MORE businesses continued to seek the service of lending and financing firms to fund their growth and development. This was apparent in the growth of Global Dominion, a financing company, in recent years that demonstrated robust financials amid a challenging economic landscape and stayed steadfast in its commitment to supporting small and medium enterprises. Finance Officer in Charge Tom Laderas said the revenue of Global Dominion has 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 the customer base, breaking into new markets and enriching the product portfolio.
Global Dominion invested in talent acquisition, increasing presence through branch expansion and intensifying marketing efforts, which contributed to its sustained healthy 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 nonperforming 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 or ECL 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 maintained the flexibility to pursue additional external funding opportunities.
In line with Global Dominion's vision, it allocated P391 million toward 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 stated.
Global Dominion President and Managing Director Patricia Poco-Palacios said, "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 was to ignite and accelerate the growth of people and organizations to transform lives for the better.
Visit gdfi.com.ph for more information.
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