GT Capital Holdings, Inc. reported an 18 percent growth in core net income to P4.0 billion in the first quarter of 2022 from P3.4 billion during the same period last year largely propelled its bank and car companies’ stronger earnings.
In a disclosure to the Philippine Stock Exchange, the conglomerate said consolidated net income improved 7 percent to P4.4 billion in January to March 2022 from P4.1 billion in the previous year.GT Holdings said its growth was largely driven by Metropolitan Bank & Trust Company , whose net income amounted to P8 billion, as well as Toyota Motor Philippines , which realized a net income of P2.1 billion.
He added that, “This is a very encouraging indicator. Despite the headwinds of inflation, higher interest rates, market disruptions caused by the pandemic, and the more recent geopolitical events, we are confident that our recovery momentum is sustainable.” Metrobank posted net income of P8.0 billion in the first quarter of 2022, improving the Bank’s average return on equity to 10.3 percent.
Federal Land, Inc. posted total revenues of P2.8 billion in the first quarter of 2022, representing a 17 percent increase from P2.4 billion in the same period last year. Metro Pacific reported a consolidated core net income of P3.1 billion for the first quarter of 2022, up 23 percent from P2.5 billion a year earlier.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CEDC, GTFI team up for Toledo City community initiativesGlobal Business Power Corporation (GBP) subsidiary Cebu Energy Development Corporation (CEDC) and Metrobank Group’s GT Foundation, Inc. (GTFI) have teamed up to implement projects that would help
Read more »
Arthaland unveils Lucima model unitsEnvisioned to be the first quadruple-certified sustainable high-rise residential condominium in the country, Lucima by Arthaland and ARCH Capital unveiled its model units which was timed with the
Read more »
Will Toyota Motor PH Discontinue The Prius Hybrid? | CarGuide.PH | Philippine Car News, Car Reviews, Car Prices
Read more »
Get The Vios, Other Toyota Models With Low Down, Trade In Rebates This May | CarGuide.PH | Philippine Car News, Car Reviews, Car Prices
Read more »
NLEX’s income increased 44% in Q1' NLEX’s income increased 44% in Q1 ' NLEX revenues amounted to P3.9 billion, or 13 percent higher than 2021 figures on higher traffic volume and the impact of toll rate adjustment implemented in May 2021. Read more👇
Read more »
Iloilo water provider halts water interruption due to interim agreementThe six-month contract extension comes with a rise of water rates, as the distributor and its bulk provider agree on a basic rate of P21 per cubic meter.
Read more »