SM Investments posts 9% rise in nine-month profit to ₱70.2 billion
Banking contributed 48% of consolidated net income, while group revenues rose 5% to ₱508.6 billion.
SM Investments Corp. (SMIC) reported consolidated net income of ₱70.2 billion for January to September 2026, up 9% from ₱64.4 billion. Its banking operations were the largest contributor to earnings.
Group revenues reached ₱508.6 billion, a 5% increase from ₱482.3 billion. Banking, comprising BDO Unibank and China Banking Corp., generated 48% of net income, followed by property at 26%, retail at 15% and portfolio investments at 11%.
SMIC president and chief executive officer Frederic DyBuncio attributed support for retail and malls to resilient consumer demand. He also said portfolio investments produced stronger earnings.
SM Retail's net income rose 7% to ₱13.1 billion, while its consolidated revenues increased 5.4% to ₱335.3 billion. Mall revenues grew 10% to ₱63.7 billion, reflecting additional leasable space and higher occupancy.
BDO's loan portfolio expanded 16%, while China Banking Corp.'s net loans increased 19%. A turnaround at Atlas Consolidated Mining and Development Corp. led the portfolio investment contribution. Revenue growth at 2GO Group Inc. and Philippine Geothermal Production Company Inc. was 15% and 13%, respectively.
