BIZ BUZZ: Sy Group stays positive
Even as economic growth has slowed, mainly blamed on the widening corruption scandal, the Sy family’s SM Group is not shaken.
Tessie Sy-Coson’s confidence in the group realizing its targets next year isn’t flinching despite a series of headwinds, particularly the multibillion-peso flood control scandal that has been weighing down overall market sentiment.
“The next year will not be so bad if we think more positively, we just have to do our work in spite of all the political noise,” said the vice chair of SM Investments Corp. (SMIC).
“So for us, we’re going to continue what we have planned, and I think we will be able to achieve our targets next year,” she added.
The country’s largest conglomerate, with its empire stretching from retail, real estate t0 banking, weathered the rains as its profit in the January to September period rose by 6 percent to P64.4 billion.
SMIC’s banking arm, BDO Unibank Inc., is also staying upbeat about its financial performance in 2026.
Its top official even hinted at another banner year—although it might just tiptoe above 2025 as investors still face uncertainties.
“If [businesses] are not sure, then they will hold back … And we expect that to happen going into 2026,” BDO president and CEO Nestor Tan said.
Tan, however, said there were still bright spots.
“It’s not all doom and gloom, because there are still pockets of opportunities,” he said.
For one, he said provincial expansion, which is seen growing even faster than the capital region, may prop up the growth.
“People continue to invest,” he said.
Next year, the BDO executive said that lending growth in the industry may reach at least 10 percent if the local economy grows by 5 percent to 6 percent.
On the back of double-digit growth in its lending operations, the banking giant enjoyed a record P63.1 billion in earnings during the first nine months.
“Here’s to hoping that 2026 will be better than what we expect,” Tan said.
