Security Bank Net Income Surges 65% in 2006

Security Bank Corporation (PSE: SECB) posted an unaudited net income of P 1.9 billion for the full year of 2006, 65% more than the P 1.16 billion earnings registered the previous year. With its third consecutive year of greater than 50% growth in net income, the bank boosted its return on equity to 17.3% substantially higher than the 13.4% recorded in 2005. Consequently, full year unaudited earnings per share greatly improved to P 5.77 versus the prior year