SM Investments nets P70.2B in Jan.-Sept. 2026

Sy-led SM Investments Corp. (SMIC) posted 9% growth in its consolidated net income for the first nine months of the year, with its banking unit contributing nearly half amid a double-digit growth in its loan portfolio.

Net income for the January to September period grew to P70.2 billion from P64.4 billion, with banking—which includes BDO Unibank and China Banking Corp.—accounting for 48%. The property unit followed with 26%, retail with 15%, and portfolio investments with 11%.

Consolidated revenues for the period increased 5% to P508.6 billion from P482.3 billion.

"Ongoing resilient consumer demand supported retail and malls, while portfolio investments delivered stronger earnings," SMIC president and chief executive officer Frederic DyBuncio said in an emailed statement.

SM Retail reported 7% growth in its net income to P13.1 billion, as consolidated revenues climbed 5.4% to P335.3 billion. The mall business saw a 10% increase in revenues to P63.7 billion on more leasable space and higher occupancy.

BDO posted a 16% growth in its loan portfolio, while China Banking Corp. reported a 19% increase in net loans.

Portfolio investments accounted for 11% of consolidated net income, led by a turnaround in Atlas Consolidated Mining and Development Corp., while 2GO Group Inc. and Philippine Geothermal Production Company Inc. recorded revenue growth of 15% and 13% respectively.

Shares in SMIC were last traded at P569.00 apiece, down by 9.00 or 1.56% from Tuesday's finish of P578.00. — VDV, GMA News