Filinvest net income climbs 58 pct. in 2023 | ABS-CBN
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Filinvest net income climbs 58 pct. in 2023
Filinvest net income climbs 58 pct. in 2023
ABS-CBN News
Published Apr 03, 2024 12:18 PM PHT
An Eastwest Bank branch in Manila on January 25, 2023. George Calvelo, ABS-CBN News
An Eastwest Bank branch in Manila on January 25, 2023. George Calvelo, ABS-CBN News MANILA -- Gotianun-led Filinvest Development Corporation said its net income climbed 58 percent to P8.9 billion in 2023.
MANILA -- Gotianun-led Filinvest Development Corporation said its net income climbed 58 percent to P8.9 billion in 2023.
The company said this is because of the strong performance of their banking, property, and power segments.
The company said this is because of the strong performance of their banking, property, and power segments.
Their banking and financial services arm contributed P4.6 billion to the net income, while the property business gave P3.8 billion. The power subsidiary contributed P2.9 billion
Their banking and financial services arm contributed P4.6 billion to the net income, while the property business gave P3.8 billion. The power subsidiary contributed P2.9 billion
Banking subsidiary EastWest Bank alone saw its net income climb P6.1 billion in 2023, up 32 percent from 2022 figures, on the back sustained consumer loan growth and strong deposit generation.
Banking subsidiary EastWest Bank alone saw its net income climb P6.1 billion in 2023, up 32 percent from 2022 figures, on the back sustained consumer loan growth and strong deposit generation.
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Meanwhile, Filinvest Land's net income jump 30 percent due to strong revenues from their residential and leasing business segments.
Meanwhile, Filinvest Land's net income jump 30 percent due to strong revenues from their residential and leasing business segments.
Filinvest's power arm, FDC utilities, also hiked its profits because of higher volume and average selling prices.
Filinvest's power arm, FDC utilities, also hiked its profits because of higher volume and average selling prices.
The company also said their hotel business made a rebound in 2023, with net income booming to P106 million propped up by stable domestic tourism.
The company also said their hotel business made a rebound in 2023, with net income booming to P106 million propped up by stable domestic tourism.
Filinvest's net income rose 77 percent to P3.9 billion in the first half of 2023.
Filinvest's net income rose 77 percent to P3.9 billion in the first half of 2023.
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