Security Bank Corp. reported higher revenues and steady profit in the first nine months of 2025, attributing this to stronger lending activity, higher interest income, and continued growth in deposits.
Total revenues reached ₱48.8 billion in the period, higher by 22% from a year ago. Net profit was ₱9.1 billion, up 7% year-on-year. The bank said the growth comes from its lending business, where it earns the bulk of its income.
“We delivered another strong quarter, underscoring our continued focus on customer-centric growth, digital transformation, and operational efficiency,” said Sanjiv Vohra, president and CEO of Security Bank.
Net interest income grew to ₱37.2 billion, higher by 15% from last year. This means the bank earned more from loans after covering the cost of interest paid to depositors. The net interest margin, which shows how much the bank earns for every peso it lends out, improved to 4.70%. Non-interest income, which includes earnings from fees and other services, reached ₱11.6 billion, higher by 52%. Without last year’s one-time fee from an insurance partnership, fees and commissions increased 20%, supported by credit card use, payment services, and capital market activities.
Operating expenses increased 20% as the bank hired more employees and upgraded its technology systems. Despite the increase, the cost-to-income ratio improved to 58.1%, meaning revenues grew faster than expenses.
“Revenues continued to grow faster than expenses, with revenues rising 6.7% quarter-on-quarter against just a 0.8% growth in expenses,” said Vohra. “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.”
The bank set aside ₱8.6 billion in provisions for credit losses, higher than last year’s ₱5.1 billion. This reserve is meant to cover potential unpaid loans. Its non-performing loan (NPL) ratio improved to 3.02% from 3.16% in the previous quarter. NPL coverage increased to 86%, giving the bank a larger buffer for risky accounts.
For July to September 2025, Security Bank posted a net profit of ₱3.2 billion, up 6.7% from a year earlier. Revenues for the quarter rose to ₱17.2 billion. Net interest income for the quarter rose to ₱12.9 billion, while non-interest income reached ₱4.3 billion.
Deposits grew 25% year-on-year to ₱901 billion, giving the bank more funds to lend. Low-cost CASA deposits grew 17% and made up nearly half of total deposits. Net loans increased 8% to ₱672 billion, led by retail loans. Home, auto, and credit card loans all grew, showing continued borrowing by households. Retail loans now account for 33% of total loans.
The bank expanded its branch network to 365 branches nationwide. Liquidity and capital levels remained above regulatory minimums, with an LCR of 189% and an NSFR of 143%. Shareholders’ equity rose to ₱153.2 billion.
The board approved a second cash dividend of ₱1.50 per share, payable on Nov. 26. This brings total dividends for the year to ₱3.00 per share.