|
THE Securities and Exchange Commission (SEC) has approved the
application to change the corporate name of PCI Leasing and Finance,
Inc. to BDO Leasing and Finance, Inc., according to Banco de Oro (BDO).
PCI Leasing is a unit of Equitable PCI Bank,
which BDO earlier acquired.
BDO said PCI Leasing had revenues of P1.24
billion last year, or 18 percent higher than the previous year. The
leasing company’s total loans and leasing portfolio levels reached
P9.6 billion, which BDO attributed to the intensified marketing
efforts and expedient loan processing.
BDO said the unit continued to have the highest
approved ceiling for short-term commercial papers (STCP) in the
financing industry, particularly with the recent approval by the SEC
of an increase in its STCP license to P2 billion.
BDO said the Philippine Ratings Services Corp. (PhilRatings)
maintained a “Best Grade” rating of PRS1 for this STCP issuance.
-- Katrina Mennen Valdez
|
