One of the country’s leading financing companies experienced unprecedented growth in 2023, with revenue increasing by 23 percent, reaching a record-breaking P2.62 billion. Amidst the challenging landscape, it remains steadfast in its commitment to supporting SMEs.
Growth begets growth. As the Philippine economy expands, a growing number of businesses, in turn, seek the service of lending and financing firms to further fuel their growth and development.
This is evident in the growth of Global Dominion, one of the country’s leading companies, in recent years. This is further underscored by its robust growth. Amidst a challenging economic landscape, it remains steadfast in its commitment to supporting SMEs.
According to its finance officer-in-charge, Tom Laderas, Global Dominion’s revenue surged by an impressive 23 percent compared to the previous year, reaching a record-breaking P2.62 billion. This phenomenal growth was fueled by strategic initiatives focused on expanding customer base, breaking into new markets and enriching its product portfolio.
Global Dominion invested in talent acquisition, increasing its presence through branch expansions and intensified marketing efforts, which contributed to its sustained profitability throughout the 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 sturdy, enabling it to support growth initiatives and drive further expansion. Its non-performing loans accounted for only 0.9 percent of total net loan receivables, showcasing the financial strength and timely payment capabilities of its clients.
Global Dominion’s expected credit loss percentage decreased from 1.7 percent in the previous 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 firm maintains the flexibility to pursue additional external funding opportunities.
In line with Global Dominion’s vision, it allocated P391 million towards salaries and employee benefits. Furthermore, the company demonstrated its unwavering commitment to regulatory 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, with a remarkable double-digit growth in net income in the first quarter of 2024 and new loan bookings totaling P2.337 billion from January to April 2024,” Laderas said.
Global Dominion president and managing director Patricia Poco-Palacios added, “Through disciplined execution, strategic investments and a steadfast focus on delivering value to our customers, employees and shareholders, we are well-positioned to achieve sustained growth and success in the years to come.”
Global Dominion has been lending and financing since 2003 and has expanded to more than 100 locations nationwide. Its purpose is to ignite and accelerate growth of people and organizations to transform lives for the better.
Visit gdfi.com.ph for more information.
