GT Capital reports 11% core net inc growth in '24

GT Capital Holdings, Inc., an investment arm of the Ty family, reported a two percent decrease in consolidated net income to ₱28.8 billion for 2024 compared to ₱29.3 billion in 2023 due to non-recurring gains from lot sales and incentives.

Excluding these non-recurring items, GT Capital's core net income grew by 11 percent from the previous year, driven by strong performances from its operating companies, including Metropolitan Bank & Trust Company (Metrobank) and Toyota Motor Philippines (TMP).

GT Capital President Carmelo Maria Luza Bautista highlighted the group's sustained growth momentum across diversified sectors, expressing optimism for continued improvement in core businesses.

Metrobank recorded a net income increase of 14 percent to ₱48.1 billion in 2024, while TMP saw a 15.3 percent rise in net income to ₱15.9 billion, driven by increased retail sales volume.

Metro Pacific Investments Corporation (MPIC) also achieved record-high net incomes of ₱23.6 billion and ₱28 billion for core and reported earnings respectively, reflecting strong performance across its businesses.