Wednesday, November 25, 2020

BDO Leasing Earns P135 Million In 9M 2020

BDO Leasing Earns P135 Million In 9M 2020

Spotlight

Legislators Take Steps To End Child Marriage In The Philippines

Because of the increasing cases of child marriage in the last 6 months, Philippine legislators have recently united to end child marriage in the country.

Tanza Receives School Building From SM

SM Prime, through SM Foundation, formally turned over a two-story, four-classroom school building to Punta Elementary School (PES) in Tanza, Cavite on November 20, 2020

Amid Rising Suicides, A Province Acts To Bolster Mental, Emotional Health

Iloilo province’s “Isip Kalasag” initative aims to combat the rising cases of suicide in Iloilo by “developing, training and capacitating mental health warriors."

World Vision Relief Ops To Cagayan And Isabela Underway

World Vision continues its various relief efforts for communities in Cagayan and Isabela province that have been severely affected the recent typhoons.

BDO Leasing and Finance, Inc. (BDO Leasing) recorded P135 million in net income for the first nine months of 2020, reversing the P39 million loss in the comparative period last year largely due to lower interest and financing charges.

Total expenses declined by 18 per cent to P1.9 billion, on reduced borrowings and lower funding costs, with interest and financing charges dropping by 55 per cent given the low interest rate environment.

Meanwhile, gross revenues fell by five (5) per cent to P2.1 billion on lower interest income following the sale of BDOLF’s assets, covering lease receivables and other assets, to the BDO Unibank Group as part of the restructuring of the Group’s leasing business.

Earlier this year, BDO Unibank disclosed that it was selling its controlling stake in BDOLF to a third party. The transaction is still subject to regulatory approvals and the fulfillment of closing conditions.

While BDO has sold its controlling stake in BDOLF, it will continue to provide leasing and finance products to its clients through its wholly-owned, privately-held subsidiary, BDO Finance Corp. (BFC).

Latest News

Legislators Take Steps To End Child Marriage In The Philippines

Because of the increasing cases of child marriage in the last 6 months, Philippine legislators have recently united to end child marriage in the country.

Tanza Receives School Building From SM

SM Prime, through SM Foundation, formally turned over a two-story, four-classroom school building to Punta Elementary School (PES) in Tanza, Cavite on November 20, 2020

Amid Rising Suicides, A Province Acts To Bolster Mental, Emotional Health

Iloilo province’s “Isip Kalasag” initative aims to combat the rising cases of suicide in Iloilo by “developing, training and capacitating mental health warriors."

World Vision Relief Ops To Cagayan And Isabela Underway

World Vision continues its various relief efforts for communities in Cagayan and Isabela province that have been severely affected the recent typhoons.

Historic Iloilo City Plaza To Get New Look Next Year

Iloilo’s historic Plaza Libertad will have a new look before 2021 ends!

3,500 Villagers Targeted For Mass Covid-19 Testing In Cagayan

Priority targets include families with active cases, flood victims, front-liners, health workers and responders.

Borongan City Farmers Get 800 Sacks Of Quality Rice Seeds

A total of 800 sacks will be distributed o early planters in Borongan City in Eastern Samar.

Holding Of Misa De Gallo Depends On IATF Decision: Labella

Will the traditional Misa de Gallo be also cancelled due to the existing curfew policy in the city?

House Approves BFP Modernization Bill On Final Reading

Expect a better and modernized Bureau of Fire Protection as the House approves on final reading House Bill 7406.

PRRD Hails Saudi Removal Of Restrictions On Foreign Laborers

Good news! Under the LRI, foreign workers in Saudi Arabia will be allowed to transfer to another employer without the current employer’s consent upon contract expiration.