BDO Leasing And Finance Hauls In ₱43.6 Million In 2021
BDO Leasing and Finance, Inc. (BLFI) posted P43.6 million profit in 2021 derived mainly from fair value gain from investments in Unit Trust Investment Funds (UITFs).
Photo Insert: BLFI is a listed holding company of BDO.
The 2021 results were higher compared to P5.8 million earnings from a year ago, following the restructuring of BDO Unibank Group’s leasing business.
BLFI ceased to operate as a leasing company and completed the assignment and transfer of its leasing and financing business to an affiliate, BDO Finance Corporation on October 19, 2020.
BDO Finance was established to offer customers continued access to lease products and services, and likewise assumed the lease transactions booked in BFLI to ensure continuity to the latter’s existing clients.
BDO Leasing and Finance Inc. (BLFI) used to be the leasing and financing entity of BDO Unibank, Inc. (BDO). Following the Company’s restructuring in 2020, BLFI’s assets were transferred to other entities of the Parent Bank, leaving BLFI as a listed holding company of BDO.
BDO Finance Corporation (BFC) is a privately-held, wholly-owned financing company of BDO Unibank, Inc. (BDO) that provides direct leases, sale and leaseback arrangements, mortgage lending and factoring services.
BFC assumed the lease transactions booked in BDO Leasing which underwent restructuring in 2020, thus ensuring continuity to BDO Leasing’s existing clients.