STATE-RUN Development Bank of the Philippines, the seventh-largest lender in terms of assets, is aiming to increase its net income this year by 9 percent to P5.55 billion from P5.10 billion in 2017, driven by increased lending to the infrastructure sector.
DBP president and chief executive Cecilia Borromeo said in a briefing in Makati City Monday the goal was in line with the bank’s vision of becoming a one-trillion-peso bank by its diamond jubilee year in 2022.
“We are prepared to lend more to the infrastructure sector and we are looking forward to fund more new infra projects to sustain a more inclusive economic growth,” Borromeo said.
“We have enough financial muscle and we are ready to meet new challenges this year,” Borromeo said.
He said the bank was aiming for a 39-percent growth in total loan portfolio this year to P306.62 billion from P293.47 billion in 2016.
