GT Capital Holdings, Inc. opened 2026 navigating a tougher operating environment, with resilient banking and infrastructure earnings helping cushion weaker consumer spending and softer demand across key sectors.
The conglomerate posted consolidated net income of P8.91 billion in the first quarter, down 3 percent from a year earlier, as elevated fuel prices, supply chain disruptions, and foreign exchange volatility weighed on consumption and business activity. Core net income slipped to P7.96 billion from P8.70 billion previously.
The results highlight the growing divergence within GT Capital’s portfolio: defensive, cash-generating businesses such as banking and utilities continued to expand, while consumer-facing segments like automotive and property showed signs of strain amid slowing economic momentum.
Banking arm Metropolitan Bank & Trust Company remained the group’s biggest stabilizer, growing net income 3 percent to P12.6 billion on stronger lending activity and wider margins. Net interest income jumped 13.6 percent to P33.4 billion, while asset quality stayed healthy, with non-performing loans at just 1.75 percent — comfortably below industry levels.
Infrastructure affiliate Metro Pacific Investments Corporation also delivered steady growth, posting a 5 percent rise in core earnings to P6.9 billion, driven mainly by power and healthcare operations.
In contrast, Toyota Motor Philippines Corporation reported a 16 percent drop in net income to P5.3 billion as consumers pulled back on vehicle purchases amid rising fuel costs and economic uncertainty. Still, Toyota retained a commanding 46.1 percent market share, while electrified vehicle sales surged 40.3 percent — an early sign that fuel volatility may be accelerating the shift toward hybrids and EVs.
Property subsidiary Federal Land, Inc. remained resilient despite the slower real estate market, booking P3.8 billion in reservation sales.
“The adverse geopolitical and economic conditions resulted in weaker consumer spending,” GT Capital President Carmelo Maria Luza Bautista said, adding that the group remains supported by a strong balance sheet and businesses tied to long-term national growth.
