DBP breaches trillion peso asset mark

State-owned Development Bank of the Philippines (DBP) joined the elite ranks of trillion-peso banks in the country, as the bank’s total assets reached P1.04-trillion at end-2020, showing a whopping 37 percent increase from the P761.24-billion recorded in 2019, a top official said.

DBP President and Chief Executive Officer Emmanuel Herbosa said the increase in total assets was buoyed largely by the hefty increases in deposits which grew 47.6 percent to P817.9-billion from P554.18-billion in 2019, and the double-digit hike in investments which recorded a 26 percent increase to P260.1-billion from P206.57-billion from the previous year.