Strong and Brilliant Strong and Brilliant DBP Senior Officers Audited Financial DBP Subsidiaries DBP Products

DBP Products DBP Expanded

Customer Concern Corporate Citizenship Statements and Services Network for Growth

REPUBLIC OF THE PHILIPPINES

COMMISSION ON AUDIT
Corporate Government Sector
Cluster 1 – Banking and Credit

INDEPENDENT AUDITOR’S REPORT

The Board of Directors

Development Bank of the Philippines
Makati City

Qualified Opinion

We have audited the consolidated financial statements of the Development Bank of the Philippines (DBP) and its subsidiaries (the “Group”),
which comprise the consolidated statements of financial position as at December 31, 2017 and 2016, and the consolidated statements of profit
or loss and other comprehensive income, consolidated statements of changes in equity and consolidated statements of cash flows for the
years then ended, and notes to the consolidated financial statements, including a summary of significant accounting policies.

In our opinion, except for the effects of the matter described in the Basis for Qualified Opinion section of our report, the accompanying
consolidated financial statements present fairly, in all material respects, the financial position of the Group as at December 31, 2017 and 2016,
and its consolidated financial performance and its consolidated cash flows for the years then ended in accordance with Philippine Financial
Reporting Standards (PFRS).

Basis for Qualified Opinion

The Bank’s government securities holdings classified as Available for Sale (AFS) with face amount of P29.081 billion were sold to one and the
same counterparty at a loss totaling P876.712 million in 2014. The same government securities were bought back by the Bank at the same
price and were booked under Held to Maturity. Such derecognition and reclassification are contrary to Philippine Accounting Standard (PAS)
39 because the comparison of the present value of net cash flows before and after the sale showed no significant change. Management did not
implement previous years’ audit recommendation to reclassify the securities back to AFS. Had the government securities been classified as
AFS, the Bank’s assets, liabilities and equity accounts would have decreased by P2.102 billion, P0.232 billion and P1.870 billion, respectively,
as at December 31, 2017, and P0.406 billion, P0.080 billion and P0.327 billion, respectively, as at December 31, 2016.

We conducted our audit in accordance with International Standards of Supreme Audit Institutions (ISSAI). Our responsibilities under those
standards are further described in the Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements section of our report.
We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the
Philippine Public Sector, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the
audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Responsibilities of Management and Those Charged with Governance for the Financial Statements

Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with PFRS,
and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are
free from material misstatement, whether due to fraud or error.

In preparing the consolidated financial statements, management is responsible for assessing the Group’s ability to continue as a going
concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management
either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.

Those charged with governance are responsible for overseeing the Group’s financial reporting process.

2017 ANNUAL REPORT 75

Report to The Start of Strong and DBP @ 70. Strong and A Legacy of Strong and
Stakeholders Brilliance Brilliant DBP Our Story to Tell Brilliant Strength and Brilliant People
Governance Brilliance

Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement,
whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance,
but is not a guarantee that an audit conducted in accordance with ISSAI will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected
to influence the economic decisions of users taken on the basis of these consolidated financial statements.

As part of an audit in accordance with ISSAI, we exercise professional judgment and maintain professional skepticism throughout the audit.
We also:

· Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform
audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our
opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may
involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

· Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s internal control.

· Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures
made by management.
·
· Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence
obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group’s ability
to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s
report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion.
Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions
may cause the Group to cease to continue as a going concern.

· Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether
the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

· Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group
to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance
of the group audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit
and significant audit observations, including any significant deficiencies in internal control that we identify during our audit.

COMMISSION ON AUDIT

MARILYN C. BRIONES
Supervising Auditor

June 8, 2018

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Customer Concern Corporate Citizenship Statements and Services Network for Growth

STATEMENT OF FINANCIAL POSITION

As at December 31, 2017 and 2016
(In thousand pesos)

