3 days ago
DBP earnings up 82% in Q1 2025 to P1.61B
State-owned Development Bank of the Philippines (DBP) saw its bottom line grow by high double-digits in the first quarter of 2025.
In a statement on Tuesday, DBP said its net income stood at P1.61 billion in the January to March period, up 82% from P571 million in the same period in 2024.
The state-run lender said its earnings grew because it 'continued to ramp up lending activities to its priority sectors and key industries.'
In particular, DBP president and CEO Michael de Jesus said the financial performance in the first three months of the year was driven largely by significant increases in interest income from its lending and investment portfolio.
'DBP's strong financial performance in the first quarter is reflective of the robust performance of the local banking industry that has greatly benefited from the stable macroeconomic environment brought about by the sound economic policies of President Ferdinand Marcos, Jr.,' said De Jesus.
The DBP chief added that the state-run bank's total assets breached the trillion-peso mark, hitting P1.04-trillion, up 7% from the P977-billion posted year-on-year.
Moreover, DBP's total deposits grew to P821 billion, up 9% from P756 billion seen a year ago, while loans to borrowers rose by 2% to P519 billion from P509 billion year-on-year.
'About 60% of DBP's total loans, or P314.7 billion, went to the infrastructure and logistics sector with most of the projects located in the National Capital Region, Central Luzon, Davao, Eastern Visayas, and Central Visayas,' said de Jesus.
He added that DBP provided P96.7 billion in loans to projects for social infrastructure and community development, P47 billion for environment-related projects, and P25 billion for micro, small, and medium enterprises.
'We expect another banner year for the Bank given the favorable economic landscape even as we pursue more programs and initiatives that would contribute positively towards the 'deep economic and social transformation as embodied in the Philippine Development Plan' 2023 to 2028,' said De Jesus.
DBP is the 10th largest bank in the country in terms of assets and provides credit support to four priority sectors of the economy – infrastructure and logistics; micro, small and medium enterprises; the environment; and social services and community development.
It has a branch network of 150, including 14 branch lite units that are located in underserved areas in the country. —AOL, GMA Integrated News
