SM RETAIL
Our retail businesses experienced great success this year as we expanded with 419 new stores, focusing on areas with higher economic growth and aiming to reach more Filipinos.

SM’s deeply-rooted market presence in the Philippines stems from retail. Located in downtown, Manila, Mr. Henry Sy, Sr. opened the first Shoemart Store in 1958 where he offered a variety of shoes from both the country and abroad. He pioneered business systems remembered to this day by his loyal shoppers and employees. His innovative approach to customer service helped build a highly recognized brand which, in turn, enabled Shoemart to grow and evolve into a full-service department store; hence, changing its brand name into the simpler and more appropriate SM.

Always aiming to make life better for his customers, Mr. Sy expanded his merchandise to fulfill his commitment to offer a one-stop shopping experience. SM’s tagline, “We’ve Got It All For You” has become a guiding principle for the level of service that SM lives up to until today and has helped transform it into a household name. For over six decades, SM has developed generations of loyal customers, many of whom still fondly call the store Shoemart.

Retail Stores
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SM Supermarket
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SM Hypermarket
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Savemore
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Specialty Store
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Alfamart
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Waltermart
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SM STORE
The multi-awarded The SM STORE (formerly SM Department Store), which has over 60 stores strategically located in key cities throughout the country, carries a wide range of apparel, accessories, houseware, general merchandise and lifestyle products.
SM MARKETS

In food retail, SM Markets, comprised of SM Supermarket, SM Hypermarket and Savemore including  WalterMart Supermarket and Alfamart.  SM Markets remains among the top food retailers with its continued expansion, innovation and up-to-date assortment.

Specialty Stores

Specialty Stores Provide SM Retail with a diverse array of leading brands to capture growth in various categories of discretionary spending.

SM PRIME

Publicly listed SM Prime Holdings, Inc. (SM Prime) is one of the largest integrated property developers in Southeast Asia that offers innovative and sustainable lifestyle cities with the development of malls, residences, offices, hotels and convention centers.

SM Prime is committed to the country in providing world-class and sustainable property development. The company is the largest mall developer, both in terms of gross floor area (GFA) and geographical reach. It operates 86 malls in the country and 8 in China. While a large number of its malls are concentrated in Metro Manila, this area continues to present significant growth opportunities through the expansion of its existing malls, even as SM Prime penetrates new markets in provincial areas.

Apart from mall development and management, SM Prime has residential offerings nationwide through SM Development Corporation (SMDC) and leisure homes through a number of projects that complement Philippine tourism. SMDC provides access to luxurious urban living through vertical villages that are integrated with a commercial retail environment for a truly cosmopolitan lifestyle.

In terms of commercial developments, SM Prime has office buildings that primarily cater to the growing Business Process Outsourcing (BPO) industry. It continues to expand the E-com hub within the Mall of Asia complex and develop stand-alone as well as mall-based BPO buildings around the country. The company has hotels with over 1,900 rooms as well as convention facilities that aim to take advantage of the growing tourism and entertainment sectors.

Malls

World-class destination malls and integrated property developments
Malls in the Philippines
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Malls in China
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Residences

SM Prime’s diverse offerings in the growing real estate segment
Residential Projects
47 in NCR
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Hotels and Convention Centers

Experience luxury and world renowned Filipino hospitality
Hotels
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Convention Centers
and Trade halls
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Commercial

Delivering iconic buildings
Office Buildings
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BDO

At BDO, we are inspired to provide each and every customer with the best banking experience. We are focused on delivering excellence and providing access and convenience across all our products and services. ​

With assets worth over PHP4.4 trillion and more than 1,700 branches nationwide, BDO Unibank, Inc. (BDO) is the largest bank in the Philippines in terms of resources, capital, customer loans, deposits and assets under management. It is a full-service universal bank, providing industry-leading products and services such as Lending (corporate and consumer), Deposit-taking, Foreign Exchange, Brokering, Trust and Investments, Credit Cards, Corporate Cash Management and Remittances in the Philippines. Through its local subsidiaries, the Bank offers Investment Banking, Private Banking, Leasing and Finance, Rural Banking, Life Insurance, Insurance Brokerage and Stock Brokerage services.

Complementing SM’s strong retail orientation, BDO has developed a deeper understanding of the Philippine business and consumer landscape, allowing it to offer flexible financial solutions with the “We Find Ways” philosophy. BDO’s banking innovations such as longer banking hours and weekend operating schedules in mall-based branches, demonstrate the Bank’s service culture and customer-centric orientation.

Growing both organically and through acquisitions, BDO’s expansion peaked in 2007, when SM acquired a stake in Equitable PCI Bank, then the third largest bank in the country and merged it with BDO which was then the fifth largest. The merger catapulted BDO into its leadership position the following year, which it continues to hold until today. Its recent acquisition of One Network Bank, the largest rural bank in Mindanao expands its regional presence and opens up business lines for the bank.

