Listed Ayala Corp. reported on Thursday that its attributable net income plunged to P7.9 billion in the first half of 2020 on the impact of the coronavirus disease 2019 pandemic on its businesses.

In a disclosure, the Ayala-led conglomerate said the amount was a 79-percent decrease from P37.8 billion year-on-year. It blamed the slump on the aggressive loan loss provisions of its banking arm in the second quarter and suspended construction activities and mall operations of its property unit during the enhanced community quarantine.