BDO Leasing earns P90 M in 3 months

BDO Leasing and Finance Inc. earned P90 million in the first quarter of the year, lower than the P144 million income in the comparative period last year, the company said in a statement.

It said while gross revenues rose by four percent year-onyear as lease and loan portfolio went up by five percent, these were offset by higher funding, operating and credit costs.

In a rising interest rate environment, the increase in yields tends to lag behind the increase in funding costs.

Moving forward, the company said it will continue to lever- age on its parent company BDO Unibank’s extensive market reach, strengthen its provincial presence to penetrate untapped markets and support the growth sectors in the economy.

BDO Leasing is the leasing and financing entity of BDO Unibank which provides its customers direct leases, real estate leases, sale and leaseback arrangements as well as receivables factoring. It likewise provides operating leases through its wholly owned subsidiary BDO Rental Inc. BDO Leasing is among the industry’s dominant players in terms of total assets, capitalization and profitability.