GT Capital’s revenue rose 67% to £18.4bn.

GT Capital Holdings Inc., the holding company of the Ty group, said its profit rose 67% in 2022 to 18.4 billion pesos from 11 billion pesos in the previous year, mainly due to the good performance of its banking division.

Metropolitan Bank and Trust Co. had an income of 32.8 billion pesos; Cost of Toyota Motor Philippines Inc. amounted to 5.7 billion pesos; Federal Land Inc. – 4.5 billion pesos; and AXA Philippines, 2.5 billion pesos.

Net profit of Metro Pacific Investments Corp., an associate of GT Capital, rose 15% to 14.2 billion pesos.

“GT Capital accelerated the pace of recovery in 2022, reflecting the country’s strong economic growth, normalization of mobility and a resurgence in consumer spending. Despite certain obstacles, namely higher inflation, higher interest rates and volatility in exchange rates, the GT Capital group of companies performed well in all sectors. We remain optimistic about the outlook for the coming year and are confident in our strong market positions in the key sectors we represent,” said GT Capital President Carmelo Maria Lusa Bautista.

Metrobank performed well with a 48% year-on-year increase in net income to 32.8 billion pesos on the back of improved corporate and consumer lending, strong fee and commission income, subdued growth in operating expenses and lower reserves amid stable asset quality.

In the period from October to December 2022 alone, the bank’s profit rose to 9.3 billion pesos, up 55% from a year ago.

“Building on the strategies we initiated during the pandemic, our strong performance and the recognition we received in 2022 reflects our efforts to support the growing needs of our customers as the economy recovers. With our strong balance sheet and highly skilled Metrobankers team, we are ready to continue to be a trusted partner to all of our stakeholders for the long term,” said Fabian S. Dee, president of Metrobank.

Toyota Philippines recorded new vehicle sales of 174,106 units last year, up 34 percent from the previous year. On the other hand, the automotive market saw 348,200 units sold, or a 24 percent increase. This resulted in a record high market share for Toyota of 50 percent.

In line with retail sales growth, consolidated revenues rose 40% to 183.8 billion pesos from 131.3 billion pesos in the previous year. The main drivers of sales growth last year were the continued launch of new or refreshed products, as well as relatively strong shipments of both locally made and fully assembled units from Thailand, Indonesia and Japan.

Due to the rapid and sharp depreciation of the peso against the US dollar last year, Toyota’s consolidated net income fell to 5.7 billion pesos from 6 billion pesos in 2021.

At the same time, Federal Land recorded a four-fold jump in net income to 4.5 billion pesos from 1 billion pesos in 2021, thanks to stronger reservation sales and returns on investments in Federal Land NRE Global Inc.

The company’s total revenue for the year was 15.4 billion pesos, up 49% from 10.4 billion pesos in 2021.

Booking sales rose 74% to 18.5 billion pesos from 10.6 billion pesos in 2021.

Federal Land launched two new projects in 2022: Aki Tower in February and Mitsukoshi BGC in November.

Aki Tower is The Seasons Residences’ third residential tower located in the planned federal land area of ​​Grand Central Park in Bonifacio Global City.

On the other hand, Mitsukoshi BGC, which was announced in 2018, opened in November 2022. This year the company is on the way to full-fledged work. This is a Sunshine Fort Bonifacio project in partnership with Federal Land, Isetan Mitsukoshi Holdings Ltd. and Nomura Real Estate Development Co. Ltd. and is also home to The Seasons Residences.

AXA’s consolidated gross premiums in the Philippines for life and general insurance reached 28.2 billion pesos in 2022, compared to 43.2 billion pesos in the same period last year due to volatility in the capital markets and limited distribution of bancassurance in a geopolitical environment. uncertainty.

The insurer’s consolidated net income increased 12 percent to 2.5 billion pesos last year from 2.3 billion pesos the previous year due to lower attrition losses from its general insurance business.