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  DBP net income hits P5.1-B in 2017
February 27, 2018

DBPposted a net income of P5.1-billion in 2017 showing a 21.43% increase from the P4.2-billion recorded in 2016 spurred largely by a steady growth in its loan portfolio.

In a press briefing held today at the DBP head office in Makati City, DBP president and chief executive officer Cecilia C. Borromeo said the bank achieved significant milestones in 2017, adding that DBP’s overall financial performance reflects the positive sentiment of the market to the resiliency and robustness of the economy.

“There are a lot of positive things going on in our institution. We are experiencing robust growth in our financials. Our development side is kicking into high gear. We have tailored our programs to make us more relevant in the National Government’s scheme of things,” Borromeo said.

DBP’s gross loan portfolio last year stood at P293.47-billion, a 21.82% increase from the P 240.9-billion recorded in 2016. Total assets expanded by 11.43% to P597.41-billion. Deposits also grew from P356.24-billion to P412.36-billion, with government deposits accounting for about 74% of this total amount.

Borromeo said that DBP is eyeing to become a one trillion bank by 2022 when it celebrates its diamond jubilee anniversary through the expansion of its deposit base and aggressive lending activities.

She said DBP is taking firm steps to improve its financial indicators such as portfolio quality, liquidity and capital ratios in order to be comparable with its counterparts in the ASEAN region.

DBP will beef up its acquisition activities by aggressively targeting one million new depositors in the next five years, especially small depositors residing in underserved areas of the country.

“This is an integral part of our advocacy to introduce more unbanked Filipinos into the financial mainstream,” Borromeo said.


Updates on DBP lending programs

Borromeo reported that DBP lent a total of P76.23-billion to infrastructure and logistics projects, representing nearly 35% of its total loan portfolio amounting to P219.93-billion.

“We are very excited to have been appointed to help usher in the ‘golden age for infrastructure’ in the country,” Borromeo said. “We are intensely looking forward to helping bridge the country’s infrastructure gap, and to help fund ongoing and proposed major infrastructure projects, which are vital for sustaining high and inclusive growth,” Borromeo said.

DBP has approved a total of P7-billion for 132 projects under its flagship Infrastructure Contractors Support (DBP ICONS) Program to address the funding gaps in infrastructure development in line with the “Build, Build, Build” program of the National Government.

The bank has also ramped up support for the micro, small and medium enterprise (MSME) sector with a P57-billion funding assistance for this critical sector anchored on two recently launched initiatives -- the DBP Small Business Puhunan Loan Program and the Broiler Contract Growing Program.

“In 2017, DBP was named SME Bank of the Year in the prestigious The Asian Banker - Philippine Country Awards 2017 for the significant growth of its SME lending business and for creating value to its customers,” Borromeo said. “These new programs serve as our tangible response to calls for a more liberalized credit access to small borrowers owners and poultry growers,” she added.

Borromeo said DBP has increased funding support for projects that enhanced the delivery of social services in the country, such as hospitals and medical institutions. Last year, the bank helped build 120 hospitals, through its P25.6-billion funding assistance to the social services sector while financing 15 hospital projects in Davao del Sur, 11 in South Cotabato, and five in Zamboanga del Sur.

“We also supported the construction of 2,486 schools and 12,831 classrooms through our assistance in school building projects,” Borromeo said.

DBP has also allocated P 21.87-billion in loans to environment-related projects such as water sewerage and management projects, and power generation projects.

Plans for 2018

Aside from aggressively targeting new depositors, DBP revealed it will also expand its branch network with the opening of 10 new branches in La Trinidad, Benguet; Alaminos, Pangasinan; Gapan, Nueva Ecija; Angeles City, Pampanga; Dolores, Eastern Samar; Lapu-Lapu City, Cebu; Oroquieta, Misamis Occidental; Panabo, Davao del Norte; Buhangin, Davao City; and Matina, Davao City.

The bank will also open eight new extension offices this year in Tumauini, Isabela; San Jose del Monte, Bulacan; Tayabas, Quezon; Placer, Masbate; Naga City, Cebu; Municipality of Siaton; Banga, South Cotabato; and M’lang Municipality, South Cotabato.

Borromeo said DBP is also set to install 200 more ATMs in key areas nationwide to enhance its services to underserved communities and in line with the objective of promoting financial inclusivity in the countryside. “These new ATMs would bring the total number of DBP ATMs to 648 by the end of 2018,” she said.

Borromeo said DBP is determined to meet new and greater challenges in 2018 and establish its imprint as a dynamic, responsive and solid development institution.

“DBP will firmly work to accomplish its set directions for 2018, maximize the potentials of its human resources, and seize every opportunity for growth and progress,” she said.



 
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