COL Financial profits rise 38% as revenue increases
COL FINANCIAL Group, Inc. announced on Monday that its net profit jumped 38% to 582 million pesos in 2021, thanks to an increase in commission income.
“While the #1 ranking is not the benchmark by which we measure our success, we believe it is a natural result of our strategy of focusing on serving our customers,” said President and CEO. from COL Financial CEO Conrado F. Bate in a statement.
“By giving our self-directed investors the tools and knowledge they need to invest wisely, this group of investors continues to become a bigger and more influential part of the country’s investment landscape,” he added. .
Meanwhile, consolidated revenues reached 1.3 billion pesos, while its client assets reached 112 billion pesos, with the company recording 6.7 billion pesos in net new flows.
The financial group said its customer base will also reach almost half a million investors by the end of 2021.
COL Financial said it benefited from increased market activity on the Philippine Stock Exchange (PSE), due to its strategy of focusing on its retail investor base.
“As a result, COL ranked as the top investment broker in the Philippines for the second consecutive year, with a record market share of 8.6%,” the company said.
On the fund distribution side, the company said it has started offering access to global funds through its platform.
“For the first time, COL clients have been able to invest in a global multi-asset fund, which has resulted in strong uptake from clients seeking investments outside of the local stock market,” he said. .
Together with its fund partners, the firm said it intends to “continue its global product expansion by adding more than 20 thematic global equity funds in the first half of 2022.”
On April 27, the company announced that it would pay P0.085 per share in cash dividends to its shareholders. Dividends equal 65% of the company’s earnings last year and are 30.7% higher than its cash dividends the previous year.
For 2022, COL Financial said it will continue its adoption of more efficient and scalable technologies, in addition to increasing its product offerings to meet the different needs of its existing and potential customers.
“Although current market conditions are more challenging than last year, we believe we will be able to weather different market environments as long as we stick to our long-term strategy of prioritizing our customers at all times,” Mr. Bate said.
Shares of COL Financial ended Monday down 1.63% or six centavos to close at P3.62 each on the stock market. — Luisa Maria Jacinta C. Jocson