GROSS loans portfolio of the state-run Development Bank of the Philippines (DBP) reached P179.17 billion in the initial half of 2012, stepping up by 5.82 percent from the P169.3 billion available during the same time final year.
In a statement, DBP President and Chief Executive Officer Francisco del Rosario Jr. mentioned that this alleviation and gains warranted from investments helped the bank produce a net income of P1.9 billion during the initial half of the year, up by 9.2 percent from the P1.74 billion available during the same time final year.
He moreover stressed that the bank was able to maintain its benefit to its priority growth sectors, quite infrastructure and logistics, amicable services, the environment, and micro, tiny and intermediate enterprises.
"We sojourn financially sound and viable but more importantly, you have remained loyal to the developmental order by ancillary vicious sectors of the economy," del Rosario Jr. said.
He moreover stressed that of the bank's sum loan portfolio, P118 billion were loans to borrowers.
Of this amount, P109 billion or 92.48 percent were comprised of developmental loans with the outstanding P8.8 billion for blurb loans.
Deposit levels grew by 2.24 percent, from P131.01 billion to P133.94 billion this year. Capital Adequacy Ratio (CAR) formed on Basel 2 stood at 21.6 percent, aloft from the 19.36 percent available during the same time final year. DBP's CAR is significantly aloft than the 10 percent mandated by the Bangko Sentral ng Pilipinas.
Non-performing loans forsaken to P4.89 billion from the P5.3 billion during the formerly year, and non-performing properties went down from P7.56 billion final year to P6.86 billion this year. Coverage proportion of non-performing properties increased to 82.42 percent from 72.52 percent final year. Total properties moreover increased by 1.52 percent from the P306.33 billion available final year to P310.98 billion this year.
DBP has non-stop 5 extra branches this year, and will moreover open full service branches in San Juan, Paraaque, Makati, Manila, Alabang and Santiago, Isabela.
DPB is the seventh-largest bank in the Philippines in conditions of assets, and is the second-largest government-owned bank, next usually to Land Bank of the Philippines. It is moreover a of the largest government-owned and -controlled corporations in the country.