Quezon City–(PHStocks)–At its Annual Stockholders’ Meeting, Vice Chairman and President Roberto E. Lapid reported that BDO Leasing and Finance Inc. (BDO Leasing, PSE: BLFI) posted a 20% expansion in net income to PhP504 million in 2014 from PhP420 million recorded in 2013. This was driven by the increase in lease and loan portfolio to PhP23.6 billion coming from key industries such as construction, real estate, mining and health care.
BDO Leasing also leveraged on the Parent Company’s extensive market reach, gaining access to its middle-market and consumer lending accounts.
For the first quarter of 2015, the company’s net income grew to PhP129.7 million on sustained expansion in its portfolio. Loan and lease portfolio went up by more than PhP2 billion to PhP24.4 billion, resulting in a 14 per cent year-on-year jump in total revenues to PhP605.9 million from PhP533.8 million in the same period last year.
In the same meeting, Lapid likewise disclosed the company’s full-year 2015 income guidance of PhP575 million on higher business volumes as the company taps more businesses in key provinces with additional funding coming from the increase in its STCP (Short-Term Commercial Paper) license from PhP15 billion to PhP25 billion.