Security Bank Corporation (PSE:SECB) September 2008 year-to-date results continue to reflect a solid return on equity of 19.3%. Amidst the turbulence in the global financial markets, Security Bank sustained exemplary shareholder value with its September year-to-date results registering a net income of PhP 1.72 billion, 6% lower than the comparative period last year.
Security Bank Corporation President and Chief Executive Officer, Mr. Alberto S. Villarosa remarked on the third quarter 2008 results: “This has certainly been a very challenging period for businesses across the board. We are nevertheless pleased that the efforts we exerted in building core revenues and other income streams have helped in softening the adverse impact on securities markets brought about the global financial turmoil that began in the US and Europe.”
Mr. Carlos M. Borromeo, Security Bank Corporation Chief Financial Officer, discussed the bank