New DBP head to broaden role in infrastructure financing

The new president and chief executive officer of the Development Bank of the Philippines (DBP), Michael O. de Jesus, on Friday, Jan. 27, vowed to strengthen and expand the state-owned bank’s role in infrastructure financing to sustain the country’s growth momentum.

“As I take the helm of DBP, it is with high hope and confidence that this Bank will continue to boost and sustain our infrastructure push,” according to de Jesus.

The US-educated and trained executive has an extensive experience in corporate banking and finance.

Executive Secretary Lucas Bersamin (left) swears in DBP president and chief executive officer Michael O. de Jesus during rites held at the Office of the Press Secretary in Malacañang Palace, Manila.

Prior to his appointment as the ninth DBP President and CEO, he was a senior executive of several top-tier universal banks in the country.

With de Jesus on the helm, DBP will remain active in financing high-growth sectors such as telecommunications and public infrastructure, as well as those that promote food security, agriculture modernization, sustainable energy, and economic inclusivity.

The state-owned bank will also pursue digitalization to increase customer touchpoints and enhance client engagement, he maintained.

"DBP will be more customer-centric to address the needs of its niche markets, like local government units," he stressed, adding that the bank "will leverage on partnerships with established information technology (IT) providers and harness available and emerging IT applications.”

DBP has been designated as the country's Infrastructure Bank since 2017.

It is the eighth largest bank in the country, in terms of assets and provides credit support to four strategic sectors of the economy – infrastructure and logistics; micro, small and medium enterprises; the environment; and social services and community development.

DBP has a network of 146 branches and branch-lite units, many of which are located in far-flung and underserved communities.