Corporate

Baliuag, Bulacan – Sumitomo Philippines, Inc. (SPI), a subsidiary of Japan’s Sumitomo Densetsu Co. Ltd., has inaugurated a state-of-the-art Technical Center aimed at enhancing the skills of its employees and subcontractors.

Power management company Eaton has announced the appointment of Secore Global Inc., the distribution arm of the Gentec Group, as official distributor of the Huanyu brand of low-voltage circuit protection solutions in the Philippines.

Asia United Bank said Thursday net profit in the nine months through September surged 41 percent to P8.6 billion, driven by higher revenues and reduced loan loss provisions.

The Bank of the Philippine Islands, the banking arm of the Ayala Group, said Thursday it posted a record net income of P48 billion in the first nine months of 2024, a 24 percent increase in the year-earlier period. The earnings growth was driven by strong revenue performance and positive operating leverage.

Philippine Seven Corp., the local licensee of the globally recognized 7-Eleven convenience store chain, has announced an ambitious plan to open approximately 500 new stores throughout the Philippines in 2025.