State-owned Development Bank of the Philippines will expand lending activities for social services that cover health care, education, housing and community development this year, its top official said Tuesday.
DBP president and chief executive officer Cecilia Borromeo said the bank was gearing up to support more initiatives that would enhance the delivery of basic social services across the archipelago.
“We’re looking to build more schools and hospitals this year,” Borromeo said. “This is part of our continuing commitment to support government’s efforts to improve social services to our citizens especially in the countryside.”
DBP is the eighth largest bank in the country with assets of P557.84 billion as of the end of the end third quarter of 2017. At least 16 percent, or about P33 billion of the bank’s portfolio, is devoted to social services.