BDO leasing and finance unit net income up 2.5% in ‘16

The leasing and finance subsidiary of the Sy-led BDO Unibank Inc. registered a 2.5 percent hike in net income in 2016 on higher domestic demand. (Photo: BDO Unibank/Facebook)

MANILA—The leasing and finance subsidiary of the Sy-led BDO Unibank Inc. registered a 2.5 percent hike in net income in 2016 on higher domestic demand.

In a statement, BDO Leasing and Finance, Inc. (BDO Leasing) said gross revenues rose 10 percent last year to PHP2.9 billion.

It attributed this growth mainly to the 14 percent expansion of the net lease and loan portfolio to PHP31 billion.

”The company will continue to leverage on its parent company’s wide market reach and boost marketing efforts in emerging growth areas and key provinces to sustain its growth momentum and keep its position as one of the leading providers of leasing and financing services,” it added.

This BDO subsidiary offers direct leases, real estate leases, sale and leaseback arrangements and receivables factoring.

It has its own subsidiary, BRO Rental Inc., which offers operating lease.