GT Capital's core net income grows 82% to P28.8B in 2023 from P15.9B

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Business.(Business File photo)

GT CAPITAL Holdings Inc. disclosed an 82 percent growth in its core net income to a record high of P28.8 billion for full-year 2023 from P15.9 billion in 2022.

The conglomerate’s consolidated net income increased 57 percent to P28.7 billion in 2023 from P18.4 billion in 2022. The company’s historic performance was brought about by Metropolitan Bank & Trust Company, whose net income improved to P42.2 billion, Toyota Motor Philippines, which realized a net income of P13.8 billion and Federal Land Inc. that recorded a net income of P2.1 billion.

AXA Philippines reported a net income of P2.6 billion, while associate Metro Pacific Investments Corp. also contributed to GT Capital’s all-time-high performance.

Compared to pre-Covid 2019, GT Capital’s core and consolidated net income for 2023 are already considerably higher at 83 percent and 41 percent, respectively. / PR

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