, Philippines

Security Bank's net earnings plunge 66% to PHP1.7b in 1H13

Blame it on trading losses.

Due to weak 2Q13 results, Maybank Kim Eng cut its earnings forecast on SECB 32% to PHP4.6b in 2013 and 28% to PHP5.4b in 2014. 

Here's more from Maybank Kim Eng:

Net earnings plunged 66% YoY to PHP1.7b in 1H13, implying 88% decline to PHP483m in 2Q13. This was due to trading losses and margin compression as well as high operating costs.

With interest rates likely to be less stable moving forward, we cut our trading gains forecast by 51% and 42% to PHP1b each in 2013 and 2014. 

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

What is Lorem Ipsum?
What is Lorem Ipsum? Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

Exclusives

Sed molestie interdum dui sit amet egestas
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout.
CIMB Niaga leads the way in captivating Indonesia’s youth
The bank’s digital solutions are winning over younger generations with 3.2M mobile users and 96% digital transaction rate in 2023.