Security Bank Corp. (philippines) · PSE:SECB
Security Bank Corp. (philippines) — Security Bank — H1 2024 Earnings Presentation
13 slides from Security Bank Corp. (philippines)'s earnings presentation, Aug 15, 2024
Slide 1: H1-2024 Results Highlights
H1-2024 Results Highlights By: Sanjiv Vohra, President & CEO August 15, 2024
Slide 2: Revenues and Net Income
Revenues and Net Income Revenues Net Income ₱25.7 Billion ₱5.4 Billion +24% 25.7 +11% 5.4 +₱5.0 B 4.9 +₱0.5 B 20.6 H1-2023 H1-2024 H1-2023 H1-2024 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 ₱21.7 Billion +38% 21.7 +5.9 B 15.7 H1-2023 H1-2024 Total Non-Interest Income Service Charges, Fees & Commissions ₱4.0 Billion ₱4.9 Billion 4.9 -18% +74% 4.9 4.0 -₱0.9 B +₱2.1 B 2.8 H1-2023 H1-2024 H1-2023 H1-2024 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* 58.4% ₱15.0 Billion 60.4% 58.4% +20% 15.0 +₱2.6 B YoY growth 12.4 +25% 5.2 Compensation and fringe benefits 4.2 +12% Taxes and licenses H1-2023 H1-2024 1.9 +18% Depreciation and amortization 1.7 1.6 +17% Occupancy cos
Slide 5: Total Loans, Investment Securities and Deposits
Total Loans, Investment Securities and Deposits Total Loans* Loans & Investment in Corp. Bonds ₱577 Billion +19% YoY 577 ₱642 Billion 485 +₱93 B +18% 642 544 YoY +37% 165 29% +₱98 B 65 123 26% Retail & MSME Combined 16 3% 60 9 2% 397 485 577 353 72% +14% 68% Jun. 30, 2023 Jun. 30, 2024 Jun. 30, 2023
Slide 6: Asset Quality
Asset Quality Gross NPL Ratio and NPL Reserve Cover Allowance over Total Loans 100% 2.72% 81% 81% 3.11% * 2.80% 2.72% 3.41% 3.31% 3.06% Jun. 30, 2023 Mar. 31, 2024 Jun. 30, 2024 Jun. 30, 2023 Mar. 31, 2024 Jun. 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 ₱3.3 Billion In Php millions Retail H1-2023 1,665 H1-2024 2,515 Wholesale (95) 530 Business Banking 59 244 Financial Markets 0 0 3.3 Others (40) 9 Total 1,589 3,298 1.6 Q1-2024 Q2-2024 In P
Slide 8: Balance Sheet and Key Financial Ratios
Balance Sheet and Key Financial Ratios Total Assets Loans & Investment Securities ₱948 Billion +19% ₱846 Billion 846 948 +20% +₱152 B 704 796 +₱140 B 61% 577 61% 485 28% 28% 220 268 12% 11% Jun. 30, 2023 Jun. 30, 2024 Jun. 30, 2023 Jun. 30, 2024 Total Liabilities CET 1 and Total CAR ROE and ROA ₱810
Slide 9: Quarterly Financial Highlights
Quarterly Financial Highlights Total Revenues Operating Expenses* ₱13.2 Billion 13.2 ₱7.4 Billion 11.8 12.5 7.2 7.6 7.4 10.8 10.6 6.3 6.5 Q2-2023 Q3-2023 Q4-2023 Q1-2024 Q2-2024 Q2-2023 Q3-2023 Q4-2023 Q1-2024 Q2-2024 Net Interest Income Net Interest Margin ₱10.9 Billion 10.7 10.9 5.18% 10.0 4.86% 5
Slide 10: Quarterly Financial Highlights
Quarterly Financial Highlights Total Loans* Total Deposits ₱577 Billion ₱676 Billion +6% +6% 577 638 QoQ 676 545 QoQ +₱38 B +₱32 B 153 28% 165 29% +8% 367 54% Retail & 16 3% 355 56% +4% 14 3% MSME Combined 379 69% +5% 397 68% 284 44% +9% 309 46% Mar. 31, 2024 Jun. 30, 2024 Mar. 31, 2024 Jun. 30, 202
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 1.5 1.5 1.5 1.0 1.0 Q2-2023 Q3-2023 Q4-2023 Q1-2024 Q2-2024 Q2-2023 Q3-2023 Q4-2023 Q1-2024 Q2-2024 Pre-Provision Operating Profit Net Income ₱5.8
Slide 12: Summary
Summary 1. Accelerated Loan growth of +19% year-on-year (YoY). 2. Strong deposit growth of +29% YoY. 3. Net Interest Income up +38% YoY. Pro-forma NIM up +11 basis points quarter-on-quarter. 4. Positive Jaws: +24% Revenue growth YoY vs. +20% Opex growth YoY. 5. ROE has improved. 6. Delivery on tech
Slide 13: H1-2024 Results Highlights
H1-2024 Results Highlights By: Sanjiv Vohra, President & CEO August 15, 2024