By James A. Loyola
COL Financial Group, Inc. (COL), the country’s leading online stock and mutual fund platform, posted a 15.3 percent growth in net income to a new record high of P379 million in 2017.
The firm said its revenues improved 16.4 percent to P970 million as all key areas of the business showed healthy growth last year.
Commission revenues, in particular, saw a robust increase, helped by positive market conditions and by COL continuing to provide investment guidance to its clients.
The company said its strong performance for the year would not have been possible if not for the continuous growth of its client base.
As of end-2017, COL had 249,000 or nearly a quarter of a million accounts, showing a 21 percent growth from 205,000 in 2016.
COL was able to achieve this growth due to the steady stream of referrals from existing clients, as well as through the establishment of new investor centers outside Metro Manila, namely in Davao, Cebu, and Ilocos.
“We are happy to end the year serving almost a quarter of a million investors. We will continue to find ways to empower Filipinos so they can take control of their financial future, by providing them the optimal investing experience and by guiding them all throughout their entire investment journey,” said COL Financial President Dino Bate.
COL’s average daily value turnover in the Philippine Stock Exchange (PSE) also jumped to a new record of R1.0 billion, its 17.1 percent growth outperforming the PSE’s growth of 4.9 percent.
The company’s market share likewise increased to 6.3 percent in 2017 from 5.6 percent in 2016, marking the company’s third consecutive year of achieving a record market share.
In terms of value turnover for local investors, COL’s market share rose to a new high of 13.1 percent compared to 11.9 percent by end-2016.
In addition, COL’s total client equity reached a new record level of P73.1 billion, or a 23 percent increase compared to 2016.
This jump in client assets was driven by improved portfolio values, and by the company’s retail investors who continue to trust COL with their money as they build their wealth.