DHI’s net profit surges to P277.3M

February 22, 2024

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DOMINION Holdings, Inc. (DHI) saw its net income surge in 2023 as the company rebalanced its investment portfolio.

DHI’s net earnings stood at P277.3 million last year, up by 301.4% from P69.3 million in 2022, it said in a disclosure to the stock exchange on Thursday.

Its financial statement was unavailable as of press time.

DHI, formerly known as BDO Leasing and Finance, Inc., saw its gross income rise by 171.06% to P343.7 million in 2023 from P126.8 million the previous year “due to the rebalancing of its investment portfolio towards higher-yielding placements and debt securities,” it said.

Meanwhile, total resources stood at P6.38 billion. Its resources were made up mostly of investment securities, it said.

Stockholders’ equity increased to P6.37 billion, DHI added.

DHI’s parent BDO Unibank, Inc. booked a net profit of P18.7 billion in the third quarter of 2023, up by 16.5% year on year, amid higher interest income and lower provisions. — AMCS