BDO Leasing and Finance Inc. reported on Friday that its net income decreased to P331 million last year on “higher funding costs.” In a disclosure, the BDO unit said the amount was a 41.9-percent drop from P570 million in 2017. “Higher funding costs, due to the increase in market interest rates, and increased documentary stamp taxes implemented under the Train (Tax Reform for Acceleration and Inclusion) law, adversely impacted on bottom line performance,” it explained. BDO Leasing’s gross revenues went up by 2 percent to P3.2 billion, while its net loan portfolio was steady at P34 billion. Shares of BDO Leasing rose by 1 centavo or 0.44 percent to close at P2.26 apiece on Friday.
