By Joann S. Villanueva
Development Bank of the Philippines (DBP) posted its highest ever net income of P6.09 billion net income in 2009, almost double the P3.6 billion booked in 2008.
DBP president Reynaldo David said loan interest boosted the bank's income last year, with the loan portfolio reaching P167.01 billion and total available funds for lending at P74.4 billion.
He said a big part of total loan portfolio was used for various developmental projects like the Sustainable Logistics Development Program (SLDP).
The bank's total asset reached P292 billion last year, higher than year-ago's P263.25 billion.
Its capital adequacy ratio (CAR) stood at 21 percent, higher than the 10 percent requirement of the central bank.
“More important than these financial achievements, however, is that DBP's financial gains generated the much-needed funds to support the government's various developmental thrusts and priorities,†David said.
David said the loan portfolio for environment reached P6.07 billion, P9.8 billion for social services, and P10.9 billion for micro, small and medium entrepreneurs.
He said that the bank's contributions to the government's revenue-generation efforts were enchanced due to the several privatization deals, proceeds of which totaled to P109 billion from 2006 to last year.
And because of the operations performance of the bank last year, it was able to contribute P2.5 billion dividend to the national government (NG), a ceremonial check of which was given to President Gloria Macapagal-Arroyo in a ceremony held during the bank's anniversary celebration Monday. (PNA)
RMA/JS
Linkback:
https://tubagbohol.mikeligalig.com/index.php?topic=24893.0
