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Wednesday, December 11, 2019
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COL client base, equity up double-digits in H1

LISTED COL Financial Group saw its client base and equity expand in the first half of 2019 on the back of “steady” client referrals and better online presence.

In a disclosure on Tuesday, the online stock broker said its client base rose by 14.5 percent to more than 313,000 accounts in the first six months from 273,783 accounts in the same period last year.

Client equity, meanwhile, surged by 12 percent to P78.7 billion as of end-June from P71.57 billion year-on-year.

“Both…client base and equity expanded further as Filipinos continued to place their trust in the company as their partner in creating wealth,” COL said.

“Despite having a larger base of customers, the growth in new clients remains steady as existing clients continue to refer COL’s service and as the company increases its presence online and in more key cities throughout the country,” it added.

The number of clients purchasing mutual funds through the COL Fund Source grew by 22.2 percent to 39,880 in the first semester.

The listed firm saw “consistent” growth in its investor base under the said platform as more clients sought mutual funds as an alternative or complement to stocks.

In the first semester, COL saw its consolidated net income drop by 2.44 percent to P314.33 million from P322.20 million a year ago.

Net income attributable to the parent equity holder dipped by 0.23 percent to P326.03 million in the first six months from P326.79 million year-on-year.

Consolidated revenues fell by 0.61 percent to P611.5 million as of end-June from the year-earlier P615.28 million.

COL shares ended flat at P18.20 each on Tuesday.

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Today’s Front Page December 11, 2019

Today’s Front Page December 11, 2019