GT Capital recognized for integrated reporting

MANILA, Philippines — GT Capital Holdings Inc., the investment vehicle of the Ty Group, recently received recognition for integrated reporting in the region.

GT Capital was honored with a silver award in the first time category at the 8th Asia Integrated Reporting Awards (AIRA), considered the most distinguished accolade for integrated reporting in the region, held last month.

GT Capital’s chief risk officer and head of sustainability Joyce de Leon said the integrated reporting award is a testament to the conglomerate’s commitment to delivering long-term value to its stakeholders.

“We will continue to explore more initiatives aligned with best sustainability and reporting practices as we move forward,” De Leon said.

Integrated reporting provides a comprehensive and transparent view of an organization.

Specifically, the company looks into governance, performance, strategy and prospects, enabling providers of capital to make informed decisions and assessments.

Furthermore, integrated reporting enables companies to embed long-term sustainability into their business models.

Global investors have used integrated reports to assess an organization’s ability to create value in the short, medium and long-term, leading to adoption of integrated reporting by companies and market regulators worldwide.

The virtual awards ceremony was attended by senior business leaders and sustainability practitioners from 16 countries.

AIRA awards integrated reports that demonstrate high-quality, value-creation reporting. The winning reports are selected based on a rigorous assessment process, where an independent judging panel determines the finalists and winners.

Last year, GT Capital recorded a 67 percent growth in its consolidated net income to P18.4 billion, as the conglomerate’s businesses recovered along with the economic rebound.

Core net income increased by 45 percent to P15.9 billion from P11 billion in 2021, driven by net income contributions from banking, automotive and other segments.

GT Capital accelerated its recovery momentum as the economy recovered and consumption spending improved.

Net income contributions from the different businesses are as follows: banking unit Metropolitan Bank & Trust Co., P32.8 billion; automotive business Toyota Motor Philippines, P5.7 billion; property company Federal Land Inc., P4.5 billion and insurance arm AXA Philippines, P2.5 billion.