Security Bank net income surges to P11.2B in 2024
The façade of Security Bank’s head office in Ayala Avenue features an installation titled Perfect Harmony—a modernized yin and yang depiction of synergy and collaboration.
MANILA, Philippines — Security Bank Corp. is expecting to continue its growth momentum this year after posting record earnings in 2024, with its revenues also surging to an all-time high.
In a regulatory filing on Monday, the bank led by tycoon Frederick Dy said its bottom line expanded by 23 percent to P11.2 billion.
Total revenues likewise swelled by 29 percent to P54.9 billion.
READ: Security Bank counts on MSMEs, retail borrowers in 2025
According to Security Bank, net loans jumped by 26 percent to P678 billion, driven by lending to micro, small and medium enterprises and retail customers. Combined, these segments posted a 37-percent growth.
Wholesale loans also rose by 21 percent.
Return on equity was at 8.11 percent as of end-December, up from 6.95 percent the previous year.
