GT Capital 9-month earnings fall 10% to P23.3B

GT Capital Holdings Inc. reported consolidated net income of P23.3 billion in the first nine months of 2026, down 10% from the same period last year, as slower economic growth and weaker consumer sentiment weighed on business conditions.

Its operating companies delivered varied results during the January-to-September period. Metropolitan Bank & Trust Co. (Metrobank) recorded net income of P36.3 billion, while Toyota Motor Philippines Corp. (TMP) posted P11 billion in net income and P176.3 billion in revenues. Associate Metro Pacific Investments Corp. (MPIC) reported core net income of P24.8 billion.

The conglomerate attributed the decline to slower Philippine economic growth, with gross domestic product expanding by 2.1% in the third quarter amid elevated inflation and global uncertainties.

“While the macroeconomic environment remained challenging in the third quarter, our operating companies stayed resilient and in line with expectations – sustaining their respective businesses, managing costs, and responding to the volatile market conditions. Our solid balance sheet, diversified portfolio, and prudent financial management provide us with the capacity to manage these headwinds. We are well-positioned to navigate prevailing market conditions, pursue emerging opportunities, and regain momentum as the economic landscape improves,” GT Capital president Carmelo Maria Luza Bautista said.

Metrobank’s earnings were supported by an 11.9% increase in net interest income to P102.7 billion and 13% growth in gross loans. Its non-performing loan ratio stood at 1.9%, below the industry’s 3.4%.

TMP retained its position as the country’s leading automotive company, capturing a 49.3% market share with sales of 151,457 vehicles. Electrified vehicles accounted for 11.8% of its total sales, increasing 37% year-on-year. The Zenix led the segment with a 22% sales increase.

Meanwhile, AXA Philippines recorded a 20% increase in gross premiums to P32.6 billion and consolidated net income of P2 billion. Its property businesses continued construction and redevelopment activities across residential, commercial and hospitality projects.