BDO Leasing registers slight drop in Q2 bottom line

BDO Leasing & Finance Inc. on Thursday reported a slight drop in second quarter bottom line, on the back of higher interest rates that constricted margins.

Net income fell to P137.7 million in April to June, from P137.9 million a year earlier, BDO Leasing said in a regulatory filing.

Expenses rose to P587.5 million from P518.4 million in the same comparable period, while income grew to P766.4 million from P705.3 million.

The latest figures brought the first half net income of BD Leasing to P281.7 million from P281.6 million year-on-year.

Expenses in the first six months climbed to P1.143 billion from P1.024 billion, while income grew to P1.520 billion from P1.407 billion.

"These results were flat compared to the same period last year as rising interest rates caused a contraction in margins, and offset the benefits of volume growth," the company said. — Jon Viktor Cabuenas/VDS, GMA News