Dominion Holdings Inc., formerly BDO Leasing and Finance Inc., said Thursday it registered a 30-percent year-on-year growth in net income to P75.9 million in the first quarter of 2024 from P58.3 million in the same period in 2023.
Gross income increased 28 percent due to the shift in its investment portfolio towards higher-yielding placements and debt securities.
Total assets, mainly composed of investment securities, reached P6.45 billion. Stockholders’ equity settled at P6.44 billion.
Dominion Holdings’s primary purpose is to hold/own real estate properties, securities/shares of stocks, and other assets of other companies and engage in investment and business activities involving these assets.
As an investment holding company, Dominion Holdings has more flexibility in pursuing business opportunities that can enhance shareholder value.