MANILA, Philippines - BDO Leasing and Finance Corp. expects a double-digit growth in its lease and loan portfolio this year as it hopes to benefit from the sustained growth of the country’s economy, its top executive said.
BDOLF president Georgiana Gamboa said they are also optimistic they could reap the rewards from its relationship build-up and synergy with key clients, markets and vendors.
Gamboa said the growth momentum, to be supported by strong domestic consumption and improved regional conditions, would encourage the expansion of BDOLF’s existing clients.
“These are the contractors and sub-contractors that are eyeing the government’s infrastructure projects under the Public-Private Partnership (PPP) program. There are as well quite a number of financing equipment requirements from private development projects capitalizing on the sustained growth in key sectors such as business process outsourcing, tourism and OFW remittances,†Gamboa said.
In 2012, BDOLF’s lease and loan portfolio rose 18 percent while its assets were up 16 percent.
Its net income for 2012 jumped 32 percent to P402 million compared to earnings in 2011.
According to the BDOLF official, the company would continue with its vendor collaboration and direct client selling in key industries such as construction, mining, medical, transport and logistics, among others.
Majority-owned by BDO Unibank Inc., BDOLF is primarily engaged in asset-based financing which includes finance and operating leases (both under direct or sale and leaseback arrangements), amortized commercial loans, installment paper purchase, floor stock financing and factoring of receivables.