Group Parent
As restated As restated
Note 2017 2016 2017 2016

Assets

Cash and other cash items 7 5,235,397 3,662,019 5,224,876 3,648,329

Due from Bangko Sentral ng Pilipinas 7, 8 75,288,023 79,748,450 75,078,137 79,572,375
Due from other banks 7 19,850,387 8,593,084 19,847,162 8,573,178
Interbank loans receivable 7,9 13,237,444 5,435,951 13,237,444 5,435,951
Securities purchased under agreement to resell 7,10 60,917,405 39,889,738 60,677,784 39,692,457
Financial assets at fair value through profit or loss 11 3,710,544 10,824,688 3,710,544 10,824,688
Financial assets available for sale - net 12,19 67,142,940 70,927,299 67,140,132 70,924,461
Financial assets held to maturity 13 87,794,170 79,207,936 87,775,676 79,191,080
Loans and receivables - net 14,19,32 245,812,412 226,381,299 243,771,223 224,199,850
Bank premises, furniture, fixtures and equipment - net 15 2,850,597 2,909,476 2,834,015 2,894,058
Investment property - net 16,19 1,153,098 1,367,868 1,153,098 1,367,868
Equity investment in subsidiaries - net 17,19 - - 1,664,898 1,667,991
Equity investment in associates and joint ventures - net 18 378,992 431,488 106,189 152,804
Non-current assets held for sale - net 19 197,274 137,946 197,274 137,946
Deferred tax assets 20 2,399,931 2,787,238 2,399,707 2,787,014
Intangible assets - net 21 465,784 424,347 463,321 422,443
Other assets - net 19,22 7,802,796 5,258,917 7,073,624 4,790,476
Total Assets 594,237,194 537,987,744 592,355,104 536,282,969

Liabilities and Equity

Liabilities

Deposits liabilities 23 412,676,037 356,419,509 412,363,755 356,242,441

Bills payable 24
Official Development Assistance (ODA) 54,260,535 54,176,054 54,260,535 54,176,054
Non-ODA 44,091,239 47,909,947 42,821,195 46,853,275
98,351,774 102,086,001 97,081,730 101,029,329

Bonds Payable 25 14,948,201 14,876,888 14,948,201 14,876,888

Due to Bangko Sentral ng Pilipinas/other banks 26 628 1,634 628 1,634
Manager’s checks and demand drafts outstanding 27 499,947 221,566 499,241 220,889
Accrued taxes, interests and expenses 28 4,636,771 4,490,948 4,555,970 4,380,839
Unsecured subordinated debt 29 9,995,686 9,990,837 9,995,686 9,990,837
Deferred credits and other liabilities 30 5,112,392 5,075,274 4,825,050 4,650,232
Total Liabilities 546,221,436 493,162,657 544,270,261 491,393,089

Equity

Capital Stock 31 17,500,000 17,500,000 17,500,000 17,500,000

Retained earnings 31,690,215 28,961,559 31,773,211 29,040,365
Retained earnings reserves 32 251,849 250,570 231,849 230,570
Accumulated other comprehensive income/(loss) 33 (1,425,626) (1,886,433) (1,420,217) (1,881,055)
48,016,438 44,825,696 48,084,843 44,889,880
Non-controlling interest (680) (609) - -

Total Equity 48,015,758 44,825,087 48,084,843 44,889,880

Total Liabilities and Equity 594,237,194 537,987,744 592,355,104 536,282,969

See accompanying Notes to Financial Statements

2017 ANNUAL REPORT 77

Report to The Start of Strong and DBP @ 70. Strong and A Legacy of Strong and
Stakeholders Brilliance Brilliant DBP Our Story to Tell Brilliant Strength and Brilliant People
Governance Brilliance

STATEMENT OF PROFIT OR LOSS

For the Years Ended December 31, 2017 and 2016
(In thousand pesos, except per share amounts)

Group Parent
Restated Restated
Note 2017 2016 2017 2016
Interest income
Loans and receivables P 13,018,717 P 11,844,548 P 13,006,373 P 11,830,839
Financial assets - debt securities 6,283,902 6,256,080 6,283,146 6,255,675
Deposits with banks 426,687 674,322 424,032 595,641
Interbank loans receivable/Securities purchased
under agreement to resell 650,222 471,253 641,973 469,122
20,379,528 19,246,203 20,355,524 19,151,277

Interest expense
Bills payable and other borrowings
ODA Borrowings 2,225,590 2,258,560 2,225,590 2,258,560
Other Borrowings 2,307,858 2,115,838 2,260,222 2,080,336
Deposits 2,848,873 3,323,358 2,948,186 3,324,180
7,382,321 7,697,756 7,433,998 7,663,076

