Thursday, Dec 14, 2017
DEVELOPMENT BANK OF THE PHILIPPINES


Vision/Mission

Mission Statement

To raise the level of competitiveness of the economy for sustainable growth.

To support infrastructure development, responsible entrepreneurship, efficient social services and protection of the environment.

To promote and maintain the highest standards of service and corporate governance among its customer constituencies.

Core Values

INTEGRITY (Honesty, Truthfulness, Transparency)

EXCELLENCE (Competence, Dedication to Work, Professionalism)

TEAMWORK (Harmony, Cooperation, Synergy)

SERVICE TO OTHERS (Customer – Oriented)

LOVE FOR THE FILIPINO (Love of country and its people everywhere)

Corporate Vision

By 2020, a regionally-recognized development financial institution serving as a catalyst for a progressive and more prosperous Philippines.

 

Business Description

In the Philippines, development financing institutions play a pivotal role in the quest for sustainable growth and development. And at the helm of the country’s march toward progress is the Development Bank of the Philippines. As the country’s pre-eminent development financial institution, DBP has taken upon itself the strategic task of influencing and accelerating sustainable economic growth, through the provision of resources, for the continued well-being of the Filipino people.

The DBP, under its new charter, is classified as a development bank and may perform all other functions of a thrift bank. Its primary objective is to provide banking services principally to cater to the medium and long-term needs of agricultural and industrial enterprises with emphasis on small and medium-scale industries.

The affairs and business of the Bank are directed, and its properties managed and preserved, and its corporate powers exercised by a Board of Directors consisting of nine (9) members appointed by the President of the Republic of the Philippines. The Chief Executive Officer of the Bank is also the President who is elected by the Board of Directors. The President is also the Vice Chairman of the Board.

 

Background

DBP's history can be traced back during the Commonwealth when the early infrastructure for development financing was laid by the government.

1935 - The National Loan and Investment Board (NLIB) was created to coordinate and manage government trust funds such as the Postal Savings Fund and the Teacher's Retirement Fund.

1939 - The Agricultural and Industrial Bank (AIB), which absorbed the functions of the NLIB, was created and started to harness government resources until the outbreak of war.

1947 - The government created the Rehabilitation Finance Corporation (RFC) under R.A. No. 85 which absorbed the assets and took over the functions of the AIB. The RFC provided credit facilities for the development of agriculture, commerce and industry and the reconstruction of properties damaged by the war.

1958 - The RFC was reorganized into the Development Bank of the Philippines. The change in corporate name marked the shift from rehabilitation to broader activities.

With an initial capital of P500 million subscribed by the government, the DBP expanded its facilities and operations to accelerate national development efforts. This forward thrust saw the establishment of a network of branches throughout the country. The DBP tapped both foreign and local fund sources to complement its capital resources. Credits were obtained directly from international financial institutions.

The DBP delivered to the economy substantial benefits in capital formation, employment generation and increased revenues, particularly in the countryside. In the late seventies and early eighties, however, its viability was undermined by an increasing number of non-performing accounts following a period of economic difficulty.

1986 - Former President Corazon Aquino issued E.O. No. 81 which provided for the 1986 Revised Charter that called for a clean up of DBP's books, staff reorganization and infusion of initial operating budget. The rehabilitation program restored its financial viability and DBP resumed lending operations.

With the transfer of non-performing assets together with liabilities in June 30, 1986 to the National Government, the DBP implemented an institutional strengthening program covering a thorough revision of the credit process and a training program for the intensive implementation of new lending thrusts. The Bank likewise reopened its lending windows for housing, agriculture, and small and medium scale industries.

1995 - The DBP was granted an expanded banking license and attained universal banking status.

1998 - Former President Fidel V. Ramos signed R.A. 8523 amending DBP's 1986 Charter. Among the major provisions incorporated in the new DBP Charter were the increase of authorized capital stock from P5 billion to P35 billion, and the creation of the position of President and CEO.

These developments paved the way for the pursuit of other activities that allowed the Bank to fulfill its development mandate more meaningfully.

 

Markets

The Miura Group currently has 15 overseas subsidiaries operating in the 13 countries of South Korea, China, Taiwan, Thailand, Vietnam, Singapore, Indonesia, Turkey, the Netherlands, Canada, the U.S.A., Mexico and Brazil. It also has 7 factories which, in accordance with laws and regulations of respective countries, manufacture products to meet demand in those nations while also engaging in sales and maintenance services.

Customers in 20 countries around the world are using MIURA Group products.

 

Industry

Under its charter, DBP is classified as a development bank. It is primarily tasked to provide banking services to cater to the needs of agricultural and industrial enterprises. It may also perform all other functions of a thrift bank.

It focuses on four major areas of financing—infrastructure and logistics, social services, small and medium enterprises, and the environment.

It also offers deposit and investment products and services, trade products and services, treasury products and services, transfer and remittance services, among others.

As a government-owned and controlled corporation (GOCC), DBP is required to declare and remit at least half of its annual net earnings to the national government. In 2012, it turned over P4 billion in dividends to the national coffers.

 

Location

Sen. Gil J. Puyat Avenue corner

Makati Avenue, Makati City

P.O. Box 1996, Makati Central

Post Office

1200 Makati City

 

Competitive Advantages

DBP competes in bank marketing against the largest commercial banks such as Metrobank, BPI, BDO Unibank and PNB. Outside the Metro Manila area, depending on the situation, it either competes against or complements the other banks in the area.

On the other end of the spectrum, DBP takes on a dual role with Landbank, another government-owned bank. It either competes against or works with Landbank, as the need arises.

 

Management

As a state-owned financial institution, the Philippine President carries the power of appointing key officials of the bank, including the Chairman of the Board, the President and Chief Executive Officer, the Directors, and the Chief Legal Counsel. Past DBP presidents were former cabinet secretaries, corporate managers, economists, and international finance executives.

As of February 2017, the key officials of the bank include:

  • Alberto G. Romulo- Chairman
  • Cecilia C. Borromeo - President and Chief Executive Officer, Vice Chairman of the Board of Directors
  • Miguel C. Abaya - Director
  • Ma. Lourdes A. Arcenas - Director
  • Luis C. Bonguyan - Director
  • Emmanuel P. Galicia, Jr. - Director
  • Rogelio V. Garcia - Director
  • Teodoro M. Jumamil - Director
  • Rolando L. Metin - Director

Website: https://www.devbnkphl.com/


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