Metrobank, Toyota lift GT Capital income in Q1
GT Capital Holdings, Inc. reported an 18 percent growth in core net income to P4.0 billion in the first quarter of 2022 from P3.4 billion during the same period last year largely propelled its bank and car companies’ stronger earnings. In a disclosure to the Philippine Stock Exchange, the conglomerate said consolidated net income improved 7 percent to P4.4 billion in January to March 2022 from P4.1 billion in the previous year. GT Holdings said its growth was largely driven by Metropolitan Bank & Trust Company (Metrobank), whose net income amounted to P8 billion, as well as Toyota Motor Philippines (TMP), which realized a net income of P2.1 billion. Higher earnings contributions from AXA Philippines and from GT Capital associate Metro Pacific Investments Corporation also supported the conglomerate’s positive performance during the period. “Our financial results show the growth momentum from last year carried over into the first three months of 2022. At these levels, we have already surpassed our first quarter 2019 pre-Covid core income by 18 percent,” GT Capital President Carmelo Maria Luza Bautista said. He added that, “This is a very encouraging indicator. Despite the headwinds of inflation, higher interest rates, market disruptions caused by the pandemic, and the more recent geopolitical events, we are confident that our recovery momentum is sustainable.” Metrobank posted net income of P8.0 billion in the first quarter of 2022, improving the Bank’s average return on equity (ROE) to 10.3 percent. (James A. Loyola)
“A drive to sustainability” or a drive to a much cleaner, safer and environmentfriendly tomorrow is the road that Isuzu Philippines Corporation (IPC) will follow under the leadership of its new president, Noboru Murakami who took over from Hajime Koso on Monday, May 16.
“As the number one truck brand in the country, we are taking this challenge to show more responsibility to the society and the environment,” Mr. Murakami said during the turnover ceremony.
“That is why in celebration of our 25th inaugural year, IPC will be working towards a more sustainable path. For IPC, sustainability is no longer a choice but rather our way forward. We understand that as a social obligation, our company must put priority into protecting the environment without compromising ‘customer success’. This movement will not only be reflected by our products but will come from within, meaning changes in our values, operations, and the way we do business moving forward,” he said, defining the new goal of IPC.
Murakami replaces Koso who was IPC president for seven years, the longest term a Japanese executive held in the company.
“It’s been an honor working for Isuzu Philippines for the past seven years. I truly admire the dedication and resilience of the Filipino people, especially our team members in IPC. The last two years has been the most challenging, but we emerged to be stronger with the support of everyone in IPC including our business partners, to which I am truly grateful for,” said Koso.
Murakami, who was assigned as general manager at Isuzu Motors Limited (IML), started holding office May 17. He will oversee IPC’s operation as well as the development of its dealer network nationwide.
He joined IML in 1995, mainly handling international sales. From 2003 to 2011, Murakami worked under IML Corporate Planning before being assigned to Isuzu North America Corporation (INAC) as vice president in 2014. In 2016, he was promoted executive vice president of INAC then president & CEO from 2018 to 2020.
“I’ve always been intrigue by the market dynamics of the ASEAN region. The Philippines has become one of the most emerging markets when it comes to automotive, seen in the numerous models being introduced year after year, so it really makes me excited to start working in this country,” said Murakami.
With his long and extensive career both in sales and management, Murakami promises to continue IPC’s long reign as the number one truck brand in the country.
“Being on top puts more challenge to us, we cannot be complacent with what we currently offer,” he said.
According to IPC, this new direction forms part of their corporate goal to build an ‘Isuzu Kingdom’ in the future, where in they are providing the best business solutions coupled with excellent aftersales service as well as contributing to the welfare of the society and the environment.
At the turnover ceremony, Murakami presented a token of IPC’s appreciation for Koso’s outstanding achievements which saw the company take the No. 1 spot in all truck categories, mark its 300,000th unit sale, reach high record breaking sales for the MU-x, and a 30 percent growth in its dealer network, from 36 dealerships in 2015 to 48 today.