DAVAO CITY, July 11 — The Development Bank of the Philippines (DBP) sees Mindanao as a big contributor in terms of generating deposits.
According to Development Bank of the Philippines (DBP) president and chief executive officer Cecilia Borromeo, the bank will be getting more deposits from Mindanao but this will be plowed back into the island’s economy by way of loans to various sectors.
Being the state’s infra bank, Borromeo said Friday there is a continuing stream of development projects coming into Mindanao.
DBP has launched here its Infrastructure Contractor Support (ICONS) Program, a support to contractors of various infra projects in various levels such as the local government units, national government agencies, local water districts or even housing developers getting the services of these contractors for their projects, she said.
“We hope to give them the working capital they need that will significantly ease the flow of capital of these contractors so that they can finish their respective projects in a very timely fashion and generate efficiency that will improve their margins,” she said.
Borromeo said Mindanao’s share of the bank’s loan portfolio is about 20 percent.
Meanwhile, Borromeo underscored the country needs more infrastructure, which is now the director of the administration of President Rodrigo Duterte.
The country, she said needs more schools, hospitals, farm-to-market roads, and a 24/7 supply of water and connection to electricity.
She said the local government units will always be one potent partner of DBP and they will continue to support their projects included in the local development plan. DBP’s portfolio is 80 percent on infrastructure projects of different forms, she said.
As to the DBP Digital Banking Portal, Borromeo said they are looking to increase the touch point of the bank by deploying more automated machines (ATMs) in under-served unserved areas where ever physical and financially feasible.
“We are seriously thinking of expanding even our branch network and with our improved e-banking services we will partner with LGU and other businesses to make their operations more efficient,” she said.
Ebanking services as payment facility are already offered to LGUs to give a hassle-free in paying their taxes.
Davao City, she said, is looking at the possibility of partnering with DBP for some of its e-banking services. “Hopefully we can inspire them and take a look with our e-banking services and sign up with us,” she said.
DBP has now 121 branches throughout the country. By end of 2017, four more branches will open in Romblon, Polomolok, Taytay, Palawan, and Guinobatan, Albay. (Digna D. Banzon/PNA)