PNB Holdings' 9-month profit rises 16% to P317 million

Insider Spotlight

• PNB Holdings Corporation posted a 16-percent increase in nine-month net income to P317.02 million, supported by growth in its commercial property business
• Consolidated revenues rose five percent to P940.35 million, while net income margin improved to 34 percent
• The company is preparing to redevelop portions of PNB Financial Center as part of its strategy to diversify revenue sources and maximize property value
  
  
  
  

PNB Holdings Corp. reported a 16-percent increase in consolidated net income to P317.02 million for the first nine months of 2026, alongside higher revenues and improved profitability as the company diversified its commercial property offerings.

Consolidated revenues rose 5 percent to P940.35 million from the same period last year. The company has been introducing new dining, retail, and wellness concepts to increase the income-generating potential of its properties.

Stronger profitability

Gross profit increased 5 percent to P472.85 million, maintaining a 50 percent margin.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose three percent to P508.19 million, with a margin of 54 percent.

The company's net income margin improved to 34 percent from 30 percent a year earlier, reflecting stronger profitability relative to revenue.

PNB Holdings has been diversifying the commercial offerings at PNB Makati Center through new dining, retail, and wellness concepts aimed at attracting customers beyond its traditional office tenants.

The company also expanded its flexible workspace business following encouraging demand. Its coworking facility, which opened in 2024, added approximately 2,400 square meters in December 2025.

"Makati presented a good opportunity for us to explore this direction. Its strong dining, convenience retail, and lifestyle markets allow us to attract distinctive tenants and operators that complement the office environment while bringing more people into the property throughout the day," PNB Holdings chief financial officer Ponciano C. Carreon said in a press statement.

Ponciano C. Carreon

Chief financial officer, PNB Holdings

Redevelopment of properties

PNB Holdings is preparing to modernize and repurpose selected portions of its 10-hectare PNB Financial Center property to accommodate additional commercial uses.

The redevelopment will involve adaptive reuse of the existing complex, designed by National Artist for Architecture Gabriel Formoso, while preserving its architectural identity. The project's final scope, design, and implementation plans remain under development.

"We have to recognize that the way companies use office space has changed, and we don't expect the market to simply go back to the way it was before. That gives us an opportunity to look at Financial Center differently and consider what other uses will make sense for the property over the long term," Carreon said.

PNB Holdings also owns and manages commercial properties in Makati and Pasay, including office, retail, and event spaces. —Vanessa Hidalgo | Ed: Corrie S. Narisma