Filinvest Group moves fast forward to sustain growth in key sectors

Filinvest Development Corporation (FDC) is evolving as one of the fastest-growing conglomerates in the Philippines.

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(FDC) is evolving as one of the fastest-growing conglomerates in the Philippines. As the parent company of diverse businesses contributing to key sectors driving economic progress, FDC is focusing on new strategies to ensure growth and excellence, showcasing remarkable financial results in the first nine months of 2024.

FDC's net income attributable to equity holders of the parent company for the first nine months of the year grew by 59% to P9.5 billion, compared to last year's P5.9 billion net income for the same period. For the third quarter of 2024, net income grew by 97 percent to P3.9 billion from P2.0 billion in the same period in 2023.

Total revenues and other income for the first nine months of 2024 rose by 34 percent versus the same period in 2023 to P86.8 billion. The growth was broad-based, led mainly by the banking, power, and property businesses.

EastWest Bank, Filinvest Land Inc. (FLI), Filinvest Alabang Inc. (FAI), FDC Utilities Inc. (FDCUI) and Filinvest Hospitality are building on their core strengths to propel the parent company's growth. FDC has likewise identified the hospitality business and renewables as new growth engines.

BANKING SECTOR'S CONSUMER GROWTH

EastWest Bank remains a strong pillar within the Filinvest Group, accounting for 38% of the conglomerate's bottom-line in the first nine months of 2024. Its contribution was driven by the consumer loans, which remain the Bank's core product.