Security Bank’s (SEC) top executive went bottom fishing in the stock market as the bank’s stock tumbled to its lowest in nearly two years.
SEC president and CEO Sanjiv Vohra bought 300,000 shares at P94.20 each on May 20. SEC plunged to P89 a week earlier, its lowest since October 2020.
SEC profit has been declining over the last two years – down 26 percent to P7.432 billion in 2020 and down seven percent to P6.916 billion in 2021.
The 61-year old Indian national has been head of SEC since July 2019.
Samsung Electronics became the first chipmaker in the world to mass produce advanced 3-nanometre microchips, the company said Thursday, as it seeks to catch up with Taiwan’s TSMC.