The Development Bank of the Philippines (DBP) has reported a 60 percent surge in net income for the initial half of 2023, reaching P4.42 billion compared to the same period last year, fueled by rising foreign currency profits and non-recurring gains from property dispositions.
Bankero, DBP President and CEO Michael O. de Jesus stated that the bank is on course to meet its full-year income target of P5.20 billion.
Notably, DBP’s prominent loan exposure of P281.59 billion was allocated to infrastructure and logistics, followed by P110.03 billion for social infrastructure and community development.
The bank’s consistent financial strength is aligned with its commitment to bolster crucial investment sectors, as it continues to collaborate with the National Government to support economic growth and stability.