Net interest income 12,997,207 11,548,447 12,921,526 11,488,201

Provision for impairment 19 505,315 778,026 497,059 757,511

Net interest income after provision for impairment 12,491,892 10,770,421 12,424,467 10,730,690

Other income
Profit/(loss) from investment and securities trading 174,430 506,448 174,430 506,448
Foreign exchange profit/(loss) 115,742 285,305 115,742 285,305
Service charges, fees and commissions 808,167 516,833 805,786 514,829
Dividends - equity investments 829,703 782,108 838,502 788,426
Miscellaneous 34 644,467 618,753 503,054 422,139
2,572,509 2,709,447 2,437,514 2,517,147

Other expenses
Compensation and fringe benefits 3,371,143 3,283,808 3,164,686 3,019,178
Taxes and licenses 36, 44 1,772,493 1,561,675 1,755,897 1,547,435
Occupancy expenses 146,305 134,141 133,739 124,396
Other operating expenses 35 2,854,509 2,720,203 2,915,325 2,828,007
8,144,450 7,699,827 7,969,647 7,519,016

Profit before tax 6,919,951 5,780,041 6,892,334 5,728,821

Provision for income tax 36 1,426,911 1,299,975 1,403,030 1,292,350

Profit for the year P 5,493,040 P 4,480,066 P 5,489,304 P 4,436,471

Attributable to:
Equity holder of DBP P 5,493,111 P 4,480,128
Non-controlling interest (71) (62)

P 5,493,040 P 4,480,066
Earnings per share for net income attributable to
the equity holder of DBP during the year P 31.39 P 25.60 P 31.37 P 25.35

See accompanying Notes to financial statements.

78 D B P. S T R O N G A N D B R I L L I A N T @ 70
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Customer Concern Corporate Citizenship Statements and Services Network for Growth

STATEMENT OF PROFIT OR LOSS

AND OTHER COMPREHENSIVE INCOME
For the Years Ended December 31, 2017 and 2016
(In thousand pesos)

Group Parent
Restated Restated
Note 2017 2016 2017 2016

Profit for the Year P 5,493,040 P 4,480,066 P 5,489,304 P 4,436,471

Other comprehensive income/(loss)

Items that may be reclassified subsequently to profit or loss:

Net unrealized gains on securities 33 460,807 (381,455) 460,838 (381,454)

460,807 (381,455) 460,838 (381,454)

Total Comprehensive Income for the Year P 5,953,847 P 4,098,611 P 5,950,142 P 4,055,017

Attributable to:
Equity holder of DBP 5,953,918 4,098,673
Non-controlling interest (71) (62)

P 5,953,847 P 4,098,611

See accompanying Notes to financial statements.

2017 ANNUAL REPORT 79

Report to The Start of Strong and DBP @ 70. Strong and A Legacy of Strong and
Stakeholders Brilliance Brilliant DBP Our Story to Tell Brilliant Strength and Brilliant People
Governance Brilliance

STATEMENT OF CASH FLOWS

For the Years Ended December 31, 2017 and 2016
(In thousand pesos)

Group Parent
As restated As restated
Note 2017 2016 2017 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Interest income received 18,697,207 16,049,840 18,443,422 16,206,735
Interest expense paid (7,497,363) (7,549,101) (7,549,007) (7,514,393)
Bank commission, service charges and fees received 808,168 516,833 805,786 514,828
Profits from investment and securities trading 188,891 525,044 188,891 525,044
Dividend and other income/(loss) received/(paid) 1,124,889 1,681,044 992,275 1,490,749
General and administrative expenses paid (7,427,322) (6,739,273) (7,004,168) (6,612,484)
Changes in operating assets and liabilities:
(Increase) Decrease in operating assets:
Financial assets at fair value thru profit or loss 7,244,859 (10,514,842) 7,244,859 (10,514,842)
Loans and receivables (17,766,697) (24,779,954) (17,908,379) (24,109,212)
Non-current assets held for sale (81,040) (20,668) (81,040) (24,412)
Other assets 3,817,105 (4,734,739) 3,944,853 (4,844,374)
Increase (Decrease) in operating liabilities:
Deposit liabilities 52,452,462 30,368,500 52,317,248 30,478,133
Due to Bangko Sentral ng Pilipinas/other banks (954) 1,305 (1,006) 1,358
Manager’s checks and demand drafts outstanding (446,403) 84,172 (446,432) 84,171
Accrued taxes, interest and expenses 150,628 756,018 179,935 708,713
Deferred credits and other liabilities 59,421 (3,395,578) 318,802 (3,862,560)
Cash provided/(used) in operating activities 51,323,851 (7,751,399) 51,446,039 (7,472,546)
Income taxes paid (1,333,629) (1,065,723) (1,309,749) (1,058,099)
Payment for PERA/ADCOM allowance (231,505) - (231,505) -
Net cash provided/(used) in operating activities 49,758,717 (8,817,122) 49,904,785 (8,530,645)

