GT Capital relies on core biz to keep momentum in H2

Ty family-led GT Capital Holdings Inc. is confident that the strength of its businesses would be able to carry it through the second semester despite prevailing uncertainties across the globe.

In a statement on Wednesday, GT Capital president Carmelo Maria Luza Bautista said they were able to deliver strong financial results in the first semester. This was thanks to the conglomerate’s banking and automotive businesses.

“These achievements lay a strong foundation for meeting our full-year objectives,” Bautista said.

“We enter the second half with guarded confidence—aware of ongoing uncertainties in both domestic and global markets, yet encouraged by the strength and resilience of our businesses,” he added.

GT Capital reported a 34-percent surge in its first-half profit to P18.42 billion, a record high for the conglomerate.

The company said its top line had likewise climbed by 17 percent to P176.44 billion.

Metropolitan Bank and Trust Co. ended the first half with P24.8 billion in earnings, up by 5 percent due to healthy loan growth and margins.

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Net interest income was up 3.45 percent to P60 billion, buoyed by growth across business segments.

Noninterest income, on the other hand, swelled by 46.2 percent to P17.6 billion. This was on the back of robust trading and foreign exchange gains, as well as stable fee income.

Toyota Motor Philippines (TMP) likewise saw a 66-percent surge in profit. This reached a record P12.5 billion in the January to June period on strong retail sales volume and favorable foreign exchange movement.