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MODEL PORTFOLIO THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
investment-ss-3
Reports
Policy rate views: Fed expected to do baby steps
September 18, 2025 DOWNLOAD
economy-ss-9
Economic Updates
Inflation Update: Faster but full-year average within target
September 5, 2025 DOWNLOAD
948 x 535 px AdobeStock_433552847
Reports
Monthly Economic Update: Waiting on Jay Powell
September 2, 2025 DOWNLOAD
View all Reports
BusinessWorld 2 MIN READ

GT Capital attributes Q1 growth to Metrobank, TMP, AXA Philippines

May 17, 2024By BusinessWorld
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Listed conglomerate GT Capital Holdings, Inc. saw its first-quarter attributable net income grow by 7.1% to PHP 7.11 billion, led by its banking, automotive, and insurance businesses.

“This was driven by the record performance of Metropolitan Bank & Trust Co. (Metrobank), the net income of which is at PHP 12 billion, Toyota Motor Philippines (TMP), which realized a net income of PHP 4 billion, and AXA Philippines Life and General Insurance Corporation (AXA Philippines) with a net income of PHP 728 million,” the company said in a statement on Thursday.

“Federal Land, Inc. (Federal Land) recorded a net income of P291 million, while associate Metro Pacific Investments Corp. (MPIC) also contributed to GT Capital’s robust performance during the period,” it added.

Combined revenues for the first-quarter period rose 6.2% to PHP 74.1 billion from PHP 69.8 billion in the corresponding period a year ago. 

“We are encouraged by the quality and persistence of our core earnings growth on top of the prior year’s historical high levels,” GT Capital President Carmelo Maria Luza Bautista said.

“These demonstrate the strength in the underlying fundamentals of GT Capital and the resiliency of the domestic economy,” he added.

At the same time, he expressed confidence that the group will sustain its early gains throughout the remainder of the year.

GT Capital has interests in banking, automotive assembly, importation, dealership, and financing, property development, life and general insurance, and infrastructure.

Its operating companies also include Toyota Financial Services Philippines Corp., Sumisho Motor Finance Corp., GT Capital Auto and Mobility Holdings, Inc., JBA Philippines, Inc., and Premium Warranty Services Philippines, Inc.

MPIC is one of the three key Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority share in BusinessWorld through the Philippine Star Group, which it controls. — Ashley Erika O. Jose

This article originally appeared on bworldonline.com

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