To complement its extensive domestic distribution network, BDO also has over 20 international offices to service its growing clientele’s overseas needs as well as tap new markets. This consists of a full-service branch in Hong Kong and Singapore. As of 31 December 2023, BDO has the largest distribution network with more than 4,800 ATMs nationwide and over 1,700 operating branches and offices, including 16 overseas remittance and representative offices across Asia, North America, Europe and the Middle East.
Chinabank
China Banking Corporation (Chinabank) is a leading private universal bank in the Philippines with over 100 years of banking experience and history. Focused on you, our customers, we offer a full range of banking products and services, as well as the financial solutions to help you achieve your personal and business goals through our subsidiaries China Bank Savings, Chinabank Capital, Chinabank Securities, Resurgent Capital, Chinabank Insurance, and affiliate MCB Life.
Fortifying SM’s position in the banking field is its key investment in China Banking Corporation (China Bank, PSE: CHIB), one of the leading private universal banks in the Philippines in terms of assets, capital base and market value. China Bank is the first privately-owned local commercial bank in the Philippines, which catered initially to the needs of Chinese-Filipino businessmen. It played a key role in post-World War II reconstruction and economic recovery through its support to businesses and entrepreneurs in critical industries. It was established in 1920, was listed on the Philippine Stock Exchange in 1947, became the first bank in Southeast Asia to process deposit accounts on-line in 1969, the first Philippine bank to offer phone banking in 1988 and acquired its universal banking license in 1991.

China Bank offers a full range of banking products and services to institutional (corporate, middle market/commercial, SMEs) and individual (retail, mass affluent, high net worth) customers, as well as thrift banking, investment banking, insurance brokerage, and bancassurance through our subsidiaries China Bank Savings, China Bank Capital, China Bank Securities, Chinabank Insurance Brokers, and Manulife China Bank Life Assurance.

China Bank provides a wide range of banking services through its 648 branches and over 1,000 ATMs nationwide (including thrift bank subsidiary, China Bank Savings). The Bank serves the corporate, commercial, middle and retail markets with a wide range of domestic and international banking services.

From a strong foundation, China Bank has since been involved with strategic alliances to expand and strengthen its successful operations. Driven to be a catalyst of wealth creation, China Bank has been growing and improving to serve customers better, providing significant contribution to the country’s financial landscape and enduring legacy of successful partnerships with its clients.
Portfolio Investments
Our portfolio of investments aims to grow its share in the group’s earnings by investing more in the logistics and renewable energy sectors while also exploring high-growth opportunities in sectors that align with our ecosystem of SM businesses.

SM Investments Corporation (SMIC) continues to explore and invest in high growth businesses that can potentially enhance group synergies and offer stable cashflows with attractive financial returns. SMIC invests in growth sectors and market leaders which includes logistics, gaming and leisure, food manufacturing, natural resources, dormitories and office properties.

In all its portfolio investments, SMIC finds the best partners who know and can run the businesses effectively, manage the inherent risks and deliver superior returns. SMIC’s investments are in integrated resorts through Belle Corporation, in copper mining through Atlas Consolidated Mining and Development Corporation, in community mall chain CityMall, office towers under the NEO Subsidiaries and NEO Associates, in leading end-to-end logistics firm 2GO Group, in the country’s leading bakeshop Goldilocks, in Philippines Urban Living Solutions, Inc, the largest co-living provider in the country which manages and operates MyTown and in GrabPay with its focus on electronic wallet and payment development in the Philippines.

2GO Group
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Airspeed
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Atlas Mining
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Belle Corp.
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Goldilocks
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MyTown
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NEO Subsidiaries
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NEO Associates
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PGPC
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Belle Corporation

Belle Corporation is a listed company engaged in property development, primarily in the high-end leisure market and has various investment holdings including the development of an integrated gaming resort, the City of Dreams Manila Entertainment Complex and the Tagaytay Highlands residential and mixed-use mountain resort.

Atlas Mining

Atlas Consolidated Mining and Development Corporation (Atlas Mining) is the largest producer of copper concentrates in the Philippines. It operates the Toledo Copper Mine in the province of Cebu through its wholly-owned subsidiary Carmen Copper Corporation (Carmen Copper).

Philippines Urban Living Solutions

In 2017, SMIC invested in Philippines Urban Living Solutions, Inc. (PULS), developer and operator of modern dormitories. PULS operates the MyTown Co-Living brand and provides lifestyle-oriented living solutions to young urban professionals working in a variety of sectors and has drawn corporate clients that include the BPO sector, financial institutions, online gaming operators, insurance and fast-growing tech start-ups and traditional sectors such as mining, agriculture and education. SMIC has a 63.3% stake in PULS

Goldilocks Bakeshop

Goldilocks is a leading Filipino bakeshop heritage brand trusted by Filipino consumers for over 50 years. It has an extensive retail footprint of over 900 stores in the Philippines, overseas operations in the United States, Canada and Thailand.

2GO Group, Inc.

2GO enables the movement of goods and people throughout the Philippines as an end-to-end transportation, logistics, and distribution services provider. It serves small and medium enterprises, large corporations, and government agencies. 2GO operates four key business units: Sea Solutions, Special Containers and Projects, Express and Forwarding, and Contract Logistics.

Sea Solutions owns and operates a modern fleet of large interisland roll-on/roll-off freight and passenger vessels with defined schedules and speed of services in Luzon, Visayas and Mindanao. Special Containers owns and operates a modern fleet of reefer containers, reefer trucks, and ISOtanks which enable the movement of chilled and frozen goods and bulk liquids nationwide. Projects enables large infrastructure builds in industries such as power, telecom, and mining. Express and Forwarding provides time definite bulk and last-mile deliveries for B2B, B2C and C2C via air, land, and sea. Contract Logistics provides warehousing, crossdock, and trucking services all the way to store shelves.

2GO is a subsidiary of SMIC since June 2021 where it holds 67.21% ownership.

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