State-owned Development Bank of the Philippines plans to bolster its lending programs to core markets in 2018 under a new organizational structure that will take effect in January next year.
DBP president and chief executive officer Cecilia Borromeo said under the reorganized structure, a new lending sector would be established to speed up the processing of loans to key clients and prospective borrowers especially in the branches.
“DBP will be adopting a new organizational structure that will enable us to significantly reduce credit processing time. We will also continue to innovate our processes, enhance our products and update our policies to make us more responsive to the needs of our stakeholders,” Borromeo said over the weekend.
She said DBP would establish lending centers in 22 provinces with over half located in the Visayas and Mindanao regions. The lending centers will be empowered to approve loans at a certain level so that processing time is reduced.
DBP is the eighth largest bank in the country with assets totaling P557.84-billion as of the end of third quarter of 2017, with its programs focused on four core areas, namely infrastructure and logistics, social services, environment and small and medium enterprises.
DBP In October was recognized as SME Bank of the Year by The Asian Banker Philippines Country Awards.
Borromeo said DBP would aim for “at least a 20 percent growth in its loan portfolio,” as the bank primed itself as the premier policy and infrastructure bank in the country. DBP’s gross loan portfolio as of September 30, 2017 stood at P276.46 billion, up 36 from the P203.48 billion year-on-year.
Borromeo added DBP would boost its assistance to core markets comprised mainly of local government units, water districts, electric distribution utilities, schools and hospitals. “DBP will also streamline units for greater cost efficiency,” she said.