Fintech PR
SM Investments net income rises 30% to PHP55.9 billion in YTD Sept on solid consumer confidence
PASAY CITY, Philippines, Nov. 9, 2023 /PRNewswire/ — SM Investments Corporation (SM Investments) reported a consolidated net income of PHP55.9 billion in the January to September period, higher by 30% from PHP42.9 billion in the same period last year.
Consolidated revenues rose 15% to PHP440.4 billion from PHP382.0 billion in the same period last year.
“Our ongoing healthy growth reflects buoyant consumer activity in malls and sustained spending in discretionary retail categories,” SM Investments President and Chief Executive Officer Frederic C. DyBuncio said. “We look forward to the fourth quarter, while continuing to monitor the impact of food prices and interest rates on consumer wallets.”
Of total net earnings, retail accounted for 18%. Banking accounted for the largest share at 47% while property contributed 26% and portfolio investments pitched in 9%.
Retail
SM Retail reported net income was at PHP13.7 billion, up 19% from PHP11.5 billion in the previous period.
Retail revenues grew 12% to PHP290.6 billion from PHP258.4 billion in the previous period.
Same store sales for the department store and specialty retail businesses grew 18% and 9% respectively, reflective of strong consumer spending in key categories, while store expansion also buoyed growth.
Food retail performance remained positive, supported by volume growth and expansion.
Banking
BDO Unibank, Inc. (BDO) reported its net income was PHP53.9 billion compared with PHP40.0 billion in the same period last year backed by broad-based growth across its core businesses.
Net interest income increased to PHP137.4 billion with customer loans growing 7.5% year-on-year to PHP2.7 trillion and deposits expanding 12% to PHP3.4 trillion.
Non-performing loan (NPL) ratio remained stable at 1.99% despite the higher interest rate environment, while NPL coverage improved to 176%. The bank continues to set aside provisions in line with its conservative credit and provisioning policies.
China Banking Corporation posted a consolidated net income of PHP16.2 billion in the first nine months, 10% higher compared to same period last year on the back of robust growth from core businesses and lower loan loss provisions. Net interest income grew by 16% to PHP39.2 billion as the 44% surge in top line revenues cushioned the nearly triple increase in interest expense.
Gross loans grew by 10% year-on-year to PHP765 billion, driven by the 19% expansion in consumer loans, particularly teachers’ loans and credit cards. Total deposits increased by 14% to PHP1.1 trillion resulting to a 49% CASA (current account savings account) ratio as term deposits grew year-on-year.
The bank’s level of bad loans continued to be manageable, posting a better-than-industry average NPL ratio of 2.2%.
Property
SM Prime reported PHP30.1 billion in net income in the first nine months of 2023, 37% higher than PHP22.0 billion in the same period last year. Consolidated revenues grew 26% to PHP92.6 billion from last year’s PHP73.7 billion.
SM Prime’s mall business, which accounts for 57% of consolidated revenues, posted PHP52.5 billion in the nine-month period, up by 37% from PHP38.2 billion in the same period last year. Mall rental income rose to PHP44.8 billion, 29% higher than last year’s PHP34.7 billion. SM Prime’s cinemas, event ticket sales, and other revenues increased significantly to PHP7.7 billion from PHP3.5 billion in the same period last year.
SM Prime’s primary residential business, led by SM Development Corp., reported PHP28.7 billion, 10% higher than PHP26.1 billion in the same period last year. SMDC’s reservation sales reached PHP89.3 billion, 6% higher than PHP83.9 billion in the same period last year.
SM Prime’s other key businesses, which include offices, hotels, and convention centers, generated PHP9.5 billion in revenues, up 33% from PHP7.2 billion in the same period last year.
Portfolio Investments
Portfolio investments continued to sustain growth, contributing 9% to the Group’s consolidated net income.
Philippine Geothermal Production Company and NEO, SM Investments’ office portfolio, contributed significantly to net income.
Balance Sheet
Total assets of SM Investments increased 4% to PHP1.5 trillion. Gearing ratio remained conservative with 35% net debt to 65% equity.
About SM Investments Corporation
SM Investments Corporation is one of the leading Philippine companies that is invested in market-leading businesses in retail, banking, and property. It also invests in ventures that capture high growth opportunities in the emerging Philippine economy.
SM’s retail operations are the country’s largest and most diversified, consisting of grocery stores, department stores and specialty retail stores. SM’s property arm, SM Prime Holdings, Inc., is the largest integrated property developer in the Philippines with interests in malls, residences, offices, hotels, and convention centers as well as tourism-related property developments. SM’s interests in banking are in BDO Unibank, Inc., the country’s largest bank, and China Banking Corporation, the fourth largest private domestic bank.
