Consolidated net income rose by 27 percent to P3.7 billion, driven by strong contributions from the banking, power, and property sectors.
“We are pleased with the strong financial results during the first quarter. We will push to maintain the momentum as we strive towards the fulfillment of our long-term goal of sustained growth in earnings,” FDC president and CEO, Ms. Rhoda A. Huang said in a stock exchange filing on Wednesday.
Total revenues and other income also climbed by 28 percent to P26.4 billion, outpacing the 25 percent increase in costs and expenses, which totaled P21.6 billion.
The banking and financial services segment, through East West Bank, accounted for 36 percent of FDC’s net income, contributing P1.2 billion. This was followed by power, with P1.0 billion or 29 percent, and the property business with P741 million or 21 percent.