CASH FLOWS FROM INVESTING ACTIVITIES

(Increase) Decrease in:
Financial assets available for sale (4,281,322) 14,587,747 (4,281,322) 14,589,347
Financial assets held to maturity 601,282 (5,459,743) 602,664 (5,459,958)
Equity investment in associates and joint ventures 2,787 (12,115) - -
Bank premises, furnitures, fixtures and equipment (251,062) (692,804) (247,415) (684,591)
Investment properties 195,948 433,733 195,948 433,732
Intangible assets (116,159) (166,544) (115,502) (165,662)
Net cash provided/(used) in investing activities (3,848,526) 8,690,274 (3,845,627) 8,712,868

CASH FLOWS FROM FINANCING ACTIVITIES

Increase (Decrease) in:
Borrowings (4,088,098) (1,279,262) (4,301,470) (1,472,365)
Cash dividends paid (2,524,273) (2,365,215) (2,516,158) (2,341,125)
Redemption of Tier 2 Capital - (5,650,000) (5,650,000)
National Government Capital Infusion - 5,000,000 5,000,000
Net cash provided/(used) in financing activities (6,612,371) (4,294,477) (6,817,628) (4,463,490)

EFFECTS OF EXCHANGE RATE CHANGES ON CASH

AND CASH EQUIVALENTS (2,120,064) 361,687 (2,120,064) 361,687
NET INCREASE IN CASH AND CASH EQUIVALENTS 37,177,756 (4,059,638) 37,121,466 (3,919,580)
Cash and cash equivalents 7
Beginning of year 137,317,740 141,377,378 136,910,861 140,830,441
End of year 174,495,496 137,317,740 174,032,327 136,910,861

See accompanying Notes to financial statements.

80 D B P. S T R O N G A N D B R I L L I A N T @ 70
STATEMENT OF CHANGES IN CAPITAL FUNDS
For the Years Ended December 31, 2017 and 2016
(In thousand pesos, except per share amounts)
GROUP PARENT
Attributable to Equity holder of DBP
Accumulated Accumulated
Retained Other Retained Other
Capital Retained Earnings Comprehensive Non- Capital Retained Earnings Comprehensive
Stock Earnings Reserves Income/(Loss) Controlling Total Stock Earnings Reserves Income/(Loss) Total
(Note 32) (Note 33) (Note 32) (Note 33)

BALANCE AT DECEMBER 31, 2015 12,500,000 31,047,607 247,946 (5,978,389) (545) 37,816,619 12,500,000 31,145,981 227,946 (5,973,012) 37,900,915
Adjustments (750) (2) (752)
Restated Balance at December 31, 2015 12,500,000 31,046,857 247,946 (5,978,389) (547) 37,815,867 12,500,000 31,145,981 227,946 (5,973,012) 37,900,915

Comprehensive income
Net income 4,480,128 (62) 4,480,066 4,436,471 4,436,471
Other comprehensive income for the year (4,473,411) 4,091,956 (381,455) (4,473,411) 4,091,957 (381,454)
Total comprehensive income for the year - 6,717 - 4,091,956 (62) 4,098,611 - (36,940.00) - 4,091,957 4,055,017

Transaction with owner

Cash dividends - 2015 (P13.51 per share - Group) (2,364,265) (2,364,265) (2,341,125) (2,341,125)
(P13.38 per share - Parent)
Issuance of shares during the year 5,000,000 5,000,000 5,000,000 5,000,000
5,000,000 (2,364,265) - - - 2,635,735 5,000,000 (2,341,125) - - 2,658,875

