Philippines' Security Bank posts 29% loan growth

Expansion in various industries pushed Security Bank's loan portfolio up by 29 percent in the first half of 2012.

Infrastructure, mining, energy and real estate contributed the most.

There is also a growing long-term commitment by investors to key sectors in the country.

According to Security Bank president Alberto S. Villarosa, the core businesses delivered good returns due to the continued confidence of domestic and international investors in the Philippine economy.

The bank's asset base increased to P235 billion, an 11 percent increase from end of June 2011. Deposit liabilities increased by 26 percent to P131 billion across all categories.

The bank’s non-performing loans ratio of 1.1 percent for the period remains to be among the best in the industry. NPL cover, meanwhile, was at 219 percent at the end of the period.

It continues to maintain a fundamentally strong capital base with its capital adequacy ratio standing at 18.2 percent as of end June 2012.

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