COL Financial establishes new business units

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COL Financial Group, Inc. continues to expand its financial services offerings with the establishment of three new business units.

In a disclosure to the stock exchange on Monday, the listed firm said the Securities and Exchange Commission has approved the primary registration of COL Equity Index Unitized Mutual Fund, Inc., COL Cash Management Unitized Mutual Fund, Inc. and COL Investment Management, Inc.

The company did not disclose further details on their specific functions.

Incorporated in 1999 originally as, Inc., COL Financial’s core interest is in the brokerage and/or dealership of securities, while also providing stock brokerage services through the internet.

The company had more than 313,000 clients by the end of June, 14% higher year on year. Client equity also grew 12% to P78.7 billion.

COL Financial’s net income attributable to the parent registered flattish growth at P326.03 million in the first half of 2019, amid a slight decline in gross revenues to P611.51 million in the same period.

Shares in COL Financial dropped 0.11% or two centavos to close at P18.58 each at the stock exchange on Monday. — Arra B. Francia