Among the 49 participating companies, CARD Leasing and Financing Corporation (CARD LFC) takes the 14th spot with the highest net income after tax and places 22nd with the highest gross income in the Philippine Finance Association’s (PFA) Survey on Financial Performance conducted earlier this year.
Established in 1962, the PFA, comprised of finance and leasing companies in the country, aims to develop innovative financial products and services for the betterment of the country.
“Ranking 14th was something we never expected. Regardless, CARD LFC welcomes the recognition as this proves our growth in terms of the quality of our services to our clients,” CARD LFC President Frederick Nicasio M. Torres said as he recognizes the leasing corporation’s achievement. As of December 2021, CARD LFC has more than 6,500 clients, doubling more than what they had the year before. “This also reinforces the company, as this shows that we are providing our clients with the right financing and credit access,” he added.
Besides doubling the number of clients served by more than 100%, CARD LFC had an improved repayment rate from last year’s 90% to this year’s 97%. Repayment rate refers to how often someone pays based on the lender’s loan terms.
The increase of performance of the CARD’s leasing and financing institution may also be attributed to their technological innovations, one of which is their online loan application via Facebook. Assisted by a chatbot, interested applicants may message their official Facebook where they can apply for loans and be immediately released.
Holistic approach
Torres also mentioned that CARD LFC’s holistic and hands-on approach to their clients drives the good performance of the institution. “Whenever our clients have concerns, we respond personally to help them address their needs. We also refer them to CARD MRI’s institutions to help them expand their businesses. We know our clients by heart, and we focus on each one of them.”
CARD MRI Managing Director Aristeo A. Dequito congratulates CARD LFC’s progress. “The growth of CARD LFC despite the pandemic shows that CARD MRI will always find a way to be of service to our communities. Staying true to their mission of providing the best leasing and financing services in the most affordable way, CARD LFC’s achievement is proof that at CARD MRI, we keep in mind our clients’ best interests.”
Since its inception in 2013, CARD LFC has provided leasing and financing services such as start-up, vehicle, and gadget loans to clients in and outside CARD MRI. For more information on their products and services, please visit their official Facebook page, @CARDLFCOfficial.
