BDO Leasing earns P570 million

MANILA, Philippines — BDO Leasing and Finance Inc., the leasing and financing entity of BDO Unibank, posted a net income of P570 million in 2017, marking a steady performance versus the previous year.

BDO Leasing vice chairman and president Roberto Lapid told stockholders during their annual meeting that gross revenues went up 11 percent to P3.2 billion, with gross lease and loan portfolio rising nine percent to P34.5 billion. However, higher funding and operating costs tempered bottom line performance.

Moving ahead, the company will continue to leverage on its parent company’s extensive market reach, strengthen its provincial presence to penetrate untapped markets and support the growth sectors in the economy, he said.

The company paid cash dividends of P0.10 per share, or a total amount of P216.2 million, to stockholders last March 27.