March 01, 2015 10:28 AM ET

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Company Overview of Development Bank of the Philippines

Company Overview

Development Bank of the Philippines provides various banking products and services to the agricultural and industrial enterprises in the Philippines. The company’s deposit products include current and savings accounts, and time deposits. It also offers investment banking services, such as financial packaging/investment design for debt/equity, financial advisory and investment consultancy, securities/debt underwriting/issue management, structured finance/loan syndication, and program/project development and management. In addition, the company provides development financing for infrastructure and logistics sectors; social services and community development; and micro, small, and medium enterp...

Sen. Gil J. Puyat Avenue Corner Makati Avenue

Makati City,  

Philippines

Founded in 1947

2,459 Employees

Key Executives for Development Bank of the Philippines

Vice Chairman, Chief Executive Officer, President, Chairman of Credit Committee, Chairman of Asset & Liability Management Committee, Vice Chairman of Executive Committee, Member of IT Governance Committee and Member of Trust Committee
Age: 62
Chief Financial Officer, Head of Financial Resource Sector and Executive Vice President
Age: 57
Vice President of Accounting
Age: 62
Chief Information Officer and Senior Vice President
Age: 57
Chief Legal Counsel and Senior Vice President
Age: 39
Compensation as of Fiscal Year 2014.

Development Bank of the Philippines Key Developments

CIMB Reportedly Eyes Al-Amanah

CIMB Group Holdings Berhad (KLSE:CIMB) intends to acquire Al-Amanah Bank, Manila Bulletin reported. According to the report, Al-Amanah Bank was in need of recapitalization involving up to PHP 100 billion. Manila Bulletin quoted Aleem Siddiqui Guiapal, Director of the Bureau of Muslim Economic Affairs of the National Commission on Muslim Filipinos, stating that CIMB planned to acquire Al-Amanah to boost its regional presence. He stated that CIMB's original intention to enter the Philippine market through the Bank of Commerce did not materialize. "So, now they are doing it directly," he said. He added that Development Bank of the Philippines seeks to divest sell Al-Amanah due to the lack of technical expertise in Islamic banking.

The Development Bank of the Philippines Reports Earnings Results for the First Quarter of 2014

The Development Bank of the Philippines reported earnings results for the first quarter of 2014. The company's net income for the first quarter fell by more than half, as the failed to repeat the trading gains it made in the same period last year. The bank posted a first quarter net income of PHP 735 million, down 51.6% from the PHP 1.52 billion first-quarter earnings last year. Still, the bank noted a 22% growth in its interest income from loans and investments.

Metro Pacific Investments Opposes Sale Of MRTC To Government

Metro Pacific Investments Corp (PSE:MPI) is not looking to sell Metro Rail Transit Corporation (MRTC) to government. Jose Ma. K. Lim, President of Metro Pacific Investments said that shareholders of MRTC opposed the planned buyout by the government. "What we proposed to government is for them to allow or to consider the expansion plan proposed by Metro Pacific," he added. Department of Transportation and Communications, Philippines officials were not available for comment. Joseph Emilio A. Abaya, Secretary of Transportation said that the Department of Budget and Management has approved a PHP 56 billion allotment for the buyout. The order directs the Transportation and Finance departments, Development Bank of the Philippines and Land Bank of the Philippines to execute the takeover of MRTC, through the acquisition of all outstanding shares of stock and other securities issued by the operator and entities owning the MRT-3 line, or all rights, titles interests of MRTC in the railway system. After the buyout, the government plans to auction off the operations and maintenance (O&M) of the MRT-3, while the government will remain its operator, he added.

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