Security Bank maintains high ROE at 20%

Security Bank Corporation (PSE: SECB) earned PhP 4.0 billion up 21% versus year ago levels maintaining its high return on equity (ROE) of 20%. The earnings improvement was underpinned by continued strength of core revenues with Net Interest Margin increasing 21% to PhP 5.5 billion on the back of customer loans growing 23% to PhP 84.5 billion.   The healthy net margins were supplemented by Service Charges and FX Income growing by 17%. These more than compensated for lower trading gains, resulting to total revenues of PhP 7.7 billion, 6.2% higher than the figures from the same period last year.   The bank