Non-hobby income

Non-hobby income, consisting of securities buying and selling profits, declined to P1.Eight billion from P2.Four billion a 12 months in the past.
Its mortgage book grew 28 percent yr-on-year to P305 billion, at the same time as wholesale loans improved 26 percent. Consumer loans grew fifty one percent, at the same time as net interest margin was maintained at 3.1 percent.

The financial institution said its asset first-class remained healthy, with net non-acting loan (NPL) ratio at 0.14 percent, decrease than the zero.29 percent recorded a year in the past. It stated NPL reserve cowl remained excessive at 197 percentage as opposed to 171 percent a 12 months ago.

Deposits multiplied 34 percentage to P379 billion, at the same time as low-price deposits grew 19 percent. Its total belongings were at
P729 billion, up 41 percentage from the same period ultimate year.

The lender said its fee-to-earnings ratio remained at an efficient 47 percentage, at the same time as working fee increase fee, except provisions for possibly credit losses and impairments, turned into 18 percent

“We’re thrilled with the loan and deposit growth which has sustained internet hobby earnings boom. The Bank has been able to manage the value-to-income ratio within the midst of heavy investments in department network, information technology and those. These are investments for the future on the way to allow us to scale up the enterprise,” Security Bank President and Chief Executive Officer Mr. Alfonso Salcedo Jr. Said.

Security Bank stated it has effectively upgraded its core banking gadget as part of its technology transformation program. The new device, utilized by leading economic establishments globally, will allow the financial institution to roll out new products and services a good deal quicker, it stated.

On April 25, the corporation’s Board of Directors authorized a cash dividend of P1.50 consistent with proportion payable on May 25 this year to stockholders of record on May 11. LISTED diverse firm Pryce Corp. Said on Tuesday its net profits inside the first area of 2017 rose 53.6 percent to P301.7 million from P196.4 million a year earlier on the lower back of sturdy sales of cooking gas.

In a disclosure to the Philippine Stock Exchange (PSE), the organization said consolidated sales grew fifty two.3 percentage from a yr in the past on higher sales extent of liquefied petroleum fuel (LPG) and the sizable number of new LPG cylinders bought beneath the PryceGas brand of its subsidiary Pryce Gases, Inc. During the beyond yr.

Year-on-year extent rose 22.1 percentage to 49,560 metric lots in the first region from 40,583 MT last yr. However, contract charges (CP) of LPG also accelerated. From $408 consistent with MT in December 2016, LPG settlement prices rose to $477, $573, and $564 in line with MT in January, February, and March of 2017, respectively, the organization stated.