GT Capital’s net income drops 68% to P6.5B

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GT CAPITAL Holdings Inc. disclosed Monday, March 29, 2021, a core net income of P7.4 billion in 2020, a 53 percent decline from P15.8 billion during the previous year. Consolidated net income reached P6.5 billion last year, 68 percent lower from P20.3 billion in 2019.

Contributing to GT Capital’s results were Metropolitan Bank and Trust Company, with a net income of P13.8 billion, as well as Toyota Motor Philippines which realized a net income of P3.4 billion.

The conglomerate’s consolidated revenues reached P134.4 billion in 2020, decreasing 40 percent from P222.9 billion in the previous year. (PR)