State-owned Development Bank of the Philippines (DBP) said Tuesday its net income surged 82 percent to P1.61 billion in the first quarter of 2025, driven by increased lending to priority sectors and key industries.
DBP president and chief executive Michael de Jesus attributed the “resurgent financial performance” to significant increases in interest income from its lending and investment portfolio.
“DBP’s strong financial performance in the first quarter is reflective of the robust performance of the local banking industry that has greatly benefited from the stable macroeconomic environment brought about by the sound economic policies of President Ferdinand Marcos Jr.,” de Jesus said in a statement.
DBP, the Philippines’ 10th largest bank by assets, provides credit support to four priority sectors: infrastructure and logistics; micro, small and medium enterprises; the environment; and social services and community development. It has 150 branches, including 14 “branch lite units” in underserved areas.
The bank’s total assets surpassed the P1 trillion mark, reaching P1.04 trillion, a 7-percent increase from P977 billion in March 2024. Its net worth rose 11 percent to P97 billion from P87 billion in the same period last year.
Total deposits grew 9 percent year-on-year to P821 billion from P756 billion, while loans to borrowers increased 2 percent to P519 billion from P509 billion.
