Conglomerate Ayala Corp. said Wednesday its first-half net income grew 21 percent to P22.3 billion from a year ago, on the back of stronger contributions from core banking, property, telecommunication and power generation businesses.
Minus one-off items, first-half core net income rose 18 percent to P24.3 billion, Ayala said in a stock exchange filing.
The company’s banking unit Bank of the Philippine Islands booked a record net income of P30.6 billion in the six-month period, up 22 percent from a year ago, on sustained growth in loans, net interest margins and fee income.
Ayala Land’s net income went up 15 percent to P13.1 billion as resilient demand and healthy consumer activity fueled revenues in key businesses. Globe’s core net income improved 18 percent to P11.7 billion as steady growth in data revenues and higher equity earnings from Mynt outpaced operating expenses.
