The group’s banking, power, and real estate arms were the top contributors, with EastWest Bank hitting its highest net income to date.
Management’s view
"2024 was by far Filinvest’s strongest year. As we celebrate our 70th anniversary, this record performance anchors our growth plans and gives us confidence in our continued growth in the years ahead,” said FDC president and CEO Rhoda A. Huang.
“It is a testament to our ability to adapt to changes over the decades and take advantage of opportunities when they arise,” she added.
2024 financial highlights
• Banking (EastWest Bank): Net income hit a record P7.6 billion, up 25 percent, supported by 16 percent growth in consumer loans and 8 percent deposit growth.
• Power (FDC Utilities): Revenues surged 40 percent to P24.5 billion as all power units were fully contracted; net income up 26 percent to P4.3 billion.
• Real Estate (Filinvest Land, Filinvest Alabang): Net income rose 3 percent to P3.8 billion; mid-rise condo completions and improved mall occupancy drove growth.
• Hospitality (Filinvest Hospitality): Revenues grew 26 percent to P4.3 billion with higher occupancy and food & beverage income; net income reached P266 million.
• Sugar & Others: Segment revenue up 15 percent, contributing to FDC’s broad-based income surge.
