SM Investments posts 6% rise in net income to P64B

SM Investments Corp. reported a 6 percent increase in consolidated net income to P64.4 billion in the first nine months of 2025, supported by stable contributions from its banking and property units despite weather-related disruptions and a softer retail environment. Revenues rose 4 percent to P482.3 billion.

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"The third quarter performance remained within our expectations," President and Chief Executive Officer Frederic DyBuncio said. “While adverse weather and flooding tempered activity in certain areas, our portfolio continued to show resilience. We remain optimistic heading into the fourth quarter.”

Banking remained the group’s biggest earnings driver, accounting for half of total profit, followed by property at 28 percent retail at 15 percent, and portfolio investments at 7 percent.

Retail Softens Amid Spending Shift

SM Retail posted a net income of P12.2 billion, down from P12.8 billion a year earlier, as the earlier school opening shifted discretionary spending into the second quarter.