Security Bank H1 2025 total revenues grew 23% year-on-year to P31.6 billion and net profit up 8% to P5.9 billion

​Security Bank Corporation (PSE: SECB) total revenues in H1 2025 grew 23% year-on-year to P31.6 billion. Net profit increased 8% year-on-year to P5.9 billion.

H1-2025 net interest income increased 12% over the year to P24.3 billion. Net interest margin for H1 2025 was 4.56%. H1-2025 total non-interest income was P7.2 billion, up 81%. Service charges, fees and commissions was P4.3 billion in H1-2025, lower than previous year due to the one-off bancassurance milestone fee in Q1-2024. Excluding the milestone fee, H1-2025 service charges, fees and commissions increased 23% year-on-year.

H1-2025 operating expense was 25% higher, driven by investments in manpower and technology to accelerate transformation and drive growth. Cost-to-income ratio was 59.6%.

H1-2025 pre-provision operating profit was up 20% year-on-year to P12.8 billion. The Bank set aside P5.1 billion as provisions for credit losses in H1-2025, an increase versus year-ago level of P3.3 billion. Gross non-performing loan ratio was 3.16% and NPL reserve cover was 79%.

Return on shareholders’ equity was 8.11%. Return on assets was 1.03%.

Quarterly Results: For the period April 1 to June 30, 2025 (Q2-2025), net profit was P3.0 billion, up 8% year-on-year and up 8% quarter-on-quarter. Q2-2025 total revenues increased to P16.1 billion, up 23% year-on-year and up 5% quarter-on-quarter.

Q2-2025 net interest income increased to P12.4 billion, up 14% year-on-year and up 5% quarter-on quarter. Net interest margin in Q2-2025 was 4.67%, up 16 basis points quarter-on-quarter. Total non interest income was P3.7 billion, up 65% year-on-year and up 5% quarter-on-quarter. Service charges, fees and commissions was P2.1 billion, up 19% year-on-year. In Q2-2025, the Bank set aside P2.7 billion as provisions for credit losses.

Q2-2025 pre-provision operating profit was P6.7 billion, 10% higher than quarter-ago level and 16% higher than year-ago level due to higher revenue growth of 5% quarter-on-quarter compared to operating expense which increased by 1% quarter-on-quarter.

Balance sheet remains strong

Total deposits increased to P889 billion, up 32% year-on-year. CASA deposits increased 18% year-on year. CASA as percent of total deposits was at 49%.

Net loans increased to P667 billion, up 16% year-on-year and up 3% quarter-on-quarter. Retail and MSME loans increased 32% year-on-year while Wholesale loans increased 7% year-on-year. The growth in Retail and MSME loans was driven by home loans which grew 17%, credit cards which rose 43%, auto loans which grew 54%, and MSME loans which increased 46%. On a sequential quarter-on-quarter basis, Retail and MSME loans combined increased 5% while Wholesale loans increased 2%. Retail and MSME loans as percent of total loans was at 36%, up from 32% a year ago. Total investment securities increased to P371 billion, up 38% year-on-year and up 11% quarter-on-quarter.

The Bank maintains healthy liquidity, with Liquidity Coverage Ratio (LCR) at 194% and Net Stable Funding Ratio (NSFR) at 140% as of June 30, 2025.

Security Bank’s capital ratios remain healthy, with Common Equity Tier 1 Ratio at 12.3% and Total Capital Adequacy Ratio (CAR) at 13.2%. Shareholders’ capital increased to P147.7 billion, up 7% year-on-year and up 3% quarter-on-quarter. Total assets increased to P1.15 trillion, up 22% year-on-year and up 4% quarter-on-quarter.

“We delivered another strong quarter with broad-based growth across retail, MSME, and wholesale. Revenues rose 5% quarter-on-quarter against just a 1% rise in expenses, underscoring the stronger efficiency and profitability we are building. Strategic investments in tech and talent are elevating customer experience, strengthening security, and positioning us for sustained, profitable growth.” -- Security Bank President & CEO, Sanjiv Vohra.

Security Bank is a private domestic universal bank in the Philippines with total assets of P1.15 trillion as of June 30, 2025. The Bank has been operating for 74 years since it was established in 1951. To-date, Security Bank has a total of 358 branches and 637 ATMs, Cash Recycler Machines (CRMs) and Cash Acceptance Machines (CAMs).

In 2025, Security Bank was awarded Best for High-Net-Worth in the Philippines by Euromoney/Asiamoney for five consecutive years; Best Investor Relations Company (Philippines), Sustainable Asia Award, Asia’s Best CEO (Investor Relations), Asia’s Best CFO (Investor Relations) and Best Investor Relations Professional (Philippines) for five consecutive years, as well as Best Corporate Communications by Corporate Governance Asia; Best Commercial Bank for SMEs (Domestic) by FinanceAsia; SME Bank of the Year – Philippines, Credit Card Initiative of the Year – Philippines, Mobile Banking & Payment Initiative of the Year – Philippines, External Environmental Initiative of the Year – Philippines, Consumer Finance Product of the Year – Philippines, Philippines Domestic Cash Management Bank of the Year, and Philippines Domestic Trade Finance Bank of the Year by Asian Banking & Finance.

In 2024, Security Bank was awarded Best for High-Net-Worth in the Philippines by Euromoney/Asiamoney; The Philippines' Best Bank for Corporates by Euromoney/Asiamoney for two consecutive years; Best Branch Digitisation Implementation for the Mosaic Voyager (MV) Tellering and Lobby Management System by The Asian Banker; three awards Credit Card Initiative of the Year, Sustainability Initiative of the Year, and ESG Program of the Year (Bronze) for Security Bank Wave Mastercard by Asian Banking and Finance; and Best Investor Relations Company (Philippines), Sustainable Asia Award, Asia’s Best CEO (Investor Relations), Asia’s Best CFO (Investor Relations) and Best Investor Relations Professional (Philippines) by Corporate Governance Asia; and 3 Golden Arrow Recognition for corporate governance excellence by the Institute of Corporate Directors (ICD).

In 2023 and 2022, Security Bank was awarded Best for Mass Affluence/HNW in the Philippines by Asiamoney; Best Retail Bank in the Philippines by Alpha Southeast Asia for four consecutive years; Best Credit Card Product in the Philippines (for Security Bank’s Complete Cashback Platinum Mastercard) by The Asian Banker during the 2022 Asian Banker Excellence Awards; Market Leader in Corporate Social Responsibility (CSR) by Euromoney; Market Leader in Diversity & Inclusion by Euromoney; Best Bank for Diversity and Inclusion by Asiamoney. The Bank’s major citations in 2021 are: Philippines’ Best Bank by Euromoney; Best for HNWs (High Net Worth Clients) in the Philippines by Asiamoney; Best Retail Bank in the Philippines by Alpha Southeast Asia; and Best Culture of Learning and Diversity Champion by LinkedIn Talent Awards.