BDO Leasing and Finance, Inc. (BDO Leasing) posted a net income of P282 million in the first six months of 2017, a steady performance compared to year-ago.
Total assets grew by 16% to P42 billion, driven by the 16% growth in gross loan and lease portfolio to P33 billion. While gross revenues went up by eight (8) per cent to P1.5 billion, competitive pressures affected margins and tempered bottomline performance.
The Company was granted authority by the Securities and Exchange Commission (SEC) to issue P25 billion STCPs (Short-Term Commercial Papers). This funding program will allow BDO Leasing to tap more businesses in provincial growth areas as well as support the financing and leasing requirements of local industries in its target markets.
About BDO Leasing
BDO Leasing and Finance Inc. is the leasing and financing subsidiary of BDO Unibank, Inc. (BDO) which provides its customers direct leases, real estate leases, sale and leaseback arrangements as well as receivables factoring. It also provides operating leases through its wholly owned subsidiary BDO Rental Incorporated. BDO Leasing and Finance is among the country’s dominant players in terms of total assets, capitalization and profitability.