BDO Leasing posts P252 million net income in 2020

2021 March – BDO Leasing and Finance, Inc. (BDOLF) registered P252.3 million profit in 2020 from P46.8 million in 2019 on the back of stable asset yields and lower funding costs.


Total expenses dropped by 34% to P2.0 billion, with interest and financing charges substantially declining by 62% given the low interest rate environment and lower borrowing levels.


Meanwhile, gross revenues fell by 22% to P2.4 billion with the decrease in interest income as the Company’s operations were scaled down following the sale of most of BDOLF’s earning assets to the BDO Unibank Group (BDO).


This was part of the restructuring of the Group’s leasing business where the operations of BDOLF fully transitioned to BDO Finance Corporation (BDO Finance), which was established last year to offer customers continued access to lease products and services. BDO Finance likewise assumed the lease transactions booked in BDOLF to ensure continuity to the latter’s existing clients.


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