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September 24, 2023

DBP: Leading development financing amid technological and economic advancements

The Development Bank of the Philippines (DBP), a state-owned entity, stands as a pioneering force in the country’s development financing endeavors, championing funding for impactful projects aligned with the government’s goals of sustainable growth. With a seven-decade history, DBP has consistently directed resources towards priority programs in poverty alleviation, energy security, healthcare, and infrastructure development.

DBP’s unwavering commitment to its developmental mission is evident not only through its financial performance but also through its significant contributions to key sectors. The bank’s net income surged by 17 percent to P1.23 billion in the first quarter of 2023, compared to the same period in the previous year. Despite increasing credit loss provisions by P765 million, DBP exceeded its income target and achieved a four percent capital growth to P80.179 billion. Maintaining its stability as a government financial institution, the bank’s gross loan portfolio reached P547 billion, indicating steady growth.

DBP’s prowess extends beyond its financial achievements, with a strong focus on developmental lending. Operating as an Infrastructure Bank, DBP has approved P285.235 billion in loans for the infrastructure and logistics sector by March 2023, with over half allocated to the “Build Better More” program. The bank’s involvement in social infrastructure, community development, agriculture, and other sectors underscores its commitment to national growth.

Recognizing the urgency of energy sustainability, DBP actively supports the government’s efforts to boost renewable energy generation. Through its Financing Utilities for Sustainable Energy Development (FUSED) program, the bank has directed more than P78.489 billion toward energy-related investments, contributing to the goal of achieving a 35 percent RE share in the power generation mix by 2030.

DBP’s commitment to social welfare is evident through partnerships that address the needs of marginalized populations. Collaborating with the Department of Human Settlements and Urban Development, the bank facilitates affordable housing for informal settlers. It also supports healthcare advancements, including a P400-million funding for the construction of a Level-2 hospital, bolstering healthcare access.

As DBP celebrates its 76th year, its proactive approach to development financing stands as a beacon of progress, resonating with its mandate and the nation’s socio-economic aspirations.


Three rural banks merge to enhance financial stability

Three rural banks have successfully merged in a move aimed at bolstering their financial stability, as confirmed by the Bangko Sentral ng Pilipinas (BSP). The merger officially took effect on July 13, following the necessary regulatory approvals, as detailed in a circular letter signed by Bankero and BSP Deputy Governor Chuchi G. Fonacier on September 15.

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