Transfer to (from) Surplus Free

Trust reserve (2,624) 2,624 - (2,624) 2,624 0

Adjustments
Reversal of over-accrued trust income
as approved by COA (7,788) (7,788) (7,788) (7,788)
Set up of Deferred Tax Assets (DTA)
for 2014 and 2015 84,619 84,619 84,619 84,619
Equity Rental Payments (ERP) on MRTC shares 198,242 198,242 198,242 198,242
Other Adjustments (199) (199) -
- 274,874 - - - 274,874 - 275,073 - - 275,073

BALANCE AT DECEMBER 31, 2016 17,500,000 28,961,559 250,570 (1,886,433) (609) 44,825,087 17,500,000 29,040,365 230,570 (1,881,055) 44,889,880

Comprehensive income
Net income 5,493,111 (71) 5,493,040 5,489,304 5,489,304
Other comprehensive income for the year 460,807 460,807 0 460,838 460,838
Total comprehensive income for the year - 5,493,111 - 460,807 (71) 5,953,847 0 5,489,304 0 460,838 5,950,142

Transaction with owner

Cash dividends - 2016 (P14.42 per share - Group) (2,524,272) (2,524,272) (2,516,158) (2,516,158)
(P14.38 per share - Parent)

Transfer to (from) Surplus Free

Trust reserve (1,279) 1,279 - (1,279) 1,279 0

Adjustments
Payment of PERA & Additional Compensation
covering CYs 2006 to 2016 (231,505) (231,505) (231,505) (231,505)
Reclassification of Semi-Expendable Items
per COA Circular 2016-006 (7,516) (7,516) (7,516) (7,516)
Other Adjustments 117 117 -
- (238,904) - - - (238,904) - (239,021) - - (239,021)

BALANCE AT DECEMBER 31, 2017 17,500,000 31,690,215 251,849 (1,425,626) (680) 48,015,758 17,500,000 31,773,211 231,849 (1,420,217) 48,084,843
Report to The Start of Strong and DBP @ 70. Strong and A Legacy of Strong and
Stakeholders Brilliance Brilliant DBP Our Story to Tell Brilliant Strength and Brilliant People
Governance Brilliance

DBP
SUBSIDIARIES

DBP Data Center, Inc. (DCI) has supported DBP’s • PNP Online Police Clearance (Cebu City) – Ongoing
Information Technology infrastructure for the past 35 years. Online Application as part of the PNP’s National Police
In 2017, DCI continued to focus primarily on assisting the Clearance Project implemented in Q1 of 2017.
bank’s initiatives on various bank products by providing • Professional Regulations Commission – Online Payment
the workforce for the development and maintenance of and Collection System related to Professional Licenses.
DBP’s systems and applications. As of 31 December 2017, • Bangko Sentral ng Pilipinas – A project entailing
DCI has a total of 99 employees composed of 61 regular supply, delivery, installation, configuration, testing and
personnel and 38 contractual staff. implementation of a Human Resource Information System.
DCI seeks opportunities to increase revenues by • Bureau of Treasury (BTr) – Consulting Services to
expanding its customer base that include government enhance IT infrastructure and strengthen ICT capacity
agencies and instrumentalities. Aligned with its strategic to address the BTr’s IT requirements and gaps.
plan for 2017-2020, DCI pursued an aggressive business plan
to deliver high-quality services, build an excellent team, GROSS REVENUES
and capture competitive market share in the industry. DCI gross revenues of Php147.67-million as of
In 2017, DCI focused on projects for government 31 December 2017 was 35 percent lower than last year’s
agencies and instrumentalities such as: Php227.27-million and 42 percent under the budget of
Php252.85-million.
• Zamboanga Del Norte Medical Center – On-going
five-year project involving the design of a Hospital EXPENSES
Information System (HIS) DCI’s expenses of Php145.97-million as of
• Bureau of Customs – Completed as project on Cyber 31 December 2017 is Php63.70-million lower than the
Security package solution 2016 expenses of Php209.67-million and Php76.22-million
• Jose B. Lingad Memorial Regional Hospital – A five-year lower than the budget of Php222.19-million.
HIS BPO project
• Cooperative Development Authority – Software EARNINGS
development of the Cooperative Member Registry As of end 2017, DCI recorded Php1.73-million
System that will allow cooperatives to upload and earnings before tax (EBT). This is 90 percent less than the
update information for and about members 31 December 2016 EBT of Php17.64-million and 94 percent
• Philippine Economic Zone Authority (PEZA) – A system off the budget of Php30.72-million due to postponed success
development project enhancing PEZA’s existing Billing on Non-DBP projects and reduced income from DBP.
and Collection System, Electronic Application for
Registration System and Engineering Permit Application
Monitoring System.

