Company Overview of Development Bank of the Philippines
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
Founded in 1947
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
Chief Financial Officer, Head of Financial Resource Sector and Executive Vice President
Vice President of Accounting
Chief Information Officer and Senior Vice President
Chief Legal Counsel and Senior Vice President
Compensation as of Fiscal Year 2015.
Development Bank of the Philippines Key Developments
Update On Planned Merger Between Development Bank Of The Philippines And Land Bank Of The Philippines
Aug 26 15
The planned merger between Development Bank of the Philippines (DBP) and Land Bank of the Philippines (Landbank) may have to wait until the next administration, with a proposal still having long way to go before it secures Senate approval and due to lack of support from President Benigno S.C. Aquino III, a Congress official said. Senator Sergio R. Osmena III, head of the Senate committee on banks, financial institutions and currencies said in a text message on August 25, 2015 that his committee has set aside further deliberations on the proposal since it could no longer pass at this time and instead focus on other bills in its pipeline. "The House passed a three-page bill but we are dealing with two charters," Osmena said. "It will take so much time to study so we might as well leave it to the next Congress. Also, [Mr, Aquino] disapproved it," he added. Malacanang officials were not immediately available on august 25, 2015 to confirm this. House Committee on Banks and Financial Intermediaries Chairman Nelson P. Collantes said in a separate text message that the ball is now in the Senate's court whether or not to approve the proposal. Sen. Osmena also said that time that his committee will discuss the proposal with the Bangko Sentral ng Pilipinas (BSP) and conduct hearings on it.
Development Bank of the Philippines Reports Earnings Results for the First Half Ended June 2015
Jul 23 15
Development Bank of the Philippines reported earnings results for the first half ended June 2015. For the period, the bank saw its net income grow by almost a fifth in the first half of 2015 on the back of the continued expansion of its main businesses, putting it on track to meeting its full- year targets. The bank said its net income was up by 19% to PHP 2.349 billion from the same period in 2014. The bank said its net earnings for the semester - which ‘makes the bank on track to meeting its full year profit target for 2015’ -translated to an 11.04% return on equity, or the net income earned as a percentage of stockholder investment. Total interest income expanded by 11% year on year to PHP 2.707 billion.
Two Government-Owned Banks Bucks President Aquino’s Proposed Buyout Of Metro Rail Transit Corporation
Jul 23 15
Two government-owned banks are bucking President Aquino’s proposed buyout of the Metro Rail Transit Corporation. Department of Transportation and Communications (DOTC) Secretary Joseph Emilio Abaya has announced that he will meet next week with Department of Finance (DOF) Secretary Cesar V. Purisima to address a new kink that has emerged in the Metro Rail Transit Corporation's proposed buyout. Development Bank of the Philippines and Land Bank of the Philippines have a combined 80% economic stake in Metro Rail Transit Corporation.
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