MANILA, Philippines --- Key local lender Security Bank posted a 1.5-percent year-on-year growth in first quarter net profit to P2.38 billion, driven by higher interest earnings and treasury gains. Total revenues grew by 20 percent year-on-year to P7.6 billion in the first three months, Security Bank disclosed to the Philippine Stock Exchange on Monday. A core revenue component, net interest income from customer loans and deposits, grew by 29 percent year-on-year to P4.7 billion. This was driven by the continued expansion of retail loans and low-cost deposits. Retail loans expanded by 49 percent, while low-cost deposits increased by 11 percent. Retail loans now acco...
Keep on reading: Security Bank Q1 2019 profit grows to P2.38B
from INQUIRER.net http://bit.ly/2DR4kwm
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