The Philippine Star
November 13, 2025 | 12:00am
MANILA, Philippines — The investment holding firm of the Sy-led SM Group of Companies hiked its profit by six percent in the nine months to September, banking on the strength of its core businesses to defy the adverse impact of recent disasters.
Based on its financial report, SM Investments Corp. (SMIC) grew its net income to P64.4 billion, from P60.9 billion a year ago.
Revenue went up by four percent to P482.3 billion as SMIC relied on the resilience of flagship units to overcome weather disturbances that disrupted third quarter operations.
By segment, banking contributed the biggest share in profit at 50 percent. Property followed with 28 percent, retail chipped in 15 percent, while portfolio investments accounted for seven percent.
The country’s biggest lender BDO Unibank Inc. grew its profit by four percent to P63.1 billion, driven by the 14-percent rise in its gross customer loans to P3.5 trillion. Deposits surged by 10 percent, with current account to savings account ratio sitting at 67 percent.
Another banking unit, China Banking Corp., raised its net income by 10 percent to P20.2 billion, emulating BDO’s growth in both loan and deposits.
For SM Retail, the unit sustained a five-percent dip in profit to P12.2 billion, attributed to the shift in school opening that disrupted the spending pattern of consumers.
In spite of this, SM Retail is expected to pick up the slack in the fourth quarter, when spending is at its highest as Filipinos buy Christmas gifts and holiday food.
Property arm SM Prime Holdings Inc. recorded a 10-percent growth in profit to P37.2 billion, as it secured higher contributions from its mall and convention segments. Revenue went up by four percent to P103.4 billion, with malls accounting for 59 percent at P61 billion.
Hotels and convention centers clocked in the highest growth of nine percent, pitching P6 billion, gaining from the deluge of international meetings and expos. Revenues from residential projects fell by two percent to P32.6 billion, with offices growing flat at P4 billion.
SMIC president and CEO Frederic DyBuncio said the company has depended on the strength of flagship units to prop up financials in the third quarter, when the economy was battered by the impact of earthquakes and typhoons.
“While external factors may temper overall economic growth, we maintain an optimistic outlook as we move into the fourth quarter,” DyBuncio said.
