GT Capital Holdings, Inc. (GTCAP/GT Capital) announced its consolidated financial results for the first quarter of 2026, reporting a consolidated net income of Php8.91 billion. The figure represents a slight 3% decrease from the Php9.14 billion recorded during the same period in 2025.
The Group’s core net income for the quarter stood at Php7.96 billion, compared to Php8.70 billion in the previous year. These results reflect a challenging start to the year, characterized by a broader global economic slowdown, persistent 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,” said GT Capital President Carmelo Maria Luza Bautista. “These dampened our results and signal a general slowdown in the near term as uncertainties persist. 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.”
Despite the macroeconomic challenges, GT Capital’s banking component, Metropolitan Bank & Trust Company (Metrobank), posted a net income of Php12.6 billion for the first three months of 2026, a 3% increase year-on-year. This performance was driven by modest asset expansion, improved margins, and healthy fee income growth.
Key highlights for Metrobank include:
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Asset Growth: Total consolidated assets expanded by 8.3% to Php3.8 trillion, cementing its position as the second-largest private universal bank in the Philippines in terms of assets.
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Interest Income: Net interest income rose by 13.6% to Php33.4 billion, supported by a net interest margin of 3.7%.
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Loan Portfolio: Gross loans grew by 9.2% year-on-year, with consumer loans leading at 11.2% growth and corporate/commercial loans increasing by 8.6%.
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Asset Quality: The non-performing loans (NPL) ratio remained stable at 1.75%, significantly lower than the industry average of 3.44%. The bank maintains a robust NPL cover of 137.1%.
“Our first quarter results underscore the resilience of Metrobank’s core businesses and the consistency of our execution,” stated Metrobank President Fabian S. Dee. “With strong capitalization and healthy buffers, we remain well-positioned to manage risks while continuing to support the growth and funding needs of our customers.”
GT Capital’s associate, Metro Pacific Investments Corporation (MPIC), also contributed positively to the Group’s performance, reporting a 5% increase in core net income to Php6.9 billion for the quarter.
While the immediate outlook remains cautious due to global volatility, GT Capital remains focused on strategic discipline. “Amid a challenging environment, we remain firmly guided by our priorities as we pursue sustained performance across our operating companies,” concluded Mr. Bautista.
