Security Bank profit falls 18% to P4.3B in H1

Security Bank said lower trading gains and increased provision for income tax pulled down its earnings for the first six months of this year to P4.3 billion, down 18 percent or P951 million than the year-earlier level.

In a filing on Tuesday, the bank said this was due mainly to the decrease in trading gains by 59 percent or P655 million, and the increase in provision for income tax by 55 percent or P424 million.