Security Bank Corp. (philippines) · PSE:SECB
Security Bank Corp. (philippines) — Security Bank — FY2023 Earnings Presentation
13 slides from Security Bank Corp. (philippines)'s earnings presentation, Mar 4, 2024
Slide 1: FY 2023 Results Highlights
FY 2023 Results Highlights By: Sanjiv Vohra, President & CEO March 4, 2023
Slide 2: Revenues and Net Income
Revenues and Net Income Revenues Net Income ₱43.0 Billion ₱9.1 Billion +8% 43.0 -14% 39.6 10.6 +₱3.3 B -₱1.5 B 9.1 FY 2022 FY 2023 FY 2022 FY 2023 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 ₱34.7 Billion +19% 34.7 29.2 +₱5.5 B FY 2022 FY 2023 Total Non-Interest Income Service Charges, Fees & Commissions ₱8.2 Billion10.4 -21% ₱6.1 Billion +15% 6.1 8.2 5.3 -₱2.2 B +₱0.8 B 5.3 6.1 5.1 0.3 1.9 (0.0) FY 2022 FY 2023 FY 2022 FY
Slide 4: Cost-to-Income Ratio and Operating Expense
Cost-to-Income Ratio and Operating Expense Cost-to-Income Ratio Operating Expense* 60.8% ₱26.1 Billion 57.8% 60.8% +14% 26.1 YoY growth 22.9 +₱3.2 B +18% Compensation and fringe benefits 8.9 7.5 +4% Taxes and licenses 3.2 +6% FY 2022 FY 2023 Depreciation and amortization 3.1 2.7 2.8 0.4 +5% Occupanc
Slide 5: Total Loans, Investment Securities and Deposits
Total Loans, Investment Securities and Deposits Total Loans* Loans & Investment in Corp. Bonds ₱538 Billion +7% ₱598 Billion 503 YoY 538 +6% +₱36 B 564 YoY 598 157 29% +₱34 B 121 24% +29% ** 61 60 381 76% 381 71% 503 538 Dec. 31, 2022 Dec. 31, 2023 Dec. 31, 2022 Dec. 31, 2023 *Loans (net of allowanc
Slide 6: Asset Quality
Asset Quality Gross NPL Ratio and NPL Reserve Cover Allowance over Total Loans 101% 2.80% 92% 82% 3.17% 2.95% 2.80% 3.15% 3.36% 2.95% Dec. 31, 2022 Sep. 30, 2023 Dec. 31, 2023 Dec. 31, 2022 Sep. 30, 2023 Dec. 31, 2023 6
Slide 7: Provisions for Credit and Impairment Losses
Provisions for Credit and Impairment Losses Provisions for Credit and Impairment Losses Provisions per Segment ₱4.8 Billion In Php millions Retail FY 2022 1,281 FY 2023 4,970 4.8 Wholesale 673 107 +69% Business Banking (8) 571 +₱2.0 B Financial Markets 1 (2) 2.8 Others 894 (845) Total 2,841 4,801 In
Slide 8: Balance Sheet and Key Financial Ratios
Balance Sheet and Key Financial Ratios Total Assets Loans & Investment Securities ₱872 Billion +3% ₱765 Billion 872 +11% 765 842 +₱29 B 692 +₱73 B 60% 62% 538 503 23% 26% 190 227 18% 12% Dec. 31, 2022 Dec. 31, 2023 Dec. 31, 2022 Dec. 31, 2023 Total Liabilities CET 1 and Total CAR ROE and ROA ₱735 Bi
Slide 9: Quarterly Financial Highlights
Quarterly Financial Highlights Net Interest Income Net Interest Margin ₱10.0 Billion 10.0 5.20% 5.20% 9.0 4.58% 4.86% 8.3 7.2 7.5 3.92% 4.06% Q4-2022 Q1-2023 Q2-2023 Q3-2023 Q4-2023 Q4-2022 Q1-2023 Q2-2023 Q3-2023 Q4-2023 Total Revenues Operating Expenses* ₱11.8 Billion 11.8 ₱7.2 Billion 7.2 10.2 10
Slide 10: Quarterly Financial Highlights
Quarterly Financial Highlights Total Loans* Total Deposits ₱538 Billion ₱607 Billion +8% QoQ 607 +7% 538 562 502 QoQ +₱45 B +₱36 B 157 29% 142 29% +11% 364 60% ** 340 61% +7% 361 71% +7% 381 71% 221 39% +10% 243 40% Sep. 30, 2023 Dec. 31, 2023 Sep. 30, 2023 Dec. 31, 2023 *Loans (net of allowance); W
Slide 11: Quarterly Financial Highlights
Quarterly Financial Highlights Service Charges Fees & Commissions Provisions for Credit & Impairment Losses ₱1.8 Billion 1.8 ₱2.2 Billion 1.5 1.5 2.2 1.4 1.3 1.2 1.0 1.0 0.6 Q4-2022 Q1-2023 Q2-2023 Q3-2023 Q4-2023 Q4-2022 Q1-2023 Q2-2023 Q3-2023 Q4-2023 Pre-Provision Operating Profit Net Income ₱4.6
Slide 12: 2024 Expectations
2024 Expectations 1. 1Q’24: Credit Cost - Trailing impact from Credit Cards 2. Loans: Emphasis on Retail & MSME; Opportunistic on Wholesale 3. 2H’24: Launch of new Retail Online Banking platform 4. Investments in people, platforms & systems continue: Translate into profitability uplift in 2H’24 12
Slide 13: FY 2023 Results Highlights
FY 2023 Results Highlights By: Sanjiv Vohra, President & CEO March 4, 2023