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Development Bank of the Philippines
Bank in the Philippines / From Wikipedia, the free encyclopedia
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The Development Bank of the Philippines (DBP) is a state-owned development bank headquartered in Makati, Philippines. It is primarily tasked to provide banking services to cater to the needs of agricultural and industrial enterprises.[4] It has 146 branches including 14 branch lite units.[5]
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Company type | Government financial institution |
---|---|
Industry | Development finance |
Founded | January 2, 1947; 77 years ago (1947-01-02) in Manila, Philippines |
Headquarters | Makati, Philippines |
Key people | |
Services | Financial Services |
₱5.60 billion (2019) [2] | |
Total assets | ₱1.04 trillion (2020)[3] |
Website | www |
It was established after World War II in 1947 on the government's effort through its mandate to rebuild the country's war torned infrastructure. It focuses on four major areas of financing — infrastructure and logistics, social services, small and medium enterprises, and the environment.[6]
As of 2023[update], it was the eighth-largest bank in the Philippines in terms of assets.[7][8] DBP is also the second-largest and one of the state-owned and controlled banks along with Land Bank of the Philippines (LBP), Overseas Filipino Bank (OFW Bank), and Al-Amanah Islamic Bank. As a GOCC (Government Operated and Controlled Corporation), DBP is required to declare and remit at least half of its annual net earnings to the National Government.