Ayala Corp. (AC), the country’s oldest conglomerate, posted its strongest financial performance in 2024, with core net income rising 10 percent to a record P45 billion.

Including one-off items, net income also grew 10 percent to P42 billion, driven by strong earnings from its banking, telecommunications, energy and real estate businesses.

To sustain growth, AC said in a Friday stock exchange report that it has earmarked P230 billion for capital expenditures this year.

“2024 was Ayala’s strongest year ever. We continue to be reliant on our core business units, but 2025 should be an inflection point for our smaller and newer businesses,” AC president and CEO Cezar P. Consing said.

“We will continue to build a more concentrated, collaborative and connected Ayala and grow businesses that deliver long-term shareholder value.”

BPI posted a 20 percent increase in net income to P62 billion as revenue growth offset higher operating expenses and provisions. Total revenues rose 23 percent to P170.1 billion, fueled by an 18 percent expansion in total loans to P2.3 trillion. Institutional loans grew 11 percent to P1.7 trillion, while non-institutional loans surged 42 percent, raising their share of the loan mix to 28 percent.

Ayala Land Inc.’s net income climbed 15 percent to P28.2 billion as total revenues grew 21 percent to P180.7 billion. Property development revenues increased 22 percent to P112.9 billion, led by a 23 percent rise in residential sales to P94.9 billion.

Globe Telecom Inc. saw a 14 percent increase in core net income to P21.5 billion, with EBITDA reaching an all-time high. Gross service revenues hit a record P165 billion, with mobile data revenues up 7 percent to P97.4 billion and corporate data revenues rising 11 percent to P20.4 billion.