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DBP income hit P5.3B in 2013

State-owned Development Bank of the Philippines (DBP) registered a net income of P5.28 billion last year, 27.85 percent higher than the P4.13 billion recorded in 2012, buoyed by significant increases in deposits, loans to borrowers and investments.

Posted: February 15th, 2014 in Headlines | Read More »

DBP plans to sell Al Amanah Bank

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Al Amanah

The government is preparing to divest itself of the Al Amanah Islamic Investment Bank of the Philippines, a subsidiary of the state-owned Development Bank of the Philippines, possibly bringing in a new group to run the country’s first and only Islamic bank.

Posted: December 16th, 2013 in Latest Business Stories | Read More »

Goings-on

Security Bank’s Tacloban branch begins full operations on Nov. 25. The bank has also announced that it will temporarily waive ATM fees on all its clients’ ATM transactions in both Tacloban and Ormoc, including those who have been displaced and will be using other bank ATMs.

Posted: November 25th, 2013 in Headlines | Read More »

DBP to issue more notes

State-owned Development Bank of the Philippines (DBP) rides on the back of strong investor demand as it moves to raise the issue size of its first Basel III compliant Tier 2 Fixed Rate Unsecured Subordinated Notes to P10 billion from P5 billion.

Posted: November 16th, 2013 in Headlines | Read More »

Another life claimed

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Another promising career has been destroyed—and a young life tragically ended—in the process of government authorities’ dogged pursuit of the case against former officials of Development Bank of the Philippines for an allegedly behest P660-million loan to businessman Roberto Ongpin in 2009.

Posted: August 6th, 2013 in Headlines | Read More »

Court orders arrest of 13 ex-DBP execs

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Former Labor Secretary Patricia Sto. Tomas, newspaper columnist Alexander Magno and 11 other former officers of the state-owned Development Bank of the Philippines (DBP) were ordered arrested on Thursday by the Sandiganbayan for complicity in granting P660 million in loans to a firm owned by businessman Roberto V. Ongpin in 2009.

Posted: August 2nd, 2013 in Headlines | Read More »

‘Investments made in good faith’; funds will be moved to DBP

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National Museum. INQUIRER FILE PHOTO

Everything was done in good faith. National Museum Chair Ramon del Rosario Jr. and Director Jeremy Barns said this in response to the Commission on Audit (COA) taking issue with the board of trustees’ handling of the museum’s P370-million endowment.

Posted: July 28th, 2013 in Latest Business Stories | Read More »

Ongpin wants graft raps junked

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Businessman Roberto Ongpin  INQUIRER FILE PHOTO

Businessman Roberto Ongpin has asked the courts to dismiss the graft charges against him and 24 current and former officials of the Development Bank of the Philippines (DBP), reiterating that the loans he obtained from the state-owned bank had been fully paid and, as such, could not be considered behest.

Posted: May 4th, 2013 in Latest Business Stories | Read More »

DBP execs, Inquirer chief cleared of libel

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dbp-logo

Saying that the statements were true and the commentary fair, a Makati prosecutor dismissed a libel suit filed by a lawyer against four Development Bank of the Philippines (DBP) officials and the Inquirer editor in chief.

Posted: December 29th, 2012 in Latest Business Stories | Read More »

13 DBP execs dismissed over behest loan fiasco

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Ombudsman Conchita Carpio Morales. INQUIRER FILE PHOTO

Ombudsman Conchita Carpio Morales dismissed from service 13 officials from the Development Bank of the Philippines (DBP) for granting P660 million in behest loans to Deltaventures Resources, Inc. (DVRI) in 2009.

Posted: December 6th, 2012 in Latest Business Stories,Photos & Videos | Read More »

DBP earmarks P5B for agribusiness lending

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Development Bank of the Philippines has earmarked P5 billion for a lending program that aims to help develop the agribusiness sector.

Posted: August 23rd, 2012 in Headlines | Read More »

Ex-DBP chief Sison acquitted in loan guarantee case

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A former chairman of the Development Bank of the Philippines was acquitted of graft for giving a P188 million loan guarantee to the Sta. Ines Mining and Steel Corp., which was allegedly not backed by sufficient collateral.

Posted: July 13th, 2012 in Latest Business Stories | Read More »

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