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The Development Bank of the Philippines is one of the country’s pre-eminent development financial institutions that has influenced and accelerated serious economic growth. Over the years, it has boosted economic growth through the provision of resources to the Philippines.
Although it’s classified as a development bank, it performs all the functions of a bank. Its main objective is to offer banking services that cater to the needs of agricultural and industrial enterprises with a direct emphasis on small or medium industries.
Since its businesses are directed, it’s mostly run by the Board of Directors, composed of 9 members appointed by the government, with the chief executive and the vice chairman being the president. In 1992, it was recognised as one of the world's top 10 banks that focuses on implementing valuable projects in the country.
It was also ranked number 11th in terms of overall leadership among companies by Far Eastern Economic Review. In 1995, DBP was given a license that made it attain a universal banking status.
The Bank also marked its 50th anniversary by having a turnover of up to One Billion Peso dividend checks, representing 50% of its net income. This is considered one of the biggest contributions to the government among government-owned institutions. As the country’s main infrastructure bank, it supports government efforts and constantly works towards building a more resilient economy.
Compared to other privately owned banks, its major focus is improving Filipinos' well-being. It has therefore put a comprehensive framework that spurs growth in key areas such as social services, infrastructure and logistics, small and medium enterprises, and the environment. One of CBD’s flagship areas is Infrastructure Contractors Support (ICONS).
Although it’s classified as a development bank, it performs all the functions of a bank. Its main objective is to offer banking services that cater to the needs of agricultural and industrial enterprises with a direct emphasis on small or medium industries.
Since its businesses are directed, it’s mostly run by the Board of Directors, composed of 9 members appointed by the government, with the chief executive and the vice chairman being the president. In 1992, it was recognised as one of the world's top 10 banks that focuses on implementing valuable projects in the country.
It was also ranked number 11th in terms of overall leadership among companies by Far Eastern Economic Review. In 1995, DBP was given a license that made it attain a universal banking status.
The Bank also marked its 50th anniversary by having a turnover of up to One Billion Peso dividend checks, representing 50% of its net income. This is considered one of the biggest contributions to the government among government-owned institutions. As the country’s main infrastructure bank, it supports government efforts and constantly works towards building a more resilient economy.
Compared to other privately owned banks, its major focus is improving Filipinos' well-being. It has therefore put a comprehensive framework that spurs growth in key areas such as social services, infrastructure and logistics, small and medium enterprises, and the environment. One of CBD’s flagship areas is Infrastructure Contractors Support (ICONS).
