Metrobank, Toyota lift GT Capital earnings to P26B

GT Capital Holdings, Inc., the listed conglomerate led by the Ty Family, reported a record core net income of P26.0 billion for the first nine months, up 21 percent from the same period last year. 

In a stock exchange report on Friday, the company attributed the growth to the contributions of its major operating units, including Metrobank, Toyota Motor Philippines (TMP), and Metro Pacific Investments Corp. (MPIC).

“As we enter the last quarter of the year, global and domestic headwinds are beginning to slow economic activity. Nonetheless, our growth momentum should allow us to post record earnings for 2025, backed by strong fundamentals,” GT Capital President Carmelo Maria Luza Bautista said.

Metrobank posted a record P37.3 billion net income, driven by strong loan growth, higher margins, and trading income. Net interest income rose 7.1 percent to P91.8 billion, while loans and deposits grew 10.8 percent and 7.6 percent, respectively. Non-interest income increased 5.3 percent to P25.4 billion. Operating costs rose just 1.7 percent, improving the cost-to-income ratio to 49.8 percent. Non-performing loans remained low at 1.7 percent, and total assets grew 8.9 percent to P3.6 trillion.

TMP saw net income jump 38.1 percent to P16.8 billion, with revenues up 11.6 percent to P199.6 billion. The company held a 45.6 percent market share, selling 164,797 units, up 3.6 percent, and continued expanding sales of electrified vehicles and new 2024 models.

Federal Land NRE Global, Inc., GT Capital’s property joint venture, posted reservation sales of P12.6 billion, up 6 percent, driven by ready-for-occupancy projects in Pasay and Bonifacio Global City and strong sales of its flagship project, The Observatory.

MPIC reported a record P23.6 billion core net income, supported by Meralco’s power business, higher Maynilad tariffs, and rising patient volumes across its hospitals.

AXA Philippines Life and General Insurance Corp. earned P2.1 billion, up 3.5 percent, helped by stronger life margins and better general insurance performance. Premium revenue rose 19.8 percent to P27.1 billion, and Annualized Premium Equivalent grew 22.7 percent to P4.0 billion.