Security Bank Net Income Up by 55% and Total Resources by 28%

Security Bank Corporation (PSE: SECB) reported third quarter results with a 55% year-on-year increase in net income to P 6.2 billion in the first nine months of the year and a return on equity (ROE) of 25%. These results were driven by a 28% growth in its loan portfolio, a 37% increase in its total deposits to P 138 billion, and a 28% expansion of its balance sheet to reach P 253 billion in total resources as of the nine month period ending September 30, 2012.  Security Bank President and Chief Executive Officer Alberto S. Villarosa notes that, “Our year-to-date performance reflects our clients