Profit and Loss Summary (in million pesos)

Year-End 2017 Year-End

2017 2017 Year-End
VS
Year-End % VS %
December December 2016
Budget 2017 Budget
2017 2016 Year-End

Revenue 147.67 227.27 252.85 (79.60) (35) (105.18) (42)

OPEX:
Total Expense 145.97 209.67 222.19 63.70 30 76.22 34
Interest (Inc/Exp) 0.03 0.04 0.06 (0.01) (25) (0.03) (50)
EBT 1.73 17.64 30.72 (15.91) (90) (28.99) (94)
Prov for Tax 0.51 5.28 9.20 4.77 90 8.69 94
Net Earnings (loss) 1.22 12.36 21.52 (11.14) (90) (20.30) (94)

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Strong and Brilliant Strong and Brilliant DBP Senior Officers Audited Financial DBP Subsidiaries DBP Products DBP Expanded
Customer Concern Corporate Citizenship Statements and Services Network for Growth

DBP Leasing Corporation (DBPLC) sustained its Owing to its profitable operations from 2015 to 2017,
strong performance as its leasing and loan portfolio the total mandatory dividends that DBPLC has remitted to
grew by 15.83 percent — from Php2.26-billion in 2016 to the National Treasury amounted to Php48.27-million.
Php2.61-billion in 2017. This pushed its ranking in the leasing DBPLC’s market reach also expanded with its customer
and financing industry from its ranking of 17th in 2014. count reaching 45 institutional clients from 21 accounts
Gross income increased by 9.61 percent to in 2013, while serving 24 industry sub-sectors compared to
Php185.72-million and EBITDA rate was posted at only two in 2013. Private industries benefitting from the
13.52 percent, improving from the previous year’s company’s financing products include sea and land freight and
12.67 percent. Net income after tax amounted to passenger transport, construction, logistics, public transport,
Php64.73-million, slightly lower than the Php67.98-million and manufacturing. It has financed more than 500 units of
achieved in 2016. The decrease was due to the substantial different types of equipment, deployed in various parts of
income tax payment of Php22.39-million in 2017 vs only the country.
Php1.43-million in 2016. The minimal income tax liability DBPLC aims to increase its market coverage towards
in 2016 resulted from the Php25.25 million in tax savings improved participation in financing SMEs that belong to the
accruing to the company from the impairment losses booked priority industries and programs of parent DBP. It will target
during the previous years. DBPLC‘s positive bottom line in 2017 more clients from regional growth centers directly and in
marked the third consecutive year that the company registered collaboration with DBP provincial branches and lending offices.
profitable results, an outstanding turn-around from three years DBPLC ensures continuous sources of funding,
of successive losses suffered from 2012-14. with aggregate credit lines available to the company
amounting to Php3-billion granted by 10 of the country’s
leading banks.

Key Financial Indicators (in million pesos) 2017 2016 2015 2014
Leasing and Financing Portfolio, net 2,613.52 2,253.33 1,848.59 735.48
Total Assets 2,669.99 2,330.25 2,042.32 1,206.05
Gross Income 185.72 169.43 106.51 56.22
EBITDA 145.05 128.90 70.20 23.69
EBITDA Rate 13.52% 12.67% 7.62% 3.22%
Net Income (Loss) 64.73 67.98 25.78 (54.19)
ROE-NIAT 6.03% 6.68% 2.80% -7.37%
Stockholder’s Equity 1,104.40 1,041.60 993.76 847.97
% of ROPA to Total Assets 0.61% 0.75% 6.32% 13.41%

The DBP Management Corporation (DBP-MC) was DBP-MC established a remittance office in Hong Kong
created in 1981 primarily to assist DBP in the management in September 2005 in pursuit of DBP’s remittance business
of its distressed accounts and disposal of acquired assets. and other related activities. This was aligned with the
DBP-MC’s mandate was to purchase, or otherwise dispose Bank’s strategy of promoting its OFW remittance program in
of real and personal property of every kind and description, support of the National Government’s directions at the time.
and to carry on and manage the general business of The venture required the increase in DBP-MC’s capitalization
any company. from Php10-million to Php500-million, of which DBP

