Security Bank Corp. (philippines) · PSE:SECB
Security Bank Corp. (philippines) — Security Bank — Q1 2024 Earnings Presentation
14 slides from Security Bank Corp. (philippines)'s earnings presentation, May 17, 2024
Slide 1: Q1-2024 Results Highlights
Q1-2024 Results Highlights By: Sanjiv Vohra, President & CEO May 17, 2024
Slide 2: Revenues and Net Income
Revenues and Net Income Revenues Net Income ₱12.5 Billion ₱2.6 Billion +27% +₱2.7 B 12.5 +11% 9.8 +₱0.3 B 2.6 2.4 Q1-2023 Q1-2024 Q1-2023 Q1-2024 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 ₱10.7 Billion +44% 10.7 +3.3 B 7.5 Q1-2023 Q1-2024 Total Non-Interest Income Service Charges, Fees & Commissions ₱1.8 Billion ₱3.1 Billion -25% +136% +₱1.8 B 3.1 -₱0.6 B 2.3 1.8 1.3 Q1-2023 Q1-2024 Q1-2023 Q1-2024 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* 60.7% ₱7.6 Billion 62.6% 60.7% +24% 7.6 +₱1.5 B YoY growth 6.1 +26% Compensation and fringe benefits 2.6 2.1 +17% Taxes and licenses Q1-2023 Q1-2024 1.0 +18% Manpower Headcount** Depreciation and amortization 0.9 0.8
Slide 5: Total Loans, Investment Securities and Deposits
Total Loans, Investment Securities and Deposits Total Loans* Loans & Investment in Corp. Bonds ₱545 Billion +12% YoY 545 ₱604 Billion +10% 489 604 +₱57 B 548 YoY 126 26% +32% 166 31% ** +₱57 B 59 59 363 74% +4% 379 69% 489 545 Mar. 31, 2023 Mar. 31, 2024 Mar. 31, 2023 Mar. 31, 2024 *Loans (net of al
Slide 6: Asset Quality
Asset Quality Gross NPL Ratio and NPL Reserve Cover Allowance over Total Loans 99% 2.80% 82% 81% 3.19% * 2.80% 2.80% 3.37% 3.41% 3.12% Mar. 31, 2023 Dec. 31, 2023 Mar. 31, 2024 Mar. 31, 2023 Dec. 31, 2023 Mar. 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 ₱1.5 Billion In Php millions Retail Q1-2023 937 Q1-2024 1,317 Wholesale (388) 184 2.2 Business Banking 124 (65) Financial Markets 1 0 1.5 Others (68) 91 Total 606 1,527 In Php millions Q4-2
Slide 8: Balance Sheet and Key Financial Ratios
Balance Sheet and Key Financial Ratios Total Assets Loans & Investment Securities ₱887 Billion +12% ₱789 Billion 887 +15% 789 794 +₱93 B 686 +₱103 B 61% 545 62% 489 25% 27% 197 243 14% 11% Mar. 31, 2023 Mar. 31, 2024 Mar. 31, 2023 Mar. 31, 2024 Total Liabilities CET 1 and Total CAR ROE and ROA ₱751
Slide 9: Quarterly Financial Highlights
Quarterly Financial Highlights Net Interest Income Net Interest Margin ₱10.7 Billion 10.7 5.32% 5.20% 5.32% 10.0 9.0 4.58% 4.86% 8.3 4.06% 7.5 Q1-2023 Q2-2023 Q3-2023 Q4-2023 Q1-2024 Q1-2023 Q2-2023 Q3-2023 Q4-2023 Q1-2024 Total Revenues Operating Expenses* ₱12.5 Billion 12.5 ₱7.6 Billion 7.2 7.6 11
Slide 10: Quarterly Financial Highlights
Quarterly Financial Highlights Total Loans* Total Deposits ₱545 Billion ₱638 Billion +5% +1% 607 QoQ 638 538 QoQ 545 +₱32 B +₱7 B 157 29% +6% 166 31% 355 56% ** 364 60% -2% 381 71% -1% 379 69% 243 40% +17% 284 44% Dec. 31, 2023 Mar. 31, 2024 Dec. 31, 2023 Mar. 31, 2024 *Loans (net of allowance); Who
Slide 11: Quarterly Financial Highlights
Quarterly Financial Highlights Service Charges Fees & Commissions Provisions for Credit & Impairment Losses ₱3.1 Billion 3.1 ₱1.5 Billion 2.2 1.8 1.5 1.3 1.5 1.5 1.0 1.0 0.6 Q1-2023 Q2-2023 Q3-2023 Q4-2023 Q1-2024 Q1-2023 Q2-2023 Q3-2023 Q4-2023 Q1-2024 Pre-Provision Operating Profit Net Income ₱4.9
Slide 12: Sustainability
Sustainability 1. Board approval of Sustainable Finance framework 2. Engagement with climate experts and organizations like IFC on SF portfolio 3. Partnership with Helios for cost-effective renewable energy for homeowners 4. Second Integrated Report covering FY2023 published 5. 100% renewable energy
Slide 13: Summary
Summary 1. What we said last Quarter (4Q23) • Build on the loan growth momentum Acceleration in Retail & MSME Loans (+32% YoY) Total Loan Growth picked up pace to +12% YoY • Credit Cost down • New Retail Banking Online Platform: Ahead of Timeline 2. USD Bond Issuance 3. Other Key Drivers in 1Q24 • S
Slide 14: Q1-2024 Results Highlights
Q1-2024 Results Highlights By: Sanjiv Vohra, President & CEO May 17, 2024