Corporate

The Philippine Stock Exchange Inc. (PSE) announced on Tuesday that the Bankers Association of the Philippines (BAP), along with several of its member banks, has completed all the necessary requirements for selling an 18.80 percent stake in Philippine Dealing System Holdings Corp. (PDSHC) to the operator of the Philippine stock market. 

Rizal Commercial Banking Corp. (RCBC) posted a net income of P9.5 billion for 2024, a decrease from the P12.22 billion recorded in the previous year, which included one-off items. However, excluding non-recurring items from 2023, RCBC's net income saw a 13.6 percent increase year-on-year.

The Manila Electric Co. (Meralco) on Monday announced a 20 percent surge in net income for 2024, reaching a record-high P46.47 billion, up from P38.68 billion the previous year. The growth was driven by higher energy sales, marking an all-time best for the company.

Manila Water Co. Inc. on Monday announced a robust 86.9 percent increase in consolidated net income for 2024 totaling P10.97 billion, up from P5.87 billion in 2023. The surge was fueled by growth across its core East Zone Concession as well as a significant expansion in its non-East Zone operations, including provincial and subsidiary businesses.

SM Prime Holdings Inc., the country’s largest property developer, announced a P100 billion capital expenditure plan for 2025, signaling confidence in sustained demand from consumers and businesses. The company expects election-related spending, easing interest rates, and a boost in tourism to propel its growth, with a strategic focus on its mall business and robust development pipeline.