DBP sustains loan growth
The Development Bank of the Philippines sustained the growth momentum of its loan portfolio, releasing P374.85 billion to borrowers for the first nine months of the year.
This reflected a 13.91 percent increase from the P329.07B disbursed during the same period in 2019, a top official said.
DBP President and Chief Executive Officer Emmanuel G. Herbosa said a substantial part of the loan releases amounting to P175.72B went to the infrastructure and logistics sector; followed by loans to social services, P77.23B; environment projects, P43.12B; and micro, small, and medium enterprises, P26.48B.
“As the premiere infrastructure bank of the country, DBP broadened its support to priority industries as we throw our full commitment to rebuild, recover and revitalize the economy that has been battered by the pandemic and the series of calamities,” Herbosa said.
DBP is the seventh largest bank in the country in terms of assets. – Press release