Aggressive: Frederick Dy’s Security Bank leaps 13% on GSIS’ P830 million, 3-month buying binge

The Government Service Insurance System (GSIS) and the Social Security System (SSS) are now level in their shareholdings in Security Bank (SECB) of bilyonaryo Frederick Dy.

GSIS reported buying a total of 9.742 million SECB shares at a price range of P78.50 to P90.50.

SECB has jumped 13 percent to P95.50 since GSIS started its acquisition spree on September 22.

The purchase shored up GSIS stake in SECB from 3.81 percent to five percent, at par with SSS’ holdings.

SECB’s profit soared 77 percent year on year to P8.6 billion in the first nine months this year.