At its Annual Stockholders’ Meeting today, Vice Chairman and Officer-in-Charge Roberto E. Lapid reported that BDO Leasing and Finance Inc. (BDO Leasing) earned P420.3 million in 2013 compared to P410.7 million in 2012. 

The results were supported by a higher loan and lease portfolio which increased 22 percent to P20.98 billion, coming from key industries such as mining, construction, real estate and health care and medical sectors.

While portfolio growth was strong, the impact on bottomline was tempered by margin compression from excess system liquidity, which moderated revenue growth to 8 percent. 

For the first quarter of 2014, BDO Leasing announced a net income of P121.4 million, up by 6 percent year-on-year from the P114.7 million in the comparable period last year. Driving growth was the continued expansion in the portfolio, with loan and lease portfolio up by 33 percent to P22.1 billion.  This resulted in a 13 percent increase in revenues to P533.8 million from P471.3 million.

With the healthy first quarter results, BDO Leasing is on track to meet its full-year 2014 guidance of P440 million. 

About BDO Leasing 

BDO Leasing and Finance, Inc. is a subsidiary of BDO Unibank, Inc. (BDO). It has an established track record of service and innovation in the leasing and finance industry and is a recognized leader in the market it serves.