Company Overview of Development Bank of the Philippines
Development Bank of the Philippines provides a range of banking products and services in the Philippines. Its deposit products include current, savings, time deposit, option savings, and special savings accounts. The company offers development financing for infrastructure and logistics sectors; social services and community development; and micro, small, and medium enterprises. It also provides investment banking services, such as financial packaging/investment design for debt/equity, financial advisory and investment consultancy, securities/debt underwriting/issue management, structured finance/loan syndication, and program/project development and management. In addition, the company offers...
Sen. Gil J. Puyat Avenue corner Makati Avenue
Founded in 1947
Key Executives for Development Bank of the Philippines
Chief Operating Officer and Senior Executive Vice President
First Vice President and President of DBP Data Center Inc
Head of Accounting and Senior Vice President
Chief Legal Counsel and First Senior Vice President
First Vice President and Compliance Officer
Compensation as of Fiscal Year 2012.
Development Bank of the Philippines Key Developments
Development Bank Needs Time To Divest Al-Amanah Islamic
Mar 1 13
Development Bank of the Philippines (DBP) has asked the Bangko Sentral ng Pilipinas (BSP) to provide more time for divestment of its stake in Al-Amanah Islamic Investment Bank of The Philippines. "The Monetary Board has approved the sale, instructing us to complete the disposition within six months or by March 2013. But we have requested for an extension [beyond March] as the GCG (Government Commission for GOCCs) has not yet given its consent," said DBP Head of the Corporate Banking Sector Lilia G. Baun on February 26, 2013. "The BSP still needs to approve our request for an extension by six months. It has asked us to submit documents and we are working on them. Simultaneously, we are still waiting for the approval from the GCG," Baun added. Development Bank of the Philippines was given six months or until March 20, 2013 to divest its stake in the Al-Amanah Islamic Investment Bank. "It depends on whether we secure all the necessary approvals or not and on the result of our meeting with the President," Baun said when asked whether the divestment happen in 2013. She said bank officials will meet with President Benigno S. C. Aquino III in March 2013 to discuss the sale. "Things might also change because of the Bangsamoro deal, but these are all speculations," she said. Baun said that if the BSP and GCC approvals are not obtained by March 20, then "everything will go back to stage one."
President Approves Acquisition of Metro Rail Transit
Dec 19 12
On December 17, 2012, President Benigno Aquino III approved the acquisition of Metro Rail Transit Corporation. On December 18, 2012, Transportation Secretary Joseph Emilio Abaya said, “On the equity buyout, the consensual decision of the Cabinet secretaries was to go ahead with the buyout. It’s good for the government and for the people. The Department of Finance will determine the computation and will do the terms of the buyout and the funding." The government was expected to pay a minimum of $1 billion for the acquisition of shares in Metro Rail Transit. The government holds 80% stake in Metro Rail Transit through Development Bank of the Philippines and Land Bank of the Philippines. The Bangko Sentral ng Pilipinas had ordered Development Bank and Land Bank to divest of their stakes in Metro Rail Transit. Abaya said one solution was for Development Bank and Land Bank to sell their interest to the private sector. Abaya added, “The other option is for the government to take over everything who will now buy all private interests and convert everything to the government."
Development Bank of the Philippines Announces Executive Changes
Oct 3 12
Development Bank of the Philippines appointed Gil A. Buenaventura as president and chief executive officer, replacing Francisco F. del Rosario, Jr. who resigned effective September 30, 2012. Mr. Buenaventura will assume his post on October 22, 2012. In the meantime, DBP Director Cecilio B. Lorenzo will serve as officer-in-charge. The new DBP chief was the senior executive vice president and chief operating officer of Ayala-led Bank of the Philippine Islands before his retirement on September 30, 2012.
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