GT Capital Holdings Inc., the investment arm of the Ty family, reported a slight one percent dip in consolidated net income for 2024, totaling P28.8 billion, compared to P29.3 billion the previous year. However, excluding one-time gains from lot sales and incentives under the government’s Comprehensive Automotive Resurgence Strategy (CARS), the company saw an 11 percent increase in its core net income.
The strong performance of key subsidiaries played a significant role in this outcome. Metropolitan Bank and Trust Co. (Metrobank) posted a record net income of P48.1 billion, up 14 percent year-on-year, driven by solid asset growth and improving asset quality. Meanwhile, Toyota Motor Philippines Inc. also achieved a record net income of P15.9 billion, reflecting a 15 percent increase fueled by a 9 percent rise in vehicle sales, with the company maintaining its leadership in the country’s auto market.
In addition, GT Capital’s associate, Metro Pacific Investments Corp. (MPIC), recorded an all-time high net income of P28 billion for 2024, further underscoring the robust performance of its diversified business portfolio.
GT Capital president Carmelo Maria Luza Bautista highlighted the group’s continued success across various sectors, noting that the 11 percent increase in core earnings for 2024 builds on last year’s record results. Bautista expressed optimism about sustaining growth in the coming years, committing to push further boundaries and reach new milestones.
Overall, the results showcase GT Capital’s strong and diversified business model, with its subsidiaries leading the charge in banking, automotive, and infrastructure sectors.
