Edward Lee’s financial literacy campaign pays off as COL’s client base grows steadily
Leading online stockbrokerage COL Financial managed to grow its customer base by a fifth in the first nine months of the year despite a volatile trading environment.
Businessman Edward Lee’s COL increased the number of customer accounts for its Philippine operations by 20.3 percent to 196,026 as it continued to benefit from heightened interest among Filipinos to invest outside of the traditional fixed-income instruments given a low interest rate regime.
“COL’s client base continued to grow as it remained active in educating and encouraging Filipinos to save and invest,” the online stock trading portal said.
Net equity of customers sustained its upward trajectory, growing by 30 percent to P62.3 billion. This included net new cash inflow amounting to P4.9 billion in the first nine months of the year.
The stockbrokerage house saw a 23.4 percent jump in net income to P322.9 million as of the end of September as revenues rose 12.8 percent to P658.7 million.
Commission revenues from COL’s domestic operations expanded by 32.8 percent as the market share in terms of value turnover improved to 5.9 percent from 3.9 percent.