Former Davao City vice mayor joins Duterte admin as new member of DBP board

[MikeLigalig.com]

Former Davao City vice mayor joins Duterte admin as new member of DBP board
By Alexander Lopez

DAVAO CITY, Jan. 2 (PNA) -- Former Davao City vice mayor Luis Bonguyan has joined the administration of President Rodrigo Duterte as new member of the board of the Development Bank of the Philippines (DBP).

Bonguyan, who was Duterte’s vice mayor in early 2000, told reporters during the regular Kapehan sa Dabaw at SM City on Monday that DBP’s mandate for this year is to focus its support to the local government units (LGUs), the electric cooperatives and water districts in the country.

Since he assumed post, Bonguyan said around 350 LGUs have already proposed to avail of the services of DBP especially on its loan facility.

DBP will also extend support to the micro, small and medium enterprises (MSMEs) through its medium and long-term loans, he added.

He said that for this year, DBP’s loan portfolio is estimated at PHP140 to PHP150 billion while the bank’s over-all asset is around PHP550 billion.

“Our income decreased last year compared to 2015,” Bonguyan pointed out, saying that in 2015, DBP had an income of PHP4.7 billion that went down to PHP3.8 billion in 2016.

He said they attributed the decrease in the banks’ income to the non-selling of its acquired properties.

“We received a letter and memorandum from the Department of Finance last year to set aside the selling of our acquired assets pending re-appraisal,” he added.

Bonguyan believed that the bank will be able to increase its income once the re-appraisal by the DOF is completed.

He also called on the LGUs in Davao region to visit the nearest DBP branches and inquire on how they can avail of the bank’s services. (PNA)

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