BDO Unibank expects the challenging business environment of 2025 to carry over into 2026, as uncertainty makes investors cautious.
BDO president and CEO Nestor Tan said 2025 proved a “rollercoaster year” marked by strong early growth that was later slowed by geopolitical risks, supply chain disruptions, and other unexpected events. He said businesses are hesitant to invest not due to lack of interest, but precisely because of uncertainty.
Nevertheless, Tan highlighted areas of opportunity, including faster growth outside Metro Manila, as well as ongoing investment in infrastructure and energy.
Meanwhile, SM Investments Corp. (SMIC) vice chairman Teresita Sy-Coson expressed optimism, saying 2026 “will not be so bad” if companies focus on their plans despite the political noise.
SMIC reported a consolidated net income of ₱64.4 billion from January to September, up 6 percent from ₱60.9 billion a year earlier. Consolidated revenues rose 4 percent to ₱482.3 billion. Banking contributed the largest portion of net income at 50 percent, followed by property (28 percent), retail (15 percent), and portfolio investments (7 percent).
