CARD LFC joins list of top finance and leasing companies in the country
CARD Leasing and Finance Corporation (CARD LFC), a member institution of CARD Mutually Reinforcing Institutions (CARD MRI), joined the top finance and leasing companies in the Philippines.
In the survey conducted by Philippine Financing Association (PFA), among its members for year 2015, CARD LFC ranked No.20 in terms of asset; No.18 in gross income; No. 17 in net income; No. 22 in paid-up capital, No. 22 in equity; No. 20 in total liabilities; No. 22 in loans and other receivables; and No. 17 in lease receivables. Overall, CARD LFC landed in the top 20 finance and leasing companies in the country.
PFA is the largest and longest-running organization in the country composed of companies with license or authorization to operate as leasing and finance. PFA has a membership of more than 60 finance and leasing companies holding Quasi Bank and Non-Quasi Bank license mostly based in Metro Manila. Some of the big names in the membership includes Metrobank Card, ORIX Metro, Land Bank Leasing, PNB Leasing, UCPB, Toyota Financials and BDO LFI.
CARD LFC was elected as one of PFA’s Member of the Board of Directors represented by CARD LFC President and CEO Julius Adrian Alip. According to Alip, “I think CARD LFC was voted and given the privilege to represent medium-sized finance companies because it belongs to the CARD MRI group, which is a social development organization that have gained respect from the Philippine finance sector through the years.” CARD LFC only became a member of the PFA in the year 2015.
“Aside from the recognition from the PFA, CARD LFC’s biggest achievement is to see our clients improve their lives together with their families and communities. Their success reflects CARD LFC’s strong commitment to help them get out from poverty,” said CARD LFC Deputy Director Rodessa Burgos. CARD LFC is part of the mission of CARD MRI in eradicating poverty in the country. It aims to support micro-entrepreneur clients of CARD MRI who are ready to venture into bigger enterprises and other entrepreneurs with mission-oriented enterprises through CARD LFC’s quality leasing and affordable financing services.
CARD LFC, in collaboration with CARD-Business Development Service Foundation (CARD-BDSFI) and other CARD MRI group, ensures acceleration in the development of micro-entrepreneurs’ enterprises. They also support MSMEs that could increase job/livelihood generation in the country and create developmental impact on depressed rural areas. One of their efforts is the financing of social enterprises who provides safe drinking water to the communities, solar powering of barangays and integration of producers in the the value chain resulting to market access.
“Though unprecedented, we take pride of this accomplishment. CARD LFC is only a three-year old leasing and finance institution and still has a lot to learn from the best in the industry. This accomplishment is our fuel to strive harder for our clients,” said Alip.