The Zobel family holding company Ayala Corp. saw core profits surge 26 percent to P11.8 billion, led by contributions from banking, property, power and telecommunications, a statement on Tuesday showed.
Bank of the Philippine Islands reported a net income of P15.3 billion, up 26 percent, marking a new record quarterly profit for the bank.
Ayala Land booked an income spike of 39 percent to P6.3 billion, driven by healthy property demand.
Renewable power arm ACEN Corp.’s consolidated net income rose 34 percent to P2.7 billion due to a 49 percent increase in renewable energy output.
Globe’s core net income increased 13 percent to P5.8 billion, despite a 7 percent decline in overall net income to P6.8 billion.
“We are seeing growth momentum across most of our businesses. This speaks to the resilience of the economy and our ability to provide products and services that are valued by customers,”, Ayala President and CEO Cezar P. Consing said in the statement.
