Edward Lee’s COL boasts record profit
Leading online brokerage firm COL Financial Group Inc. wrapped up 2017 with its highest ever profit in its history.
COL grew its net ncome by 15.3 percent to P379 million on the back of a 16.4 percent jump in revenues to P970 million.
It continued to attract new clients, reaching 249,000 as of the end of December last year. This represented an increase of 21 percent from 205,000 clients in 2016 largely due to the steady stream of referrals from existing customers
The establishment of new investor centers in Davao, Cebu, and Ilocos also helped boost COL’s client base.
“We are happy to end the year, serving almost a quarter of a million investors. We will continue to find ways to empower Filipinos so they can take control of their financial future, by providing them the optimal investing experience and by guiding them all throughout their entire investment journey,” said Dino Bate, president and CEO of COL.
COL’s average daily value turnover surged by 17.4 percent to a record P1 billion, outperforming the Philippine Stock Exchange which grew 4.9 percent.
Its market share In terms of value turnover for local investors rose to a new high of 13.1 percent versus 11.9 percent
Total client equity likewise reached a record P73.1 billion, marking an increase of 23 percent year on year.
Despite being a relatively new business, COL’s fund distribution business contributed P10.6 million in revenues, nearly double the P 5.7 million booked in 2016.