Filinvest Development Corp. (FDC) kept first-half profit broadly steady despite a sharp earnings hit from higher provisions at its banking arm, underscoring the value of diversification as the economy navigates persistent uncertainty.
Net income attributable to FDC equity holders reached P7.36 billion in the first six months of 2026, slightly below P7.43 billion a year earlier. Consolidated net income stood at P9 billion, while revenues and other income rose 10 percent to P64.3 billion.
The numbers tell a mixed but resilient story. Real Estate and Hospitality delivered strong earnings growth of 53 percent and 35 percent, respectively, helping cushion a 23 percent decline in Banking profit. EastWest Bank reported P3.4 billion in standalone net income as higher loan-loss provisions offset strong revenue growth.
Banking remained FDC’s biggest business, accounting for 52 percent of group revenues and other income. Net interest income rose 21 percent to P23.1 billion, while non-interest income increased 14 percent to P5.3 billion. Pre-provision operating profit jumped 30 percent to P14.4 billion, suggesting the underlying banking engine remained healthy despite a more cautious credit environment.
Real Estate provided another bright spot, with revenues rising 16 percent to P14.7 billion, driven by commercial lot and residential sales. Residential sales increased 23 percent, while Hospitality held revenues largely steady on higher room rates and stronger food and beverage contributions.
Power, meanwhile, remained a significant earnings contributor despite a 5 percent decline in revenues to P9.1 billion, as expiring bilateral contracts and weaker contracted demand weighed on performance.
FDC President and CEO Rhoda A. Huang said the group’s diversified portfolio enabled it to deliver “healthy revenue growth and steady profit performance” despite challenging conditions.
With P938 billion in assets and a debt-to-equity ratio of 0.66:1, FDC enters the second half with financial room to maneuver. The immediate challenge is keeping banking provisions under control while sustaining momentum in property and hospitality, where demand appears more supportive.
