State-owned Development Bank of the Philippines won five awards from an association of investment houses for its contributions in advancing the development of capital markets, a top executive said Friday.
DBP president and chief executive Michael de Jesus said the Investment House Association of the Philippines cited the bank for its support to various public-private sector undertakings that promoted innovation in the areas of infrastructure, agriculture and tourism.
“We are grateful to IHAP for recognizing DBP’s critical role as an essential developer and driver of the Philippine capital markets,” de Jesus said. “We are committed to formulating new and innovative ways to support investment transactions that will boost critical sectors such as infrastructure, agriculture, and tourism.”
DBP is the eighth largest bank in the country in terms of assets and provides strategic financing support to critical economic sectors such as infrastructure and logistics, micro, small and medium enterprises, social services, and the environment.
IHAP is a non-stock, non-profit organization established in 1974 to raise public awareness on the investment houses in the country and their contribution in the growth of Philippine businesses and the economy through the development of the capital markets.