Security Bank Corp. (philippines) · PSE:SECB
Security Bank Corp. (philippines) — Security Bank — Q1 2022 Earnings Presentation
16 slides from Security Bank Corp. (philippines)'s earnings presentation, May 18, 2022
Slide 1: Q1-2022 Results Highlights
Q1-2022 Results Highlights By: Sanjiv Vohra, President and CEO May 18, 2022
Slide 2: Total Revenues and Net Income
Total Revenues and Net Income Total Revenues Total Revenues (excluding Trading Gains) ₱9.3 Billion ₱9.3 Billion +6% 9.3 8.8 9.3 +15% +₱0.5 B 8.1 +₱1.2 B Q1-2021 Q1-2022 Q1-2021 Q1-2022 Profit Before Tax Net Income ₱3.7 Billion ₱2.7 Billion +12% +66% 3.3 +0.4 B 3.7 +₱1.1 B 2.7 1.6 Q1-2021 Q1-2022 Q1-
Slide 3: Net Interest Income and Net Interest Margin
Net Interest Income and Net Interest Margin Net Interest Income Net Interest Margin ₱7.0 Billion 4.19% +5% -2 bps +₱0.3 B 4.22% 4.19% 6.6 7.0 Q1-2021 Q1-2022 Q1-2021 Q1-2022 3 Note: Numbers may not sum up due to rounding
Slide 4: Non-Interest Income
Non-Interest Income Total Non-Interest Income ₱2.3 Billion +8% 2.1 2.3 +₱0.2 B 1.1 1.3 0.7 1.0 0.4 (0.0) Q1-2021 Q1-2022 Service Charges, Fees & Commissions Non-Interest Income - Others ₱1.3 Billion ₱1.0 Billion +22% 1.3 +168% 1.1 +₱0.2 B +₱0.6 B 1.0 0.4 Q1-2021 Q1-2022 Q1-2021 Q1-2022 4 Note: Numbe
Slide 5: Cost-to-Income Ratio and Operating Expense
Cost-to-Income Ratio and Operating Expense Cost-to-Income Ratio Operating Expense* 59.0% ₱5.5 Billion 57.6% 59.0% +8% 5.5 5.1 +₱0.4 B YoY growth +8% 1.9 Compensation and fringe benefits 1.7 -24% 0.8 Taxes and licenses Q1-2021 Q1-2022 -1% 1.0 0.6 Depreciation and amortization Manpower Headcount QoQ:
Slide 6: Total Loans and Total Deposits
Total Loans and Total Deposits Total Loans* Total Deposits ₱465 Billion ₱530 Billion +2% +8% 519 YoY 530 430 YoY 465 +₱34 B +₱12 B 107 23% 107 26% 272 52% 326 61% +20% 324 74% +11% 358 77% 247 48% -17% 205 39% Mar. 31, 2021 Mar. 31, 2022 Mar. 31, 2021 Mar. 31, 2022 *Loans (net of allowance); Gross L
Slide 7: Asset Quality
Asset Quality Gross NPL Ratio and NPL Reserve Cover Allowance over Total Loans 120% 3.49% 93% 90% 4.30% 3.90% 3.49% 3.94% 3.40% 3.65% Mar. 31, 2021 Dec. 31, 2021 Mar. 31, 2022 Mar. 31, 2021 Dec. 31, 2021 Mar. 31, 2022 7
Slide 8: Provisions for Credit Losses
Provisions for Credit Losses Provisions for Credit Losses Provisions per Segment ₱0.08 Billion In Php millions Q1-2021 Q1-2022 Retail 705 300 -80% Wholesale 205 (457) 0.40 -₱0.32 B Financial Markets (3) 0 Others (505) 237 Total 402 80 0.08 Q1-2021 Q1-2022 8
Slide 9: Balance Sheet and Key Financial Ratios
Balance Sheet and Key Financial Ratios Total Assets Total Liabilities ₱707 Billion ₱585 Billion 718 707 596 585 60% 46% 66% 56% 20% 41% 21% 35% 20% 13% 2% 8% 1% 4% 5% 4% Mar. 31, 2021 Mar. 31, 2022 Mar. 31, 2021 Mar. 31, 2022 Liquidity Ratios CET 1 and Total CAR Liquidity Coverage Ratio (LCR) 132% 1
Slide 10: Quarterly Financial Highlights
Quarterly Financial Highlights Net Interest Income Net Interest Margin ₱7.0 Billion 4.19% 6.6 6.9 6.9 7.0 7.0 4.22% 4.29% 4.32% 4.37% 4.19% Q1-2021 Q2-2021 Q3-2021 Q4-2021 Q1-2022 Q1-2021 Q2-2021 Q3-2021 Q4-2021 Q1-2022 Low-Cost Deposits ₱326 Billion +5% +5% +6% +3% 300 317 326 272 286 Q1-2021 Q2-20
Slide 11: Quarterly Financial Highlights
Quarterly Financial Highlights Total Loans* Total Deposits ₱465 Billion ₱530 Billion +1% 524 QoQ 530 +4% 449 QoQ 465 +₱1.6 B +₱16 B 104 23% +2% 107 23% 317 61% +3% 326 61% 344 77% +4% 358 77% -1% 206 39% 205 39% Dec. 31, 2021 Mar. 31, 2022 Dec. 31, 2021 Mar. 31, 2022 *Loans (net of allowance); Gross
Slide 12: Quarterly Financial Highlights
Quarterly Financial Highlights Operating Expenses Provisions ₱5.5 Billion ₱0.1 Billion 5.1 5.3 5.4 5.5 5.5 2.0 1.6 1.2 0.4 0.1 Q1-2021 Q2-2021 Q3-2021 Q4-2021 Q1-2022 Q1-2021 Q2-2021 Q3-2021 Q4-2021 Q1-2022 Pre-Provision Operating Profit Net Income ₱3.8 Billion 4.3 ₱2.7 Billion 3.7 3.7 3.8 3.8 2.7 2
Slide 13: Summary
Summary 1. Loans Up +4% QoQ due to Increase in Wholesale (+4% QoQ) and Retail (+2% QoQ). 2. NIM: Slightly Down due to Change in Asset Mix. 3. Other Income: Higher Foreign Exchange Gains and Income from Recovery on Charged-off Assets. 4. Deposits continue to grow. Low-Cost Deposit growth is still hig
Slide 14: 2022 Themes
2022 Themes 1. Our Vision: To become the most customer-centric bank The Philippines’ Best Bank in the Philippines 2. Grow earning asset base: Best Bank for loans and investment High Net Worth Clients Best Retail Bank in the Philippines securities in the Philippines 3. Invest in strategic enablers: M
Slide 15: Proposition
Key Initiatives Achieved in 2020-2021 Key Initiatives in 2022 onwards Launched in Jan 2021 a New Transition to a New HR Operating Model HRIS Tool Capability Future of Work Framework New Platforms Awards Received in 2021 Employee Value Introduced in 2021 Leadership Proposition Technical 15
Slide 16: Q1-2022 Results Highlights
Q1-2022 Results Highlights By: Sanjiv Vohra, President and CEO May 18, 2022