GT Capital nets P12.1B
Ty-family led GT Capital Holdings Inc. grew its net profit last year by 32 percent to P12.1 billion on higher earnings contributed by its power, automotive and insurance businesses.
“The continued resilience of the domestic economy, coupled with still increasing opportunities in our key sectors underpinned our exceptional performance. We look forward to 2016 with optimism as we pursue our strategy of value creation through synergy, organic growth, and portfolio expansion,” GT Capital chair Francisco Sebastian said in a statement.
Consolidated revenue for the year expanded by 13 percent to P159.2 billion led by Global Business Power Corp. (GBPC), Toyota Motor Philippines Corp. (TMP) and Philippine AXA Life Insurance Corp.
Banking arm Metropolitan Bank & Trust Co. reported a 20-percent rise in core earnings, ending 2015 with a consolidated net income of P18.6 billion. Total resources reached a new high of P1.8 trillion.
During the year, the bank grew its low-cost deposit base by 18 percent, more than double system-wide deposit growth. The bank ended the year with total deposits of P1.3 trillion.
On the back of strong demand for the commercial and consumer space, Metrobank grew its loans and receivables by 17 percent for a total loan portfolio of P887.2 billion. Full-year net interest income stood at P49 billion, or more than 70 percent of total operating income.
Automotive arm TMP posted a 41-percent growth in net profit last year to P10.2 billion. Consolidated revenue rose by 9 percent to P114.3 billion as it sold 125,027 vehicles in 2015, up by 18 percent for the year. TMP sustained its market leadership with a share of 39 percent.
Power unit GBPC grew its net profit last year by 30 percent to P2.9 billion. Net fees generated from current total capacity of 704 megawatts hit P18.4 billion during the period.
Property arm Federal Land reported a net income of P1.6 billion for 2015, up by 5 percent year-on-year. Revenue grew by 10 percent to P10.3 billion. Real estate sales during the period rose by 8 percent to P7.5 billion.