For more information, please visit www.sminvestments.com
Logo – https://mma.prnewswire.com/media/1880730/Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/sm-investments-net-income-rises-30-to-php55-9-billion-in-ytd-sept-on-solid-consumer-confidence-301982669.html
Fintech PR
Strictly Money Launches Crowdcube Campaign, Inviting European Investors to Fuel its Growth Journey
LONDON, Dec. 27, 2024 /PRNewswire/ — Strictly Money Ltd, the London-based fintech, has launched a crowdfunding campaign on Crowdcube to invite European investors to fuel its next phase of growth. Crowdcube, Europe’s largest private market investment platform, has powered success stories like Revolut, Qonto, and Monzo. Regulated by the UK’s Financial Conduct Authority (FCA), Crowdcube provides a trusted and innovative platform for investors to participate in transformative ventures.
Strictly Money’s primary objective with this campaign is to accelerate its growth, fuel product development, and expand its shareholder base. The funding will enable Strictly Money to launch its payment card and banking app in early 2025 and to strengthen its market presence in Scandinavia, the UK, and Ireland. The company plans to introduce hedge fund returns products, broadening investment options for consumers by the end of 2025.
Discover how you can be part of Strictly Money’s growth journey by visiting our Crowdcube campaign at https://crowdcube.getstrictlymoney.com.
Will Povey, CEO and Co-Founder of Strictly Money, said: “At Strictly Money, our vision is to empower everyday investors with access to wealth-building tools and opportunities that were previously reserved for high-net-worth individuals. With this crowdfunding campaign, we aim to bring together a diverse community of investors who share our passion for financial innovation and inclusivity. This funding will not only help us launch our innovative debit card and app but also drive the development of new products that deliver real value to our users.”
About Strictly Money:
Strictly Money is a UK-based financial technology company set to launch a debit card and a cutting-edge banking app in early 2025. The company aims to democratize access to high-performing hedge fund returns, providing innovative investment strategies and financial solutions tailored to investors, savers, and entrepreneurs. Strictly Money’s mission is to open up premium investment opportunities traditionally limited to high-net-worth individuals (HNWIs). For more information, visit https://strictly-money.com.
For media inquiries contact:
Mary Prendergast
Email: [email protected]
Important Notice:
Investing in startups and early-stage businesses involves risks, including illiquidity, lack of dividends, loss of investment and dilution. It should be done only as part of a diversified portfolio. Crowdcube is targeted exclusively at investors who are sufficiently sophisticated to understand these risks and make their own investment decisions. Please read the full Risk Warning on Crowdcube’s website before deciding to invest.
Logo – https://mma.prnewswire.com/media/2588210/Strictly_Money_Logo.jpg
View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/strictly-money-launches-crowdcube-campaign-inviting-european-investors-to-fuel-its-growth-journey-302339702.html
Fintech PR
Bybit Web3 Wallet Integrates Tonstakers: The First of Its TON Staking Offerings to Expand DeFi Opportunities
DUBAI, UAE, Dec. 27, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange,is excited to announce the integration of Tonstakers, the leading liquid staking protocol on the TON blockchain, into its Web3 Wallet. This marks the first of Bybit Web3’s TON staking offerings, reinforcing its commitment to expanding decentralized finance (DeFi) opportunities for its users.
With this integration, Bybit Web3 Wallet users can now seamlessly stake Toncoin ($TON) and receive $tsTON (Tonstakers LST) in return. The value of $tsTON increases relative to $TON every 26 hours, ensuring competitive rewards while contributing to the growth and success of the TON ecosystem. The integration also opens the door for 130 million users in the TON ecosystem to access TON staking directly within the Bybit Web3 Wallet.
Bybit is dedicated to simplifying DeFi adoption by providing intuitive and user-friendly staking experiences. This milestone partnership with Tonstakers enables users to unlock annual returns estimated between 3% and 5% APY, with rewards automatically compounded, further cementing Bybit’s role as a leader in DeFi accessibility.
Why Tonstakers Matters: The First of Its Kind
Tonstakers is the inaugural partner in Bybit Web3’s TON staking initiative, setting a new standard for staking services. With a total value locked (TVL) exceeding $260 million and a significant market share in the liquid-staked TON sector, Tonstakers offers Bybit Web3 Wallet users unparalleled access to TON staking benefits:
- Effortless Staking: Securely stake $TON with ease, thanks to the user-friendly interface within the Bybit Web3 Wallet.
- Earn $tsTON Rewards: Receive tokenized staked Toncoin ($tsTON), which can be leveraged within DeFi applications across the TON ecosystem.
- Explore DeFi Liquidity: Engage with Tonstakers Earn to provide liquidity using $tsTON, unlocking diverse earning opportunities.
“Bybit Web3 is proud to deepen our integration with the TON blockchain, a crucial step in our mission to foster a thriving and interconnected Web3 ecosystem,” said Emily Bao, Head of Bybit Web3. “This integration empowers our users with seamless and trusted access to TON liquid staking pools and unlocks valuable earning opportunities. As a strong believer in DeFi adoption, Bybit Web3 is committed to bridging the gap between Web2 and Web3, creating simple, easy, and accessible solutions that bring the benefits of decentralized finance to a wider audience. We believe this integration will significantly contribute to the growth and success of the TON ecosystem.”
