BDO Leasing earns P43.6M

BDO Leasing and Finance Inc. (BLFI), a unit of the universal bank, posted P43.6 million in profit in 2021 derived mainly from fair value gain from investments in Unit Trust Investment Funds (UITF) The 2021 results were higher compared to P5.8 million earnings from a year-ago, following the restructuring of BDO Unibank Group’s leasing business. BLFI ceased to operate as a leasing company and completed the assignment and transfer of its leasing and financing business to an affiliate, BDO Finance Corp. on 19 October 2020. BDO Finance was established to offer customers continued access to lease products and services, and likewise assumed the lease transactions booked in BFLI to ensure continuity to the latter’s existing clients.