Monday 18 February
Feb 24, 2018 @ 11:25

BDO Leasing eyes provinces for expansion

 

The bank is setting its sights on a bigger market so that profits grow.

BDO Leasing and Finance, Inc. booked a P570 million net income in 2017, steady from its year-ago performance.

In a disclosure, the retail financing unit of bilyonaryo Henry Sy reported that gross revenues grew by 11 percent to P3.2 billion, with total lease and loans reaching P34.3 billion. However, bigger operating costs offset these gains.

For 2018, BDO Leasing wants to broaden its reach to rake in more earnings from property rentals and leaseback arrangements.

“Moving forward, the Company will continue to leverage on its Parent Company?s extensive market reach and intensify its provincial thrust to tap fast-growing and rapidly urbanizing areas outside Metro-Manila,” the leasing firm said.

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