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October 03, 2023

DBP to slash staff to solidify role as public infra financing arm

The bank, led by Bankero Emmanuel Herbosa, intends to undergo manpower restructuring.

The Development Bank of the Philippines (DBP) unveiled that the organization is undergoing restructuring to solidify its footprint as the main public infrastructure financing.

Prior to the change in administration, a Governance Commission for Government Owned or Controlled Corporations’ (GCG) memorandum order issued in June revealed a plan to cut down DBP’s staff which shall lead to massive annual savings. According to the GCG, DOF previously announced that DBP shall serve as the infrastructure banks for infrastructure programs to administer loans, thereby providing more loan opportunities.

DBP intends to slash its manpower in a bid to solidify its role as the country’s main infrastructure financing arm.


PNB recognized during SSS’s 66th anniversary celebration

The Social Security System (SSS) has bestowed two prestigious awards upon Philippine National Bank (PNB), designating them as the “Best Collection Partner” for the Overseas Bank category and the “Best Disbursement Partner” for the Universal Bank category during the “Balikat ng Bayan” Awards (BBA) 2023 ceremony held at the SSS Main Office in Quezon City on September 8.

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