Security Bank Corp. (philippines) · PSE:SECB
Security Bank Corp. (philippines) — Security Bank — FY2024 Earnings Presentation
13 slides from Security Bank Corp. (philippines)'s earnings presentation, Mar 5, 2025
Slide 1: 2024 Results Highlights
2024 Results Highlights By: Sanjiv Vohra, President & CEO March 5, 2025
Slide 2: Revenues and Net Income
Revenues and Net Income Revenues Net Income ₱54.9 Billion ₱11.2 Billion +28% 54.9 +23% 11.2 +₱12.0 B +₱2.1 B 43.0 9.1 FY 2023 FY 2024 FY 2023 FY 2024 2 Note: Numbers may not sum up due to rounding
Slide 3: Net Interest Income and Non-Interest Income
Net Interest Income and Non-Interest Income Net Interest Income ₱43.7 Billion +26% 43.7 34.7 +9.0 B FY 2023 FY 2024 Total Non-Interest Income Service Charges, Fees & Commissions ₱11.2 Billion +36% 11.2 ₱8.9 Billion 8.9 +47% 8.2 +₱3.0 B 6.1 +₱2.9 B FY 2023 FY 2024 FY 2023 FY 2024 3 Note: Numbers may
Slide 4: Cost-to-Income Ratio and Operating Expense
Cost-to-Income Ratio and Operating Expense Cost-to-Income Ratio Operating Expense* 60.2% ₱33.1 Billion 60.8% 60.2% +27% 33.1 +₱7.0 B YoY growth 26.1 10.8 +22% Compensation and fringe benefits 8.9 +18% 3.8 Taxes and licenses FY 2023 FY 2024 +29% 3.7 Depreciation and amortization 3.2 0.5 +21% Occupanc
Slide 5: Total Loans, Investment Securities and Deposits
Total Loans, Investment Securities and Deposits Total Loans* Loans & Investment in Corp. Bonds ₱678 Billion +26% YoY 678 ₱740 Billion +24% 740 538 +₱139 B 598 YoY 195 29% +₱142 B 62 +37% 144 27% Retail & MSME Combined 20 3% 60 13 2% 463 678 381 71% +21% 68% 538 Dec. 31, 2023 Dec. 31, 2024 Dec. 31, 2
Slide 6: Asset Quality
Asset Quality Gross NPL Ratio and NPL Reserve Cover Allowance over Total Loans 2.34% 82% 79% 81% * 2.80% 2.61% 3.37% 2.34% 3.08% 2.85% Dec. 31, 2023 Sep. 30, 2024 Dec. 31, 2024 Dec. 31, 2023 Sep. 30, 2024 Dec. 31, 2024 *Gross NPL Ratio (conso) 6
Slide 7: Provisions for Credit and Impairment Losses
Provisions for Credit and Impairment Losses Provisions for Credit and Impairment Losses Provisions per Segment ₱6.6 Billion In Php millions Retail FY 2023 4,970 FY 2024 5,422 6.6 Wholesale 107 904 Business Banking 571 263 4.8 Financial Markets (2) 0 Others (845) 21 Total 4,801 6,610 In Php millions
Slide 8: Balance Sheet and Key Financial Ratios
Balance Sheet and Key Financial Ratios Total Assets Loans & Investment Securities ₱1.13 Trillion +30% ₱1.02 Trillion 1,016 1,129 +33% +₱258 B 872 765 +₱251 B 60% 678 62% 538 30% 26% 338 227 12% 10% Dec. 31, 2023 Dec. 31, 2024 Dec. 31, 2023 Dec. 31, 2024 Total Liabilities CET 1 and Total CAR ROE and
Slide 9: Quarterly Financial Highlights
Quarterly Financial Highlights Total Revenues Operating Expenses* ₱14.9 Billion 14.4 14.9 ₱9.5 Billion 12.5 13.2 9.5 11.8 8.5 7.2 7.6 7.4 Q4-2023 Q1-2024 Q2-2024 Q3-2024 Q4-2024 Q4-2023 Q1-2024 Q2-2024 Q3-2024 Q4-2024 Net Interest Income Net Interest Margin ₱11.3 Billion 4.49% 10.0 10.7 10.9 10.7 11
Slide 10: Quarterly Financial Highlights
Quarterly Financial Highlights Total Loans* Total Deposits ₱678 Billion ₱801 Billion +11% +9% 678 QoQ 801 623 QoQ 720 +₱81 B +₱55 B 195 29% 179 29% +10% 420 52% +11% Retail & 20 3% 378 53% 17 3% MSME Combined 427 68% +9% 463 68% 342 47% +12% 381 48% Sep. 30, 2024 Dec. 31, 2024 Sep. 30, 2024 Dec. 31,
Slide 11: Quarterly Financial Highlights
Quarterly Financial Highlights Service Charges Fees & Commissions Provisions for Credit & Impairment Losses ₱2.2 Billion 3.1 ₱1.5 Billion 2.2 2.2 1.8 1.8 1.8 1.8 1.8 1.5 1.5 Q4-2023 Q1-2024 Q2-2024 Q3-2024 Q4-2024 Q4-2023 Q1-2024 Q2-2024 Q3-2024 Q4-2024 Pre-Provision Operating Profit Net Income ₱5.4
Slide 12: Summary
Summary 1. 2024: Strong Growth • Loans: Retail & MSME: +37% YoY / Wholesale: +21% YoY • Investment Securities: +49% YoY • CASA: +16% YoY / Total Deposits: +32% YoY 2. 2025: Profitable Growth • Ambition: 10% ROE 3. 2025: Strategic Initiatives: • Digital Apps: Retail, Corporate & MSME • Mitsubishi Mot
Slide 13: 2024 Results Highlights
2024 Results Highlights By: Sanjiv Vohra, President & CEO March 5, 2025