BDO subsidiary’s 1H 2023 net profit at P125.3 million
2023 August– Dominion Holdings, Inc. (formerly BDO Leasing & Finance, Inc. or BLFI) reported net earnings of ₱125.3 million in 1H 2023 as against ₱3.7 million in 1H 2022. Gross income increased more than six-fold to ₱162.3 million as the firm reallocated its funds to higher yielding investments and debt securities to capitalize on the prevailing attractive interest rates.
Total resources settled at ₱6.3 billion, majority of which was accounted for by short-term investments. Total Stockholders’ Equity improved to ₱6.25 billion, derived primarily from net profits.
Dominion Holdings’ primary purpose is to hold/own real estate properties, securities/shares of stocks, and other assets of other companies, and engage in investment and business activities involving these assets.
On July 21, 2022, the Company obtained SEC approval dated July 18, 2022 for the change in corporate name of BDO Leasing and Finance Inc. to “Dominion Holdings, Inc.”, the shift in primary and secondary purposes from a leasing and financing company to that of a holding company, and the corresponding amendments to the Company’s Articles of Incorporation and By-laws.
As an investment holding company, Dominion Holdings will have more flexibility in pursuing business opportunities that can enhance shareholder value for its stockholders.
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