Start Staking Today To begin staking your $TON and earning with $tsTON, visit https://www.bybit.com/en/web3/staking and discover the power of Bybit Web3 Wallet’s integration with Tonstakers. Bybit Web3 Wallet currently supports a wide range of staking services beyond TON tokens, including ETH, USDT, USDC, bbSOL, SUI, and more.
#Bybit / #TheCryptoArk / #BybitWeb3
About Bybit Web3
Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 130 million wallet addresses across over 30 major ecosystem partners, and counting.
Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as the world’s second-largest cryptocurrency exchange by trading volume, trusted by over 60 million users globally.
Join the revolution now and open the door to your Web3 future with Bybit.
For more details about Bybit Web3, please visit Bybit Web3.
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
Photo – https://mma.prnewswire.com/media/2588103/Bybit_Web3_Wallet_Integrates_Tonstakers_The_First_Its_TON_Staking.jpg
Logo – https://mma.prnewswire.com/media/2267288/Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/bybit-web3-wallet-integrates-tonstakers-the-first-of-its-ton-staking-offerings-to-expand-defi-opportunities-302339604.html
LAS VEGAS, Dec. 27, 2024 /PRNewswire/ — Yaber reported a remarkable 100% year-over-year sales surge during Black Friday. The T2 outdoor projector, featuring a built-in battery and handle-to-stand design, ranked among Amazon’s Top 3 “Most Wished For” list. Meanwhile, the L2s projectors, available in exclusive Pantone colors, sold out shortly after launch.
Yaber T2 projector is currently available at Christmas sale on Amazon and the official Yaber website. Meanwhile, pre-orders for the L2s projectors in exclusive Pantone colors will reopen in mid-January 2025.
This year, Yaber further expanded its global retail presence, debuting at the iconic Selfridges in the UK and securing placements in MediaMarkt across EMEA, Canada’s London Drugs, Saudi Arabia’s EXTRA, Belgium’s FNAC, Greece’s PUBLIC, Czech Republic’s Datart, Japan’s Bic Camera and Yodobaxi, and Malaysia’s premier IOI City Mall and Plaza Low Yat.
Looking ahead, Yaber is set to unveil its first ultra-short-throw laser projector and a new Keith Haring-inspired entry-level model at CES 2025. The launch event will take place at 4:00 PM PST, January 6, 2025 at Caesars Palace, Las Vegas. Visit Yaber’s booth in South Hall 1-30808 at Las Vegas Convention and World Trade Center (LVCC) from January 7-10 to discover more.
About Yaber
Founded in 2018, Yaber redefined home entertainment by introducing the world’s first entertainment projector, pioneering a new category in the industry. Today, its innovative projectors have delivered immersive experiences to users in over 120 countries, making Yaber a trusted name in global home entertainment.
The letter “Y” in Yaber embodies the youthful vigor and innovative spirit of Generation Y. It’s not just a symbol, but a unique representation of youth identity and attitude towards life, infusing the brand with rich cultural connotations of youthfulness within simplicity.
Committed to excellence, Yaber has been pushing the boundaries of audiovisual innovation, crafting projectors that inspire richer, more vibrant lifestyles. Its achievements are recognised with prestigious accolades, including the Red Dot, IDEA, VGP, and CES Innovation Awards.
Photo – https://mma.prnewswire.com/media/2588098/Yaber_achieves_100__YOY_sales_growth_Black_Friday.jpg
Logo – https://mma.prnewswire.com/media/2348478/5093200/Yaber_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/yaber-achieves-100-yoy-sales-growth-during-black-friday-and-gears-up-for-ces-2025-302339600.html
-
Fintech PR4 days agoGCL Energy Technology and Ant Digital Technologies Launch First Blockchain-Based RWA Project in Photovoltaic Industry
-
Fintech PR3 days ago2025 Will See Increased QR Code Payments but Payment Card IC ASPs Will Not Return to Pre-Covid Levels
-
Fintech PR3 days agoBybit Champions Web3 Innovation and Strengthens Ties with Asia’s Crypto Community at Taipei Blockchain Week
-
Fintech PR4 days agoCKGSB Successfully Hosts 2024 MBA Professor Training Program for Western China
-
Fintech PR4 days agoH.I.G. Realty Announces Strategic Partnership with Queen Mary BioEnterprises Innovation Centre in London
-
Fintech PR4 days agoDesigning for the future: SM’s vision through an architect’s lens
-
Fintech PR4 days agoAIMA Technology Welcomes Top U.S. Dealers to Shape the Future Together
-
Fintech PR4 days agoFXGiants Online Trading Platform Launches Bonus Initiative to Reward Traders