State-owned Development Bank of the Philippines (DBP) achieved its highest net income in a decade, reaching P7.1 billion in 2024 – a 20% increase from 2023. This performance exceeds the bank’s target of P5.5 billion by 29%, driven by expanded lending to key economic sectors.
“DBP’s resurgent performance in 2024 is a clear testament that it remains a strong and capable government financial institution that is greatly capable of funding the priority programs of the national government,” says DBP President and CEO Michael O. de Jesus.
The bank, ranking 10th largest in the Philippines by assets, saw lending income rise 6% to P31.7 billion, while treasury operations grew 2% to P14.9 billion. Non-interest income surpassed targets by 81%, reaching P4.04 billion through increased bank fees, foreign exchange transactions, and trading gains.
Total loans grew 5% to P536.8 billion, with 61% (P326.48 billion) supporting infrastructure and logistics projects across the National Capital Region, Metro Davao, and the Visayas. Additional financing included P99.33 billion for social infrastructure, P55.12 billion for environmental projects, and P26.94 billion for small and medium enterprises.
DBP strengthened its financial position with an improved capital adequacy ratio of 14.90% and common equity tier 1 ration of 13.98% by year-end 2024.
DBP operates 148 branches nationwide, including 15 branch lite units serving remote areas, focusing on infrastructure, MSMEs, community services, and environmental projects.
