Banco De Oro Leasing and Finance Inc. (BDO Leasing), a wholly-owned unit of Banco De Oro Unibank Inc., saw an increase in net profits for the first six months of the year on higher loan and lease uptake.
In a disclosure, the company said they posted P250.8 million net income in the first half of the year, which is a 23-percent improvement over the same period last year.
BDO Leasing said its lease and loan portfolio primarily drove the company’s midyear net income.
“The growth was on the back of the 26 percent increase in lease and loan portfolio to P21.6 billion as BDO Leasing continued to provide custom made solutions to meet the requirements for both retail and corporate customers,” the company disclosure said.
The company will continue to focus on growth areas and utilize its extensive network to maintain its position as a leading provider of leasing and financing services, it added.
Incorporated in 1981, BDO Leasing is a listed unit of BDO Unibank, in charge of the group’s leasing and financing unit.