringing the total cash dividends for the year to P3 per common share.
