BDO Leasing hikes profits

MANILA, Philippines - BDO Leasing and Finance Inc. (BDOLF) will continue to find the niche markets and serve markets avoided by banks. “Serving the corporates and customers from the SME (small medium enterprise) segment will likewise remain one of BDOLF’s priorities, as it improves on its platform to accommodate a more dynamic transaction environment,” Georgiana Gamboa, BDOLF president, said. BDOLF’s loan and lease portfolio as of December 2010 amounted to P14.6 billion, up 28 percent from the previous year. Net profit reached P309 million and revenues at P2.04 billion. BDOLF still remains the best capitalized among the local financing companies with stockholders’ equity of P4.5 billion. In the first quarter of 2011, net profit increased to P70.7 million. BDOLF targets a double-digit growth in its net profit for the full year of 2011.