AYALA Corp., announced that they had tallied a 42% increase in their core net income from January to September, largely due to the performance of their banking, real estate, and energy businesses during the period.

According to the company, their core net income had an upward trend of P31 billion, to which their net income grew by 35% to P32.3 billion.

This is due to their all one-off items including the P2.2-billion gain from the sale of the MCX toll road.

“Despite macroeconomic and geopolitical headwinds, our outlook remains intact as we look to end the year with profits exceeding pre-COVID levels,” AC president and chief executive officer Cezar Consing said.

“We continue to build on our solid 9M results and rationalize our portfolio wherever it makes sense to do so,” he added.

Likewise their banking business Bank of the Philippine Islands (BPI) had tallied a net earning of 26% to P38.6 billion due to sustained loan growth, margin expansion, and reduction provisions, while its property business Ayala Land Inc. saw its net income grow by 38% to P18.4 billion.