GT Capital Holdings Inc. saw its core net income decline by 9 percent in the first quarter of 2026 to P7.96 billion from P8.70 billion a year earlier, as weaker consumer spending and global economic uncertainties weighed on its banking, automotive and property businesses.
In a disclosure on Friday, the Ty-led conglomerate said consolidated net income slipped 3 percent to P8.91 billion from P9.14 billion.
The company said the results reflected the impact of a broader global economic slowdown marked by supply chain disruptions, elevated fuel and commodity prices, and heightened foreign exchange volatility.
“The adverse geopolitical and economic conditions resulted in weaker consumer spending in the first quarter. These dampened our results and signal a general slowdown in the near term, as uncertainties persist,” GT Capital President Carmelo Maria Luza Bautista said.
“Nevertheless, we continue to draw encouragement from our core businesses that are in key sectors essential to long-term national growth. We are likewise reassured by the strength of our balance sheet, which provides us with the flexibility to navigate any future disruptions,” he added.
Banking subsidiary Metropolitan Bank and Trust Co. (Metrobank) posted a 3-percent increase in net income to P12.6 driven by asset expansion, improved margins, and higher fee income.
Metrobank’s consolidated assets rose 8.3 percent to P3.8 trillion, while net interest income climbed 13.6 percent to P33.4 billion.
Gross loans increased 9.2 percent year-on-year, supported by growth in both corporate and consumer lending.
“Our first quarter results underscore the resilience of Metrobank’s core businesses and the consistency of our execution,” Metrobank President Fabian Dee said.
“With strong capitalization, solid asset quality and healthy buffers, we remain well-positioned to manage risks while continuing to support the growth and funding needs of our customers,” he added.
The bank’s nonperforming loan ratio stood at 1.75 percent during the quarter, below the industry’s 3.44 percent as of February 2026, while its capital adequacy ratio reached 14.9 percent.
Meanwhile, Toyota Motor Philippines Corp. (TMP) reported a 16-percent decline in net income to P5.3 billion as revenues eased to P62.4 billion.
Vehicle sales fell 6.5 percent year-on-year to 51,922 units, although TMP maintained its market leadership with a 46.1-percent share of the domestic automotive sector.
TMP President Masando Hashimoto said the company continues to feel the effects of foreign exchange volatility, supply chain disruptions, and softer vehicle demand amid rising fuel prices.
GT Capital’s property arm, Federal Land Inc., generated reservation sales of P3.8 billion amid continued softness in the real estate sector.
Meanwhile, associate Metro Pacific Investments Corp. posted a 5-percent increase in consolidated core net income to P6.9 billion from P6.6 billion, driven by stronger contributions from its power and healthcare businesses.
AXA Philippines Life and General Insurance Corp. also recorded a 13-percent increase in annual premium equivalent sales of its life insurance business to P1.5 billion.
GT Capital shares rose by P6.00 to close at P466.00 each on Friday.
