Security Bank net income drops 33 percent in 2013.
Global Banking News-February 4, 2014--Security Bank net income drops 33 percent in 2013
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Global Banking News - 04 February 2014
Security Bank Corp has reported a 33 percent decline in its net profit for 2013, owing to a fall in trading gains.
The Philippine lender posted net income of PHP5bn in 2013. In 2012, it had earned PHP7.5bn in net income.
Trading gains in the January to September 2013 period were PHP1.75bn, as compared to PHP4.11bn in 2012. Analysts said that this could be held responsible for the decline in net income.
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