GT CAPITAL Holdings Inc. (GT Capital/ GTCAP) disclosed a seven percent increase in its core net income to P7.06 billion for the first quarter of 2024 from P6.56 billion in the previous year.
The conglomerate’s consolidated net income likewise grew by seven percent to P7.11 billion from P6.64 billion in the same period of last year.
This was driven by the record performance of Metropolitan Bank & Trust Company (Metrobank), the net income of which is at P12 billion, Toyota Motor Philippines, which realized a net income of P4 billion, and AXA Philippines Life and General Insurance Corp. with a net income of P728 million.
Federal Land Inc. recorded a net income of P291 million, while associate Metro Pacific Investments Corp. also contributed to GT Capital’s robust performance during the period. / PR