GT Capital Holdings Inc. reported a consolidated net income of P28.8 billion for the full year 2024, slightly lower than P29.3 billion in the previous year.
However, excluding non-recurring gains from lot sales and incentives under the Comprehensive Automotive Resurgence Strategy (CARS) program, GT Capital’s core net income grew by 11 percent, driven by the record-breaking earnings of its key operating subsidiaries.
Metropolitan Bank & Trust Co., one of GT Capital’s primary assets, achieved a historic net income of P48.1 billion last year, marking a 14 percent year-on-year increase. This performance was underpinned by robust asset growth and improving asset quality. Metrobank’s net interest income rose by 8.7 percent to P114.1 billion, supported by a 17 percent increase in gross loans.
Meanwhile, Toyota Motor Philippines also posted strong results, with a 15 percent increase in net income to P15.9 billion, driven by a record 218,019 units sold, capturing 46 percent of the total market share.
GT Capital’s associate, Metro Pacific Investments Corporation (Metro Pacific), achieved a record P28 billion in net income in 2024, marking a 21 percent increase from the previous year. This growth was fueled by strong performances across its portfolio, including Meralco’s energy sales and increased water volumes from Maynilad, along with higher toll road traffic.
In the property sector, GT Capital’s subsidiary Federal Land continued to expand with successful project launches such as Meadowcrest in Laguna and luxury developments in Bonifacio Global City. Federal Land reported P12 billion in revenues and P750 million in net income for 2024.
“GT Capital’s core net income grew by 11 percent in 2024, reflecting the group’s strong fundamentals across diversified sectors,” said GT Capital President Carmelo Maria Luza Bautista. With continued growth across key subsidiaries, GT Capital remains well-positioned to drive long-term value for shareholders.
