MANILA – BDO Leasing, a subsidiary of Banco de Oro Unibank, eyes a good performance this year given the positive developments in the country boosted by the strong economic fundamentals.

In a disclosure with the Philippine Stock Exchange yesterday, BDO Leasing and Finance Corporation president Georgiana Gamboa, said the company is optimistic on their growth this year given the strong demand for capital expenditure from the transportation, construction, mining, energy, logistics and healthcare industries.

She explained that recent positive developments on the economy “would mean leasing opportunities through its extensive portfolio of equipment or machineries.”

"The progress of these core sectors would drive the need for leasing of equipment. We also look forward to the implementation of the government's infrastructure projects from which our existing clients are already experiencing a boost in business," Gamboa said.

Last year, BDOLF posted a 22 percent growth in lease and loan portfolio after it ended 2011 with over P14 billion.

Also, the BDO subsidiary’s total assets amounted to about P18 billion last year while net profit ended the year at P304 million.

Gamboa attributed her optimistic view on their business this year to among others the money being sent home by Filipinos abroad, which is the main driver of consumer spending, thus, the economic growth.

“The continued strong remittance from the OFWs (Overseas Filipino Workers), bulk of which, goes to the real estate and healthcare sectors, would likewise cascade down to clients' need for leasing of equipment,” she said.

Inflows from overseas Filipinos continue to surpass the government’s five percent target for the whole of 2012.

Recently, the Bangko Sentral ng Pilipinas reported that remittances as of last February expanded by 5.6 percent year-on-year after it totaled to $3.14 billion, up by the $2.98 billion same period in 2011.*PNA

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