MANILA, Philippines — More businesses seek the service of lending and financing firms to fund their growth and development. This is apparent in the growth of financing company Global Dominion in the recent years, which demonstrated robust financials amid a challenging economic landscape.
According to Global Dominion Finance's Officer-in-charge Tom Laderas, their revenue surged by an impressive 23% compared to the previous year, reaching a record-breaking P2.62 billion. This phenomenal growth was fueled by strategic initiatives focused on expanding customer base, breaking into new markets and enriching product portfolio.
Global Dominion invested in talent acquisition, increasing presence through branches expansions and intensifying marketing efforts, which contributed to its sustained healthy profitability throughout the recent years. This was reflected in an operating profit margin of 22%, leading to a net operating income of P518 million.
Its cash flow remained sturdy, enabling it to support growth initiatives and drive further expansion. Its non-performing loans accounted for only 0.9% of total net loan receivables, showcasing the financial strength and timely payment capabilities of its clients.
Global Dominion’s expected credit loss (ECL) percentage decreased from 1.7% in the previous year to 1.12% in 2023, underscoring its commitment to prudent risk management. With debt-to-equity ratios remaining below financial covenants at 3.19 times, the financing firm maintains the flexibility to pursue additional external funding opportunities.
In line with Global Dominion’s vision, it allocated P391 million toward salaries and employee benefits. Furthermore, the company demonstrated its unwavering commitment to regulatory compliance and community support by paying a total of P488 million in national and local taxes.
“Looking ahead, we are optimistic about the future of our operations, with a remarkable double-digit growth in net income in the first quarter of 2024 and new loan bookings totaling P2.337 billion from January to April 2024,” Laderas stated.
For her part, Global Dominion president and Managing Director Patricia Poco-Palacios said, “Through disciplined execution, strategic investments and a steadfast focus on delivering value to our customers, employees and shareholders, we are well-positioned to achieve sustained growth and success in the years to come.”
Global Dominion has been lending and financing since 2003 and has expanded to more than 100 locations nationwide. Its purpose is to ignite and accelerate growth of people and organizations to transform lives for the better.
For more information about Global Dominion, visit gdfi.com.ph.
Editor’s Note: This press release is sponsored by Global Dominion. It is published by the Advertising Content Team that is independent from our Editorial Newsroom.
for Global Dominion