BDO Leasing expands loan portfolio in 2010

MANILA, Philippines - BDO Leasing and Finance Inc. (BDOLF) ended 2010 with a 28-percent growth in loan portfolio to P14.58 billion from P11.39 billion the previous year. The increase was largely attributed to management’s renewed focus on corporate accounts. Net income improved to P308.7 million from P300 million in 2009. Gross income reached to P2.04 billion. Past due fell by seven percent from P715.3 million in 2009 to P665 million last year. BDO Leasing products include direct leases, sale-leaseback arrangements and operating leases. Financing products, on the other hand, include commercial and retail loans, installment paper purchase and factoring of receivables. Loan availments of clients are used to finance the purchase of automobiles, trucks, office equipment, industrial, agricultural and office machinery, and real property, and financial assets such as receivables.