Connect with us

Hi, what are you looking for?


BDOLF books P9.5 million in net earnings

BDO LEASING and Finance, Inc. recorded a net income of P9.5 million in the first quarter, purely from gains from its investments after the company’s restructuring.

“The company’s first quarter performance is not comparable to the P83.3-million profit recorded a year ago, given that last year’s results reflected business operations prior to the full implementation of the group’s restructuring of its leasing business,” the firm said in a filing with the Philippine Stock Exchange.

In the first three months of 2021, BDOLF’s investments had a fair value gain of P13.6 million. Meanwhile, total expenses hit P4.5 million.

BDOLF said it has stopped operating as a leasing company and has not been engaged in new leasing transactions since October 2020.

“The restructuring entailed the full transition of BDOLF operations to BDO Finance Corp., established in 2019 to offer customers continued access to lease products and services. BDO Finance likewise assumed the lease transactions booked in BDOLF to ensure continuity to the latter’s existing clients,” it said.

BDOLF’s book value per common share increased by 5.7% to P2.76 in the first quarter from P2.61% in the same period of 2020.

The company booked a net income of P252.3 million in 2020, surging from the P46.8 million seen in 2019 as it saw lower funding costs. — LWTN

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



Virgin Orbit’s next satellite launch will take place from the UK, following the success of the “Straight Up” mission, which lifted off from Mojave...


Post Office collection and cash delivery workers are to stage a one-day strike later this month in a dispute over pay. Members of the...


UK consumers cut back on credit card borrowing in May amid fears over rising interest rates and a slowing economy driven by a cost...


London City airport is seeking to overturn its Saturday flight ban and raise by 40% the limit on its passenger numbers. A local residents’...


The bank said that it was introducing a £1,200-a-year pay increase from August 1, which would start to show in next month’s pay packets....


Postmasters caught up in the Horizon IT scandal say that they are still being “left in the dark” about a compensation package after the...

You May Also Like


Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...


Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...


Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...


As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.