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DBP posts P1.6-B net income in Q1
The Development Bank of the Philippines (DBP) reported an 82% increase in net income for the first quarter of 2025, reaching P1.61 billion, a significant jump from P571 million in Q1 2024.
DBP President and CEO Michael de Jesus attributed the strong financial performance to the robust performance of the local banking industry and the stable macroeconomic environment under President Ferdinand R. Marcos, Jr.
He expects another banner year for the bank, citing the favorable economic landscape and ongoing programs aimed at contributing to the Philippine Development Plan 2023-2028.
The increase in net profit was primarily driven by significant increases in interest income from its lending and investment portfolio.
The bank's net interest income was P7.14 billion in the first three months, with interest income at P12.83 billion and interest expense at P5.69 billion.
DBP's total assets surpassed P1 trillion, increasing by 7% to P1.04 trillion compared to the previous year.
Total deposits rose by 9% to P821 billion, while total loans disbursed saw a modest 2% increase to P519 billion.
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