BDO Leasing earns M in H1

BDO Leasing and Finance, Inc. (BDO Leasing) posted a net income of R282 million in the first six months of 2017, a steady performance compared to-year-ago. Total assets grew by 16% to R42 billion, driven by the 16% growth in gross loan and lease portfolio to R33 billion. While gross revenues went up by eight percent to R1.5 billion, competitive pressures affected margins and tempered bottomline performance. The company was granted authority by the Securities and Exchange Commission (SEC) to issue R25-billion STCPs (ShortTerm Commercial Papers). This funding program will allow BDO Leasing to tap more businesses in provincial growth areas as well as support the financing and leasing requirements of local industries in its target markets.