BDO Leasing profit down at end- Sept.

BDO LEASING and Finance, Inc. (BDO Leasing) booked a slightly lower net income amid an uptick in funding costs.

In a statement disclosed to the Philippine Stock Exchange on Thursday, the Sy-led BDO Leading said it saw a 4% decline in its net income to P406 million in the first nine months, from P425 million in the comparable period last year.

BDO Leasing recorded gross revenues of P2.3 billion, up 9% from the previous year.

Its net lease and loan portfolio, meanwhile, booked a 13% increase, amounting to P34 billion.

In the same statement, BDO Leasing said it will continue to strengthen its marketing efforts in emerging provincial areas while leveraging the broad market reach of its parent company to extend its services.

“Additionally, the company intends to expand and optimize its funding sources to match its asset growth and manage its funding,” it said.

Shares in BDO Leasing closed at P3.84 apiece on Thursday, down by two centavos or 0.52% from Wednesday’s finish of P3.86 each.