2017 ANNUAL REPORT 83

Report to The Start of Strong and DBP @ 70. Strong and A Legacy of Strong and
Stakeholders Brilliance Brilliant DBP Our Story to Tell Brilliant Strength and Brilliant People
Governance Brilliance

subscribed and paid for an additional Php35-million As of 31 December 2017, DBP-MC’s assets amounted
capital stock. to Php71.39-million with net income for the year of
The Hong Kong office was closed in December 2014 Php1.046-million derived mainly from dividend on
following a shift in the Bank’s strategy and business model for investment and interest on time deposit.
its remittance business. Final deregistration and subsequent Having been classified by the Governance Commission
dissolution of the DBP Remittance Center Hong Kong Ltd. for GOCCs (GCG) as “Inactive” since April 2016, DBP-MC
was made on 24 February 2017 based on a notice issued by mainly functions as a support unit of DBP as winding down
the Hong Kong Companies Registry. activities continue.

Al-Amanah Islamic Investment Bank of the Philippines Total gross earnings mainly came from Loans and
(AAIIBP) is a universal bank authorized to perform and Financing and Investments/ODFs which made up 46 percent
provide Islamic banking, financing and investment services. and 43 percent of the total earnings, respectively. Of the
It is the first and only Islamic bank in the Philippines. total income from Loans & Financing, Php1.74-million was
from Islamic Financing and Php10.6-million was from
FINANCIAL PERFORMANCE conventional loans.
The bank maintained a positive gross margin of Fifty-three percent of expenses were related to
Php26.42-million in 2017. The total operating expense for the personnel services while 46 percent was incurred for
calendar year was Php85.51 million, resulting in a cumulative maintenance and other operating expenses. The remaining
net loss of Php59.09-million. 1 percent represented cost of funds.

Actual Amount Full Year Realization

Financial Performance (in million pesos) as of Variance
Target CY 2017 Rate
Dec. 31, 2017
Income from Loans and Financing 12.34 20.71 (8.37) 59%
Income from Investments/ODFs 11.70 2.89 8.81 405%
Other Income 3.07 1.50 1.57 207%
Gross Earnings 27.11 25.10 2.01 108%
Cost of Funds 0.69 3.59 (2.9) 19%
Gross Margin 26.42 21.51 4.91 123%
Operating Expenses
Personal Services 45.97 60.74 (14.17) 76%
Maintenance and other Operating 39.54 63.55 (24.01) 62%
Total Operating Expenses 85.51 126.33 (40.82) 68%

Net Loss (59.09) (104.82) (45.73) 56%

84 D B P. S T R O N G A N D B R I L L I A N T @ 70
Strong and Brilliant Strong and Brilliant DBP Senior Officers Audited Financial DBP Subsidiaries DBP Products DBP Expanded
Customer Concern Corporate Citizenship Statements and Services Network for Growth

2017 ACTUAL VS. TARGETS Composition of Loans and Financing as to different

classifications is shown below:
Income
The Bank projected total earnings of Php25.10-million for Credit Portfolio Amount %
CY 2017. This target was composed of Php20.71-million income As of Dec. 31, 2017 (in million pesos)

from loans and financing, Php2.89-million interest income from By Type

investments and Php1.50-million from other sources. Total 211.29 100.0%
Conventional Loans 131.30 62.02%
The bank realized only 59%, or Php12.34-million,
Islamic Financing 80.26 37.98%
of its targeted income from Loans and Financing that
amounted to Php20.71-million. Income from Investments/ODFs By Type of Borrower
and Other Non-Operating Income exceeded the budget Total 211.29 100.0%
by Php8.81-million and Php1.57-million, respectively. LGU/GOCCs 85.11 40.3%
Actual gross earnings, amounting to Php27.11-million MSMEs 96.63 45.7%
Private Corporation 13.00 6.1%
exceeded the budget of Php25.10-million by Php2.01-million,
Agrarian Reform/Agricultural 1.57 0.7%
resulting to a realization rate of 108%. Individuals 14.98 7.1%

