State-run Development Bank of the Philippines (DBP) reported that its net income surged to ₱1.61-billion in the first quarter of the year, an 82 percent increase from a year earlier due to intensified lending activities in its priority sectors and key industries.

In a statement, DBP President and Chief Executive Officer Michael O. de Jesus. De Jesus noted that the significant increase in interest income from bank’s lending and investment portfolio primarily drove this resurgence.

He added that DBP’s strong financial performance in the first quarter reflected the local banking industry's robust performance, which has greatly benefited from the stable macroeconomic environment brought about by the sound economic policies of President Marcos.

As the 10th largest bank in the country by assets, DBP provides credit support to four economic sectors: infrastructure and logistics; micro, small, and medium enterprises; the environment; and social services and community development. 

The bank operates a network of 150 branches, including 14 branch-lite units strategically located in underserved areas across the country.

De Jesus stated that DBP’s total assets surpassed the trillion-peso mark, reaching ₱1.04-trillion, a seven percent increase from ₱977-billion recorded in March 2024. 

He added that the bank’s net worth also saw an 11 percent rise, standing at ₱97-billion compared to ₱87-billion during the same period last year. Total deposits grew to ₱821-billion, a nine percent year-on-year increase from ₱756-billion, while loans to borrowers rose by two percent to ₱519-billion from ₱509-billion.

According to de Jesus, approximately 60 percent of DBP’s total loans, or ₱314.7-billion, were channeled into the infrastructure and logistics sector, with the majority of projects situated in the National Capital Region, Central Luzon, Davao, Eastern Visayas, and Central Visayas. 

He further noted that DBP allocated ₱96.7-billion for social infrastructure and community development projects, ₱47-billion for environment-related initiatives, and ₱25-billion for micro, small, and medium enterprises.

De Jesus assured that the bank will continue to aggressively pursue programs supporting the National Government’s economic agenda, particularly those promoting infrastructure development, food sufficiency, and energy security, while remaining responsive to client banking needs. 

He also expects another banner year for the bank given the favorable economic landscape, as DBP pursues more programs and initiatives contributing positively towards the "deep economic and social transformation as embodied in the Philippine Development Plan, 2023 to 2028."