DBP loan portfolio up 15.6% to P167 billion in 2009

MANILA, Philippines - The State-run Development Bank of the Philippines (DBP) said its loan portfolio reached P167 billion as of end-2009, an increase of 15.6 percent from P144.44 billion in 2008.

In a statement, DBP said a total of P91.6 billion were allocated to developmental projects focused mainly on infrastructure and logistics, social services, micro, small and medium entrerprises (MSME) and the environment.

Another P46.6 billion were allocated for construction, manufacturing, wholesale and retail trade, agriculture, forestry, fishing, hotel and restaurant, mining and quarrying.

Most of the infrastructure and logistics projects were in Central Luzon, Cebu, Ilocos and Southern Tagalog, amounting to P17.5 billion. These were connected to the state-initiated Sustainable Logistics Development Program (SLDP) for the acquisition of roll-on, roll-of (Ro/Ro) vessels, upgrading sea ports, shipyard development and maritime schools.

MSME-related lending was likewise focused on the same regions, accounting for P11.8 billion of last year’s portfolio.

Environment-related lending reached P6.1 billion, focused mainly on renewable energy, solid waste management, pollution control and abatement.

Most of these projects were located in Central Luzon, Ilocos, Bicol and Western Visayas.

The government financial institution earlier reported a net income of P6.09 billion in 2009, roughly 70 percent higher than the P3.6 billion earnings in 2008. That resulted in a declaration of a record dividend of P2.5 billion for 2009. Total dividends since 2001 amounted to P11.4 billion.

The DBP reported a net worth of P40 billion and a market value of P50 billion as of end-2009. Total assets amounted to P263.25 billion.

Incidentally, DBP’s risk weighed-capital adequacy ratio (CAR) was rated at 21 percent, one of the highest among the country’s commercial banking industry.                                                      – Ted Torres