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FDC earnings climb 36% to P12.1 billion
Filinvest Development Corporation (FDC) reported a record net income of P12.1 billion in 2024, a 36 percent increase from the previous year.
This strong performance was driven by a 22 percent rise in total revenues and other income, reaching P113.4 billion.
All of FDC's business segments, including Banking, Power, Real Estate, Hospitality, and Sugar, experienced double-digit growth.
Specifically, the banking segment, under EastWest Bank, contributed P7.6 billion to the net income, with consumer lending growing by 16 percent.
Real estate, through Filinvest Land Inc. and Filinvest Alabang Inc., added P3.8 billion to the group's net income, marking a 3.2 percent increase.
FDC President and CEO Rhoda A. Huang stated that 2024 was the company's strongest year, attributing the success to adaptability and capitalizing on opportunities.
The company is celebrating its 70th anniversary this year.
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