SM Investments Corporation (SM Investments) reported a 10% increase in consolidated net income in the first half of 2024 to PHP40.2 billion, up from PHP36.5 billion in the same period last year. This reflected a 13% growth in net income in the second quarter, reaching PHP21.8 billion.

Consolidated revenues rose by 5% in the first half to PHP 301.4 billion from PHP286.7 billion year-on-year. Second quarter revenues grew by 6% to PHP157.7 billion.

Of total net earnings, banking accounted for the largest share at 50%. Property contributed 27% while retail accounted for 14% and portfolio investments' share was at 9%.

SM Prime Holdings, Inc. reported its consolidated net income increased 13% to PHP22.1 billion in the first half from PHP19.4 billion in the same period last year. Consolidated revenues grew 8% to PHP64.7 billion from PHP59.9 billion.

SM Prime's mall business, which accounted for 58% of consolidated revenues, grew 8% to PHP37.5 billion. Mall rental revenues increased 9% to PHP32.1 billion.

SM Prime's primary residential business accounted for 29% of consolidated revenues and registered growth of 8% in revenues to PHP18.9 billion. Reservation sales stood at PHP40.2 billion.

Other business segments composed of offices, hotels, and convention centers registered 13% in revenue growth to PHP7.0 billion.

BDO Unibank, Inc. (BDO) posted net earnings of PHP39.4 billion in the first half, 12% higher year-on-year, on the stronger momentum from its core intermediation and fee-based service businesses.

China Banking Corporation reported net income in the first half rose to a record PHP11.4 billion, up 6% compared to the same period last year on the back of stronger core lending and deposit-taking activities.