LTG 9M income hits record P25.82B, up 14%

LT Group Inc. (LTG) posted record attributable net income of P25.82 billion in the first nine months of 2026, a 14% increase from P22.57 billion a year earlier, with its banking and tobacco businesses accounting for most of the earnings.

Philippine National Bank (PNB) contributed P11.95 billion, or 46% of the group’s total, while Fortune Tobacco Corporation accounted for P9.35 billion, equivalent to 36%.

“We remain focused on sustaining the performance of our core businesses while maintaining a disciplined approach to growth and capital management,” the company said in its report.

Tanduay contributed P2.75 billion, or 11%, while Asia Brewery added P612 million, or 3%. Eton Properties, Victorias Milling Company and other businesses accounted for the remaining earnings.

PNB’s net income rose 15% to P21.27 billion from P18.51 billion, supported by stronger net interest income and service fees. Net interest income increased 7% to P41.99 billion, while net service fees and commission income climbed 14% to P4.58 billion. Lower trading gains partly offset the improvements.

Fortune Tobacco’s net income grew 15% to P9.39 billion, driven mainly by higher earnings from its 49.6% stake in PMFTC following cigarette price increases in March. Industry volume reached 33.8 billion sticks, up 2% year on year.

Tanduay also recorded a 15% increase in net income to P2.76 billion, supported by a 7% rise in revenues to P26.84 billion. Its nationwide market share increased to 40.4% from 39.7%.

Asia Brewery’s net income declined to P619 million from P737 million, while Eton’s earnings rose to P545 million from P483 million on stronger leasing income.

As of 30 September, LTG had declared P0.90 per share in dividends and paid out P9.74 billion, representing a 31.4% payout rate.