13 slides from Security Bank Corp. (philippines)'s earnings presentation, Nov 15, 2024
Slide 1: 9M-2024 Results Highlights
9M-2024 Results Highlights By: Sanjiv Vohra, President & CEO November 15, 2024
Slide 2: Revenues and Net Income
Revenues and Net Income Revenues Net Income ₱40.0 Billion ₱8.5 Billion +28% +12% 8.5 40.0 +₱8.8 B 7.6 +₱0.9 B 31.2 9M-2023 9M-2024 9M-2023 9M-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 ₱32.4 Billion +31% 32.4 24.7 +7.7 B 9M-2023 9M-2024 Total Non-Interest Income Service Charges, Fees & Commissions ₱7.6 Billion 7.6 ₱6.7 Billion +18% +55% 6.7 6.5 +₱1.2 B 4.3 +₱2.4 B 9M-2023 9M-2024 9M-2023 9M-2024 3 Note: Numbers may no
Slide 4: Cost-to-Income Ratio and Operating Expense
Cost-to-Income Ratio and Operating Expense Cost-to-Income Ratio Operating Expense* 58.8% ₱23.5 Billion 60.7% 58.8% +24% 23.5 +₱4.6 B YoY growth 18.9 8.1 +26% Compensation and fringe benefits 6.4 +18% Taxes and licenses 2.8 9M-2023 9M-2024 +27% Depreciation and amortization 2.4 2.6 +17% Occupancy cos
Slide 5: Total Loans, Investment Securities and Deposits
Total Loans, Investment Securities and Deposits Total Loans* Loans & Investment in Corp. Bonds ₱623 Billion +24% YoY 623 ₱685 Billion +22% 685 502 +₱121 B 563 YoY +38% 179 29% +₱122 B 62 131 27% Retail & MSME Combined 17 3% 60 11 2% 427 68% 623 361 71% +19% 502 Sep. 30, 2023 Sep. 30, 2024 Sep. 30, 2
Slide 6: Asset Quality
Asset Quality Gross NPL Ratio and NPL Reserve Cover Allowance over Total Loans 2.61% 92% 81% 79.5% 2.95% * 2.72% 2.61% 3.15% 3.31% 3.08% Sep. 30, 2023 Jun. 30, 2024 Sep. 30, 2024 Sep. 30, 2023 Jun. 30, 2024 Sep. 30, 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 ₱5.1 Billion In Php millions Retail 9M-2023 2,959 9M-2024 3,906 5.1 Wholesale (116) 811 Business Banking 404 350 Financial Markets (1) 0 Others (625) 21 2.6 Total 2,621 5,088 In Php million
Slide 8: Balance Sheet and Key Financial Ratios
Balance Sheet and Key Financial Ratios Total Assets Loans & Investment Securities ₱1.03 Trillion +26% ₱903 Billion +26% 903 1,028 +₱213 B 718 815 +₱185 B 61% 623 62% 502 27% 27% 280 216 12% 12% Sep. 30, 2023 Sep. 30, 2024 Sep. 30, 2023 Sep. 30, 2024 Total Liabilities CET 1 and Total CAR ROE and ROA
Slide 9: Quarterly Financial Highlights
Quarterly Financial Highlights Total Revenues Operating Expenses* ₱14.4 Billion 13.2 14.4 ₱8.5 Billion 11.8 12.5 10.6 8.5 7.2 7.6 7.4 6.5 Q3-2023 Q4-2023 Q1-2024 Q2-2024 Q3-2024 Q3-2023 Q4-2023 Q1-2024 Q2-2024 Q3-2024 Net Interest Income Net Interest Margin ₱10.7 Billion 10.7 10.9 10.7 4.66% 5.32% 5
Slide 10: Quarterly Financial Highlights
Quarterly Financial Highlights Total Loans* Total Deposits ₱623 Billion ₱720 Billion +6% 623 QoQ 720 577 +8% QoQ 676 +₱44 B +₱45 B 179 29% 165 29% +9% +3% 378 53% Retail & 17 3% 367 54% 16 3% MSME Combined 397 68% +7% 427 68% 309 46% +11% 342 47% Jun. 30, 2024 Sep. 30, 2024 Jun. 30, 2024 Sep. 30, 20
Slide 11: Quarterly Financial Highlights
Quarterly Financial Highlights Service Charges Fees & Commissions Provisions for Credit & Impairment Losses ₱1.8 Billion 3.1 ₱1.8 Billion 2.2 1.8 1.8 1.8 1.8 1.8 1.5 1.5 1.0 Q3-2023 Q4-2023 Q1-2024 Q2-2024 Q3-2024 Q3-2023 Q4-2023 Q1-2024 Q2-2024 Q3-2024 Pre-Provision Operating Profit Net Income ₱5.8
Slide 12: Summary
Summary 1. Faster Revenue Growth for 9M24: +28% year-on-year (YoY); Positive Jaws vs. +24% Opex growth. 2. Drivers of growth: • Loans and CASA are growing twice the industry. • Fees and other income also growing at 18% YoY due to strong Third Quarter in terms of Securities Trading Gains. 3. Opportun
Slide 13: 9M-2024 Results Highlights
9M-2024 Results Highlights By: Sanjiv Vohra, President & CEO November 15, 2024