TY-LED GT Capital Holdings, Inc. reported a consolidated net income of P28.8 billion in 2024, down 1.7 percent from P29.3 billion in 2023, due to the absence of non-recurring gains recorded last year.
Excluding non-recurring gains, core net income rose 11 percent year on year, largely driven by record earnings generated by its banking and automobile businesses.
Metropolitan Bank & Trust Co. (Metrobank) posted a net income of P48.1 billion, up 14 percent, while Toyota Motor Philippines (TMP) netted P15.9 billion, 15.3 percent higher versus last year.
“GT Capital’s core net income grew by 11 percent in 2024, building on the record levels achieved the previous year,” company President Carmelo Maria Luza Bautista said.
“This continued improvement reflects the group’s strong fundamentals across diversified sectors.”
Metrobank President Fabian Dee praised “the hard work that all Metrobankers put” in growing the bank’s various segments, adding that their investments in technology and human resources and risk management initiatives “continue to bear fruit.”
“This positive momentum and our strong balance sheet set us up very well to continuously meet the growing needs of our clients and to pursue our medium-term strategies,” he added.
For TMP, earnings were primarily driven by a 9-percent increase in retail sales volume. The company sold a record 218,019 units last year, comprising 46 percent of the auto industry’s total sales of 473,842 units in 2024.
“Our record-breaking numbers reflect the trust and confidence that Filipinos have entrusted in our brand,” TMP President Masando Hashimoto said.
“This 2025, we remain committed to providing quality and reliable vehicles to our customers, ensuring that we continue to offer sustainable mobility solutions, and, in turn, supporting the country’s economic progress,” he added.
GT Capital’s wholly owned subsidiary Federal Land, Inc., meanwhile, saw net income plunge 64.3 percent to P750 million from P2.1 billion as revenues dropped 42.3 percent to P12 billion despite continued expansion in its products and service offerings.
Associate Metro Pacific Investments Corp., on the other hand, broke a new record, with consolidated core net income rising 21 percent to P23.6 billion, while AXA Philippines reported a net income of P2.5 billion, slightly lower compared to 2023’s P2.6 billion.
“We remain optimistic that our core businesses will sustain this growth momentum moving forward. This year, GT Capital is committed to pushing boundaries further and reaching new milestones,” Bautista said.
GT Capital shares fell by P15, or 3.0 percent, to P485 apiece on Wednesday amid a 0.1-percent rise for the benchmark Philippine Stock Exchange index.
