MANILA, Philippines - State-owned Development Bank of the Philippines (DBP) is planning to undertake five strategic programs to further support its core business objective of lending to developmental projects in the near-term.
DBP said it would enter into partnerships with other financial institutions, licensed money transfer companies and agencies such as Philippine consulates and other government offices for payroll, fee payment and other services, as well as to provide business loans and other types of financing.
The bank also plans to undertake similar acquisition transactions such as the purchase of Al-Amanah in 2007 and NDC- Maritime Leasing Corp. (NMLC) in 2008, which have allowed the bank to expand into the areas of Islamic banking and leasing in support of its maritime infrastructure development projects.
It likewise intends to broaden customer awareness of the bank and its products and services throughout the Philippines and internationally, as well as to target new customers.
Another program is adopting a more systematic and organized approach to servicing the credit needs of LGUs (local government units) and to develop its commercial networks with local government associations such as the League of Governors and League of Municipalities with a view to more efficiently serve this market segment.
It will also support the implementation of the DBP government credit card, aimed at streamlining credit and payroll processes for Government agencies and departments.
The bank believes that implementing these initiatives will allow it to further expand into other commercial banking segments to complement its developmental focus and widen its customer base and commercial profile.
DBP posted a net income of P5.28 billion in 2013, up 28 percent from P4.13-billion in 2012 buoyed by significant increases in deposits, loans to borrowers and investments.
Deposits improved 42 percent to P251.08 billion in 2013 from P176.92 billion in 2012.
Loans to borrowers increased by seven percent to P127.4 billion from P118.9 billion in 2012. Investments jumped to P145.75 billion from P97.74 billion in 2012.
Total assets increased to P436.1billion from P361.08-billion in 2012. Capital adequacy ratio based on Basel II stood at 24.33 percent as of December 2013.