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Nov 10, 2017 @ 18:41

BDO Leasing income slips amid higher operating costs

 

The double-digit increase in lending did not lift the company’s performance.

BDO Leasing and Finance, Inc. booked a P406 million net income from January-September, down from the P425 million it made a year ago.

The financing subsidiary of BDO Unibank, Inc. attributed the lower profits to higher funding costs, which came despite a 9% increase in gross revenues to hit P2.3 billion. Its loan portfolio even clocked a 13% growth to amount to P34 billion for the nine months ending September.

Bilyonaryo Henry Sy’s leasing arm extends financing and leaseback deals for client, particularly through BDO Rental Inc.

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