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).
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.
About BDO Leasing
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.
About BDO Finance
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.
