Security Bank Corp. saw its loan portfolio jump 29 percent to P110.3 billion on back of increased lending for infrastructure, mining, energy and real estate development.
 
The bank received good returns in lending due to the “continued confidence” of domestic and international investors in these key sectors, bank president Alberto Villarosa said in a company disclosure to the Philippine Stock Exchange Thursday.
 
According to the disclosure, the bank’s asset base rose 11 percent month-on-month in June to P235 billion, while its deposit liabilities jumped 26 percent to P131 billion.
 
In its first semester, the bank maintained a “fundamentally strong capital base” with a capital adequacy ratio of 18.2 percent as of end-June.
 
The disclosure also cites financial officer Joselito Mape as saying that Security Bank  is now in its initial stage of expanding its network.

This year, the bank opened 10 new branches in once-restricted or “overbanked” areas where new branches had previously been prohibited by the central bank.
 
The Bangko Sentral ng Pilipinas last year eased the restriction to liberalize the banking sector. — BM/VS, GMA News