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Manila Bulletin devider Business devider DBP earns recognition from partners, stakeholders

DBP earns recognition from partners, stakeholders

Published Feb 26, 2025 11:23 am
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The Development Bank of the Philippines (DBP), led by Branch Banking Sector Acting Head Senior Vice President, Carolyn I. Olfindo (center), Operations Sector Officer-in-Charge Senior Vice President Catherine T. Magana (sixth from left), Corporate Services Sector Officer-in-Charge Senior Vice President Ronaldo U. Tepora (seventh from right), together with representatives from various DBP Branches, received accolades from ARTA during the Report Card Survey 2.0 Awards Ceremony for F.Y. 2023.

State-owned Development Bank of the Philippines (DBP) has been recognized by its partners and stakeholders for its excellent service delivery as well as its consistent support to critical initiatives that led to the fulfillment of their respective mandates, a top official said.

DBP President and Chief Executive Officer Michael O. de Jesus said that the Bank has received awards from both the private and public sectors in the past year in recognition of its meritorious performance as a government financial institution.

“These recognitions are clear manifestations of DBP’s commitment to the pursuit of excellence in all facets of its operations and further inspire the men and women of this institution to continue working towards helping the National Government achieve advance inclusive growth in key economic sectors,” de Jesus said.

DBP is the 10th 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; environment; social services and community development.

Following the implementation of the Report Card Survey (RCS) 2.0 (1st Phase) for FY 2023, DBP branches in Romblon and Sta. Cruz, Davao scored a Gold Plaque of Recognition, while the DBP Head Office and branches in Borongan, Cebu, Dipolog, Makati, and Pototan in Iloilo each received a Silver Plaque of Recognition from the Anti-Red Tape Authority (ARTA) during the RCS 2.0 Awards. The awardees earned excellent or very satisfactory ratings in an assessment of their performance in the following aspects of government service: service delivery, access and facilities, communications, and payments and processes.

De Jesus said the Philippine Health Insurance Corporation (PhilHealth) recognized DBP as Outstanding Government Securities Eligible Dealer (GSED) for Government Securities Purchases in recognition of its consistent and effective participation in the Secondary Market via Non-Restricted Trading Environment (NRTE) Platform from 2016-2023, while the Social Security System (SSS) conferred DBP a special citation for being its disbursement partner during the recent 2024 SSS Balikat ng Bayan Awards.

He said that DBP received the 2024 JPMorgan New York’s Straight Through Processing (STP) Award after excelling with 99.99% mark in U.S. Dollar Clearing and achieving best-in class STP rates for its transactions.

“On behalf of the DBP Board and Management, we thank our partners and stakeholders in their continued trust and belief in the DBP, and we commit to work harder in 2025 to be of further service to them,” de Jesus said.

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