Metro Manila (CNN Philippines, May 8) — SM Investments Corp. (SMIC) posted a ₱10.7-billion net income in the first quarter, boosted by strong gains from its banking and property subsidiaries.

The listed holding company said its bottom line grew by 26 percent versus the ₱8.5 billion it booked in first three months of 2018. Consolidated revenues stood at ₱109 billion as of March compared to ₱95 billion the year prior.

The Sy-led conglomerate reported strong performance across its core businesses, with bulk of its profits drawn from its banking units.

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