The Development Bank of the Philippines (DBP) achieved a remarkable P7.1-billion net income in 2024, marking a 20% increase from 2023. This is the bank’s highest profit in the last decade, driven by its robust lending activities in support of the Marcos Administration’s socio-economic goals.

DBP President and CEO Michael O. de Jesus attributed the growth to a 13% rise in core earnings, surpassing the bank’s P5.5-billion target by 29%. He emphasized that DBP’s strong performance reflects its stability and capacity to fund vital national programs.

As the 10th largest bank in the Philippines, DBP finances crucial sectors such as infrastructure, logistics, micro, small, and medium enterprises, and environmental initiatives. The bank operates 148 branches, including 15 branch lite units in remote areas.

In 2024, DBP’s loan income grew by 6%, reaching P31.7 billion, while treasury operations saw a modest 2% increase to P14.9 billion. The bank also exceeded its non-interest income target by 81%, reaching P4.04 billion, bolstered by higher earnings from bank fees, foreign exchange transactions, and trading gains.

Loans issued by DBP totaled P536.8 billion, with 61% (P326.48 billion) directed to infrastructure and logistics projects across major regions. Other significant allocations included P99.33 billion for social infrastructure, P55.12 billion for environmental projects, and P26.94 billion for MSMEs.

With a capital adequacy ratio of 14.90%, DBP continues to demonstrate financial resilience as it aggressively pursues programs that align with the President’s economic agenda.