Business
SM Investments Nets P70.2 Billion in 9 Months, Sustains Growth Amid Sluggish Economy
SM Investments reported a 9% increase in net earnings to P70.2 billion for the nine-month period, demonstrating growth momentum despite a sluggish economy. Consolidated revenues also rose 5% to P506.8 billion, with its banking business contributing the largest share of income at 48%.
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SM Investments Corp. (SMIC) reported a 9% year-on-year growth in its consolidated net income, reaching P70.2 billion for the first nine months of the year. The banking segment was the primary driver, contributing nearly half of the profit amid a double-digit increase in its loan portfolio.