Visible increase in financing in the Philippines

MORE businesses continued to turn to lending and finance companies to fund their growth and development. This was evident in the rise of Global Dominion, a financial firm that has demonstrated solid financial performance in recent years in the face of a challenging economic landscape and remained steadfast in its commitment to supporting small and medium-sized businesses. Chief Financial Officer Tom Laderas said Global Dominion’s revenue grew an impressive 23 percent year-on-year, reaching a record PHP2.62 billion. This phenomenal growth was fueled by strategic initiatives focused on expanding its customer base, entering new markets, and enriching its product portfolio.

Global Dominion invested in talent acquisition, increased presence through branch expansion and increased marketing efforts, which helped maintain healthy profitability in recent years. This was reflected in an operating profit margin of 22 percent, leading to a net operating income of P518 million.

Its cash flow remained stable, allowing it to support growth initiatives and fuel further expansion. Its non-performing loans accounted for just 0.9 percent of total net loan receivables, demonstrating the financial strength and timely payment capabilities of its customers. Global Dominion’s expected credit loss, or ECL, fell from 1.7 percent in the prior year to 1.12 percent in 2023, underscoring its commitment to prudent risk management. With debt-to-equity ratios remaining below financial covenants at 3.19 times, the financing company retained the flexibility to seek additional external financing options.

In line with Global Dominion’s vision, it committed P391 million for employee salaries and benefits. Additionally, the company demonstrated its unwavering commitment to compliance and community support by paying a total of P488 million in national and local taxes.

“Looking ahead, we are optimistic about the future of our operations given the remarkable double-digit growth in net income in the first quarter of 2024 and new loan bookings totaling PHP2.337 billion from January to April 2024,” Laderas stated.

Global Dominion Chairman and CEO Patricia Poco-Palacios said, “Through disciplined execution, strategic investments and a continued focus on delivering value to our customers, employees and shareholders, we are well-positioned to achieve sustainable growth and success for years to come.”

Global Dominion has been lending and financing since 2003 and has expanded to over 100 locations nationwide. Its purpose was to ignite and accelerate the growth of people and organizations to change lives for the better.

For more information, visit gdfi.com.ph.