Filinvest first-half profit slips to P7.36B

MANILA, Philippines — Filinvest Development Corp. (FDC) reported a slight decline in its first-half attributable profit as weaker earnings from its banking business offset gains from its property and hospitality segments.

On Thursday, the Gotianun-led conglomerate reported net income attributable to equity holders of the parent company reached P7.36 billion in the first six months of 2026, slightly below the P7.43 billion booked a year earlier.

READ: Banking boosts FDC bottom line by 24%

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Consolidated net income stood at P9 billion. Banking, real estate and power remained FDC’s main profit contributors during the period. Net income from real estate and hospitality surged by 53 percent and 35 percent, respectively. However, a 23 percent decline in banking profit, caused by higher loan loss provisions, offset these gains.

Despite the slight dip in attributable earnings, FDC’s total revenues and other income grew by 10 percent to P64.3 billion.

Banking revenues and other income climbed by 18 percent to P33.5 billion, while real estate rose by 13 percent to P15.5 billion.

Hospitality inched up by 1.5 percent to P2.2 billion, while power revenues declined by 5 percent to P9.1 billion.

“Filinvest Group’s diversified portfolio enabled us to generate healthy revenue growth and steady profit performance despite very challenging economic conditions,” FDC president and CEO Rhoda Huang said.

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Huang said the group expects steady performance in the coming months despite persistent macroeconomic challenges.

EastWest Bank booked a standalone net income of P3.4 billion as higher provisions for probable losses weighed on its top-line growth.

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Meanwhile, FDC’s real estate business, composed of Filinvest Land Inc., Filinvest Alabang Inc. and Filinvest REIT Corp., posted a 16-percent increase in revenues to P14.7 billion, driven by commercial lot and residential sales.

READ: Filinvest stands firm on P27.6-B capex for 2026

FDC Utilities Inc. generated P9.1 billion in total revenues and other income. The expiration of bilateral contracts and lower contracted demand weighed down its performance, but favorable Wholesale Electricity Spot Market prices partly offset this impact.

The property group contributed P2.9 billion, or 33 percent, of FDC’s net income. Power accounted for P2.6 billion, or 30 percent, while banking contributed P2.5 billion, or 29 percent. Sugar supplied the remaining P682 million, or 8 percent. /pai