Ayala Corp. books record P45B core net income in 2024

Zobel de Ayala clan’s diversified conglomerate, Ayala Corporation, booked an all-time core net income in 2024, on the back of strong performance across its banking, property, telecommunications, and infrastructure businesses.

In a disclosure to the Philippine Stock Exchange on Friday, Ayala Corp. reported a core net income of P45 billion, up 10% year-on-year.

“[The 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. We will continue to build a more concentrated, collaborative and connected Ayala and grow businesses that deliver long-term shareholder value,” said Ayala Corp. president and CEO Cezar Consing.

The conglomerate said its “BPI (Bank of the Philippine Islands), Ayala Land, Globe, and AC Energy & Infrastructure (ACEIC) delivered strong performances, underpinning the company’s results.”

In particular, BPI posted a net income of P62 billion, up 20% from a year earlier.

Ayala Land also saw its bottom line grow by 15% to P28.2 billion, while Globe Telecom Inc. booked a core net income of P21.5 billion, up 14% due to support from Mynt —the operator of GCash— as it sustained its growth momentum.

ACEN saw a net income of P9.4 billion, up 27%, on the other hand, ACEIC registered a core net income of P10.7 billion, up 13%. — BAP, GMA Integrated News