August 15, 2025 | 12:00am
MANILA, Philippines — The revenue of Safety Financial institution Corp. rose by eight % to P5.9 billion within the first half on the again of double-digit income beneficial properties and strong mortgage progress.
In a disclosure to the native bourse, the financial institution mentioned whole revenues climbed by 23 % to P31.6 billion from January to June, supported by greater curiosity and non-interest revenue.
Web curiosity revenue elevated by 12 % to P24.3 billion, with internet curiosity margin regular at 4.56 %.
Non-interest revenue additionally surged by 81 % to P7.2 billion, boosted by buying and selling beneficial properties and repair charges.
Excluding a one-off bancassurance milestone price booked within the first quarter of 2024, service expenses, charges and commissions nonetheless rose by 23 % year-on-year to P4.3 billion.
In the meantime, working bills grew by 25 % because of greater spending on manpower and know-how to help transformation initiatives, bringing the cost-to-income ratio to 59.6 %. Pre-provision working revenue stood at P12.8 billion, up 20 % yr on yr.
The lender additionally put aside P5.1 billion in provisions for credit score losses, greater than P3.3 billion a yr in the past. Gross non-performing mortgage ratio was 3.16 %, with NPL protection at 79 %.
From April to June, Safety Financial institution earned P3 billion, up by eight % each year-on-year and quarter-on-quarter. Quarterly revenues rose by 5 % to P16.1 billion, whereas pre-provision working revenue hit P6.7 billion, 10 % greater than the earlier quarter.
As of end-June, whole deposits expanded by 32 % to P889 billion, with low-cost deposits up by 18 % and accounting for 49 % of the entire.
Web loans climbed by 16 % to P667 billion, led by a 32-percent bounce in retail loans amid sturdy progress in dwelling, auto, bank card and small enterprise lending.
Safety Financial institution maintained wholesome liquidity and capital buffers, with a liquidity protection ratio of 194 %, internet steady funding ratio of 140 %, widespread fairness tier 1 ratio of 12.3 % and whole capital adequacy ratio of 13.2 %.
“We delivered one other sturdy quarter with broad-based progress throughout retail, small companies and wholesale,” Safety Financial institution president and CEO Sanjiv Vohra mentioned, including that strategic investments in know-how and expertise are enhancing buyer expertise and positioning the financial institution for sustained progress.
Safety Financial institution lately opened branches in Paniqui, Concepcion and Capas, Tarlac, bringing the entire variety of branches to 356 branches so far. The financial institution additionally has 637 automated teller machines, money recycler machines and money acceptance machines.
