Filinvest Development Corp. (FDC) said profit for the first quarter of the year reached P2 billion, down 35 percent from P3 billion last year.
Revenues reached P16.6 billion, down 23 percent from P21.56 billion, due to the declines across the portfolio.
EastWest Bank posted a profit of P5.9 billion, down 11 percent from last year, on the back of a compressed net interest margin (NIM) of 7.5 percent from 8.1 last last year due mainly to the interest rate cap on credit cards beginning in November last year.
Filinvest Land Inc. (FLI), and unlisted Filinvest Alabang Inc. (FAI), posted P850 million in profit, down 45 percent from last year.
FDC Utilities Inc. (FDCUI) posted profit of P463 million, down 9 percent. Revenues reached P2 billion, down 10 percent. Filinvest Hospitality Corp. posted a loss of P209 million, over a topline of P231 million, down 66 percent, as business volume remained highly affected by the pandemic.
