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COL Financial Group, Inc. reports P335 million net income in 2011

The year 2011 was another banner year for leading online stockbroker COL Financial Group, Inc. (COL), formerly known as CitisecOnline.com, Inc., as it posted record-breaking profits, driven by the strong performance of its Philippine operations. Consolidated net income jumped by 30% to PhP335 million. The record profit was driven by the strong growth in COL's trading revenues, as it cornered a greater share of the local market, steered by the company's efforts to grow and diversify its client base.

Revenues grew by 34% Y/Y to PhP659 million as Col Financial Group, Inc. Philippine operations posted an 89% Y/Y rise in commissions resulting from increased trading activity from its diverse customer base. Philippine commissions now account for 50% of total revenues versus only 35% last year. Interest on margin loans also grew by 77% Y/Y and now accounts for 22% of revenues from only 17% in 2010. "Overall, our Philippine operations account for 82% of our total revenues versus 60% in 2010 as stated by Dino Bate, President & CEO of COL Financial Group, Inc.

Col Financial Group, Inc. (COL) attributes its strong performance of its local business to the rapid growth of its customer base by 42% to over 28,000 customers, coupled with increased trading activity supported by the low interest rate environment and the robust Philippine economy. "Out commitment to educate the public on creating wealth through stock market investing together with the convenience of an online trading platform have empowered more Filipinos to participate in the stock market", says Bate.

COL continues to sustain its leadership position as the number one online stockbroker in terms of customer base and the number of transactions traded in the PSE. COL accounts for over 20% of the total number of trades executed into the PSE and cornered a higher market share of 4.3% in 2011 from 2.8% in 2010, in terms of total value turnover. As a result, COL's ranking in the Philippine Stock Exchange improved from the 10th rank in 2010 to 8th rank in 2011.

In light of its record breaking profit results, COL declared PhP0.60/share in cash dividends, 50% higher year on year, to its shareholders as of record date of April 18, 2012. Payable date will be on or before May 15, 2012.

"2012 continues to be an exciting year for COL Financial Group. We will focus on scaling our business in making stock market investing accessible to all and continue to strengthen the knowledge base of our customers because ultimately, their success is our success. We will innovate in improving the overall trading experience while keeping to our tradition of personal service and expertise in the stock market, "adds Bate.

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"COL Financial Group, Inc. reports P335 million net income in 2011" was written by Mary under the Business category. It has been read 2113 times and generated 0 comments. The article was created on 30 March 2012 and updated on 30 March 2012.

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