TY-LED GT Capital Holdings, Inc. posted a 51.3% increase in its attributable net income to P3.94 billion in the second quarter from P2.60 billion last year, with its banking segment driving the growth. READ:
Justine Irish D. Tabile
GT Capital’s topline rose by 42.6% to P57.5 billion in the second quarter from P40.31 billion in the previous year. Metrobank’s asset quality was said to have improved, which allowed trimming of its provisions by 46% while its non-performing loan cover was at 196%. “[Metrobank] registered a 9% [year-on-year] increase in its gross loans and NPL ratio improvement, both reflecting improving business and consumer confidence,” Mr. Fausto said.
GT Capital Auto and Mobility Holdings, Inc. Chairman Vince S. Socco said: “Despite the higher inflation and foreign exchange volatility, TMP delivered strong results in the first half and has continued to outpace the industry.” Metro Pacific Investments Corp. , in which GT Capital has shareholdings, reported a 24% year-on-year increase in its consolidated core net income to P7.5 billion in the first half.
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