Diversified conglomerate SM Investments Corp. (SMIC) saw a 53% growth in its net income for the past year, driven mainly by the strong performance of its key business units.
SMIC said its net income grew to P61.7 billion from P40.4 billion, while its consolidated revenues rose by 28% to P553.8 billion from P432.4 billion in the previous year.
The banking unit BDO Unibank Inc. said its net income increased to P57.1 billion from P42.8 billion, with gross customer loans up by 9% and total deposits up by 14%. “These companies are all profitable and generating significant contributions to our group earnings,” he added.
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