Business and Economy
BDO Leasing posts P570M net income in 2017
It paid cash dividents of Php0.10 apiece (Shutterstock photo)
MANILA — The leasing and finance subsidiary of the Sy-led BDO Unibank Inc. registered flat growth in its net income in 2017 at Php570 million.
In a statement release Friday, BDO Leasing and Finance Inc. (BDO Leasing) said gross revenues last year amounted to Php3.2 billion, up 11 percent from year-ago’s Php2.9 billion. It attributed this rise to the nine percent growth of gross lease and loan portfolio to Php34.5 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,” it said.
It paid cash dividends of Php0.10 apiece, or a total of Php216.2 million, to its stockholders last March 27, the company revealed in the same statement.
The 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.
