BDOLF targets to grow loans and profits in 2011

BDO Leasing and Finance, Inc. (BDOLF) will look for ways to widen its loan portfolio amid a stable outlook on the economy this year.

Online PR News – 01-June-2011 – – At the sidelines of the company’s annual stockholders’ meeting Monday, its president Georgiana Gamboa said they will continue to find the niche markets and support clients whose needs remain unserved by banks. In particular these are markets that need the Factoring of Receivables and Leasing products.

“Right now our products and services are extended to different provinces and key cities by virtue of the extensive Banco De Oro (BDO) branch network, which are strategically located all over the country. Because of this, clients are able to enjoy the same products and services wherever they may be. The plan is to further expand our geographical coverage to reach out to more clients,” she said.

Gamboa also said serving the corporates and customers from the SME (small medium enterprise) segment will likewise remain one of BDOLF’s priorities, as it improves on its platform to accommodate a more dynamic transaction environment.

BDOLF’s loan and lease portfolio as of December 2010 amounted to P14.6 billion, up 28 percent from the previous year. The company’s financial standing also continued to be strong, posting a net profit of P309 million and revenues of P2.04 billion at the end of 2010. BDOLF still remains the best capitalized among the local financing companies with stockholders equity of P4.5 billion. This is more than sufficient to support businesses if and when they need financing.

Its stable performance was sustained in the first quarter of 2011, with its net profit increasing to P70.7 million from the same period last year. BDOLF targets a double-digit growth in its net profit for the full year of 2011.