75 Years of Banking for the Country

July 7, 2022 0 Comments

State-owned Development Bank of the Philippines (DBP) marks its historic 75th anniversary firmly positioned as the nation’s catalyst for sustainable growth. The bank has been a steadfast ally of the Filipino people in their quest for a comfortable life enriched by financial security, work-life balance, orderly communities, and an empowered government.,DBP remains primed to channel resources to key sectors including infrastructure and logistics, social services, entrepreneurship, and the environment to drive growth in the face of shifting global challenges., Key Programs,In 2021, the DBP Rehabilitation Support Program on Severe Events (DBP RESPONSE) encouraged private business and public institutions to resume operations and boost the government’s national recovery program in the face of the COVID-19 pandemic.,A sub-program of DBP RESPONSE, the DBP RESPONSE to Accelerate MSME Recovery (DBP RESPONSE-MSME RECOVERY), provided low interest and/or flexible term loans for businesses affected by the COVID-19 pandemic. Under this facility, DBP approved P9.4-billion in funding support to 113 public and private institutions—74 of which were micro, small, and medium enterprises (MSMEs) while the rest were financial institutions such as non-banking financial institutions, rural banks, thrift banks, and cooperative banks.,Under its Assistance for Economic and Social Development (ASENSO) for LGUs program, on the other hand, DBP approved P44.94-billion in funding support for 128 local government units, and extended interest subsidies totaling P511.39-million to 128 borrowers on loan interest payments on new and existing loans.,DBP also approved P618.5-million in funding support to MSMEs under its Swine Repopulation, Rehabilitation and Recovery (Swine R3) Credit Program, a credit window to support the national government’s efforts in the recovery and repopulation of the local swine industry through financing of bio-secured farm projects., DBP joined the ranks of trillion-peso banks as total assets reached P1.04-trillion at end-2020, a 37 percent hike from the P761.24-billion recorded in 2019. This was driven by increases in deposits which grew 47.6 percent to P817.9-billion, and the double-digit hike in investments which recorded a 26 percent increase to P260.1-billion in end-2020.,Awards,In 2021, DBP was a three-time winner in the Association of Development Financing Institutions in Asia and the Pacific Development Awards. DBP’s programs to strengthen organizational capability was adjudged Outstanding Development Project in human capital development, while its Expanded Rice Credit Assistance program under the Rice Competitiveness Enhancement Fund was awarded a Plaque of Merit for advancing financial inclusion. DBP President and Chief Executive Officer Emmanuel G. Herbosa was likewise bestowed the Outstanding CEO Award for his admirable stewardship of the bank, including advancing DBP’s development mandate for the underserved and unbanked, especially in conflict-stricken areas in Mindanao.,DBP was among the recipient organizations in the 22nd and 23rd Philippine Quality Award (PQA) Assessment Cycles. The bank’s PQA Level 2 Recognition for Proficiency in Quality Management affirmed DBP’s commitment to performance excellence through the consistent efforts of employees to institutionalize improvements and innovation in all aspects of the bank’s operations.,Now the fifth largest bank in the country in terms of assets, with a growing network of 141 branches, 13 branch-lite offices, and 30 lending units located mostly in poorer areas of the country, DBP is ready to expand its growth initiatives to further ease access to funds, generate economic opportunities, and escalate development intervention in hard-to-reach segments.,Continuing a 75-year-old tradition, and with the same firm resolve, DBP remains committed to man the frontlines of public service, mobilizing resources, and providing purposive support as the National Government carves the path to sustainable development for the country., ,