Tuesday July 17, 2018

‘Strong and brilliant at 70’

THE Development Bank of the Philippines (DBP) has remained to be strong and brilliant government-owned financial institution in the country for seven decades now, its chairman Alberto Romulo said.
Romulo along with other top officials of the DBP gathered Thursday, August 31, for the bank’s business roadshow at L’ Fisher Hotel in Bacolod City, the 7th leg in the country.
The activity, first held in Pampanga, Albay, Batangas, Cagayan de Oro, Davao, Cebu and Manila, is mainly geared towards showcasing what the DBP has done for 70 years of providing financial services to Filipinos.
In his speech, the former senator and adopted son of Bacolod said they are going around the country for three months already to encourage more developments especially in terms of infrastructure.
Aside from its diamond year as premier development bank in the country, the DBP also considers as milestone the move of President Rodrigo Duterte designating it as the “infrastructure bank” of the Philippines, Romulo said.
“In this golden age of infrastructure, the DBP is at the front line,” he said, adding that “with our current financial strength, the DBP continues to grow the financial muscle it needs to achieve its development mandate.

Based on the data presented by DBP president and chief executive officer Cecilia Borromeo, the bank posted an impressive net income of P2.65 billion in the second quarter of the year. The figure increased by 34 percent from P1.98 billion posted net income in the same period in 2016.
The DBP’s gross loan portfolio also grew by 26 percent, to P289.8 billion in the second quarter of 2017 from only P229.5 billion last year.
In terms of assets, Borromeo reported that it was P526.5 billion as of second quarter.
It represents nine percent increase from P481.2 billion registered in the same period last year while the deposit level reached P344.4 billion, she added.
“As the DBP strengthens its financial muscle, it continues to support the key economic sectors that contribute to the overall development of the country,” Borromeo said.
Aside from financial strength, other reasons why one should partner with the bank include its track record and good understanding of what the country needs with programs addressing these needs, she added.
 The DBP officials also underscored the institution’s four major development thrusts namely infrastructure, protection and management of environment, entrepreneurship and social services. They then presented corresponding programs the bank has instituted to sustain these thrusts.   
Aside from the Infrastructure Contractors Support (Icons) Program, the DBP also launched during the roadshow its digital banking portal. It is a complete suite of cash management solutions designed to provide online banking convenience to the clients.
“The roadshow is for the people, especially stakeholders, to be inspired by what we did with other partners so that it will give them ideas on the possibilities of working with the DBP,” Borromeo said.
Romulo noted that “as leaders in our respective communities and industries, we have very special responsibility and opportunity to make this world a better home for the people.”
Other top officials of the DBP present during the roadshow included Directors Luis Bonguyan and Rogelio Garcia.
It was attended by representatives and industry players from both private and public sector in the province including Jaime Golez, president of SunStar Bacolod and a former colleague of Romulo in the public service.
Some local government officials who were present were Silay City Mayor Mark Andrew Arthur Golez and Bacolod City Mayor Evelio Leonardia, among others.