Filinvest Development Corporation (FDC) posted net income attributable to equity holders of the parent of Php10.8 billion for the first nine months of 2026, slightly lower than the Php11.5 billion generated in the same period last year. Consolidated net income was Php13.3 billion, led by Banking, Real Estate, and Power.
Total revenues and other income for the period rose 10 percent year-on-year to Php99.0 billion. Banking revenues grew 16 percent to Php51.4 billion, Power rose 8 percent to Php14.8 billion, and Hospitality edged up 2 percent to Php3.0 billion, while Real Estate was unchanged at Php23.6 billion.
“Our diversified businesses drove the overall financial performance despite the challenging macroeconomic environment. We will capitalize on this strength as we continue to build the businesses and sustain growth in the years ahead," said FDC President and CEO Rhoda A. Huang.
EastWest Bank’s solid underlying operations delivered standalone net income of Php5.0 billion for the first nine months of the year. Net interest income grew 22 percent to Php36.2 billion, and non-interest income rose 10 percent to Php5.8 billion. Revenue outpaced expenses, lifting pre-provision operating profit 24 percent to Php22.4 billion. Consumer lending remained the bank’s core segment, making up 85 percent of its loan portfolio.
FDC’s Real Estate business, comprising Filinvest Land, Inc. (FLI), Filinvest Alabang, Inc. (FAI), and Filinvest REIT Corp. (FILRT), generated revenues of Php23.6 billion, unchanged from the same period last year. Residential sales contributed Php15.4 billion, supported by steady sales of ready-for-occupancy units and higher completion across various projects. Mall and rental revenues were steady, with slight gains in occupancy and foot traffic.
FDC Utilities, Inc. (FDCUI), the group’s Power subsidiary, posted total revenues and other income of Php14.8 billion for the first nine months of 2026, up 8 percent year-on-year, driven by favorable WESM prices.
Hotel operations revenues rose 2 percent year-on-year to Php3.0 billion, aided by stronger Food and Beverage (F&B) contributions. FHC’s portfolio includes seven hotels with a combined 1,800 rooms and two 18-hole golf courses within Filinvest Mimosa Plus Leisure City in Clark, Pampanga. It operates four homegrown brands: Crimson, Quest, Timberland Highlands, and the upcoming design-focused Grafik.
As of end-September 2026, FDC’s total assets stood at Php937 billion and its debt-to-equity ratio at 0.59:1. This financial flexibility supports the company’s growth and positions it to pursue opportunities across its diversified portfolio. |