BDO Leasing posts net profit

BDO Leasing and Finance, Inc. disclosed a net income of R406 million in the first nine months of 2017, slightly lower than the R425 million earned in the comparable period last year. While gross revenues went up by nine per cent to R2.3 billion, higher funding costs offset the impact of the 13 per cent hike in net lease and loan portfolio to R34 billion. “Moving forward, the company will continue to strengthen its marketing efforts in emerging provincial areas while leveraging on its Parent Company’s broad market reach to extend leasing and financing services to the growth sectors of the economy,” the firm said. Additionally, the company intends to expand and optimize its funding sources to match its asset growth and manage its funding. (JAL)