BDO Leasing still Philippines’ industry leader

BDO Leasing’s total revenues in 2008 climbed 10.18 percent to US$28.9 million to maintain its leadership in the Philippine financing industry.The company’s Operating Revenues grew by 25.2 percent to US$11.2 million, while Net Income increased 7 percent to US$7.7 million.A BDO Leasing statement attributed its growth amid economic softening on its client’s increased dependence on the company."The clients of BDO Leasing increasingly relied on us for business support," noted BDO Leasing President Roberto Lapid at the stockholders’ meeting held on 1 June 2009. "Apparently, clients were encouraged by the fact that we have the biggest capitalisation of P4.5 billion (US$95.14 million)," he added.Total Assets grew 10.14 percent in 2008 to US$219.89 million, the largest in the industry.The impressive performance of its wholly-owned subsidiary BDO Rental, Inc. contributed to BDO Leasing’s growth as well. BDORI contributed a Gross Income of US$6.47 million, a 299 percent jump over the past year. Total Assets soared 422 percent to US$37 million over 2007 levels, while net income increased 148 percent to US$1.54 million.Further boosting BDO Leasing’s performance was the Securities and Exchange Commission’s approval to increase its STCP license to US$84.57 million, the highest approved ceiling for short-term commercial papers or STCP in the financing industry. The SEC also gave a high rating of PRS2 for its STCP issuance, which Lapid said "reflected its confidence in the company’s above-average capability to pay both principal and interest." He said the company was conferred this rating "in consideration of the quality of our loan/lease portfolio, the absolute size of our capital and the vigorous support of our parent, BDO."Lapid ascribed BDO Leasing’s growth to its beefed-up personnel complement in strategically located branches. He added that while BDO Leasing expanded operations, it did so prudently. "We managed risks by regularly reviewing our loan and lease portfolio mix to monitor exposure to various industries and made sure that credit approval limits and policies were complied with," he added.

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