Expenses By Type of Industry

Total operating expenses of Php85.51-million was below Total 211.29 100.0%
Water Supply 58.90 27.9%
the annual budget of Php126.33-million due to cost-savings
Public Administration and Defense 26.21 12.4%
from the expected transfer of the bank’s Makati Branch and Real Estate Activities 13.40 6.3%
trainings. Construction 32.69 15.5%
Mining and Quarrying 8.67 4.1%
Net Loss Manufacturing 7.60 3.6%
The actual net loss of Php59.09-million is less than Wholesale and Retail Trade 36.76 17.4%
Agriculture 5.74 2.7%
the projected net loss of Php104.82-million, effecting a Human Health and 3.23 1.5%
realization rate of 56%. Social Work Activities
Administrative, support & service 14.78 6.9%
3.31 1.6%
Actual
Full Year By Status
Financial Condition Amount Realization
Projection Variance
(in million pesos) as of Dec. Rate Total 211.29 100.0%
CY 2017
31, 2017 Current 206.56 97.8%
Total Resources 734.20 627.10 107.10 117% Past Due/Under ligitation 4.73 2.2%
Total Liabilities 495.56 431.15 (64.41) 115%
Total Equity 238.64 195.95 42.69 122%

Loans and Financing, gross 211.29 Deposits

Deposit Liabilities 463.49 Al Amanah’s deposit level to date is Php463.48-million,
or an increase of Php158.86-million (mostly conventional
Resources deposits) from previous year’s Php304.62-million balance.
Total resources stood at Php734.2-million, attaining A total of Php396.38-million or 85.5 percent are conventional
deposits and the remaining Php67.1-million or 14.5 percent
a realization rate of 117 percent of the projected amount.
are Islamic deposits. Of the total amount, Php174.46-million or
In comparison to Php626.6 million as audited for 2016,
37.6 percent are government deposits while private deposits
there is an increase of Php107.1-million in total resources. amount to Php289.02-million, equivalent to 62.4 percent.
This is the positive effect of the DOF Department Circular No.
01-2017 dated 11 May 2017 or the Amended Guidelines on MODIFIED SALARY SCHEDULE
Authorized Government Depository Banks. In 2017, Al Amanah adopted the Modified Salary
Schedule (MSS) under Executive Order No. 201, series 2016,
Loans and Financing pursuant to EO No. 36, series 2017, and its Implementing
The Bank expected to close the year 2017 with a Rules and Regulations. Before the release of its 2017 financial
minimum outstanding loans and financing balance statements on 13 March 2018, the Bank received a letter
of Php326.05-million. The bank realized 65% of the dated 31 January 2018 from the Governance Commission
for GOCCs authorizing the adoption of MSS.
expected outstanding loans and financing balance of
Personal services as of 31 December 2017 was adjusted to
Php211.64-million. The gross outstanding loan balance of
include the differential pay.
Php211.64-million was 98 percent current accounts, while
the remainder represented past due loans and financing
restructured in May 2016.

2017 ANNUAL REPORT 85

Report to The Start of Strong and DBP @ 70. Strong and A Legacy of Strong and
Stakeholders Brilliance Brilliant DBP Our Story to Tell Brilliant Strength and Brilliant People
Governance Brilliance

DBP PRODUCTS AND SERVICES

c. Water for Every Resident (WATER) Program
CORPORATE BANKING Eligible Projects: Source development for distribution
1. Term Loans – Credit Transactions with a specific stipulated or for bulk water supply; water transmission and/
limit and maturity date of more than one year. It is or distribution system rehabilitation, expansion
not reusable, is liquidating in nature through a repayment and upgrading; development/installation of water
program and payable in full at maturity date. Financing may treatment facilities/equipment; Investment for Non-
either be bilateral or syndicated; may be in the form of Bonds Revenue Water reduction or other efficiency-enhancing
and Corporate Notes issuances. measures; purchase of necessary tools and equipment;
2. Short Term Loans/Credit Lines – Credit facility available investment for climate change adaptation technologies
to a client for use and reuse up to the specified limit (e.g. rain water collection system)
unless amended, revised or revoked and has maturity of one d. Infrastructure Contractor Support (ICONS) Program
year or less. These are utilized to finance specific components Eligible Projects: Social infrastructure (e.g.
of a borrower’s working capital requirements. Credit lines residential buildings from single-family dwellings
available are as follows: to high-rise buildings, non-residential buildings);
a. Revolving Promissory Note Line (RPNL) – a standby transport infrastructure; water supply, wastewater,
facility for working capital requirements. Drawdown sanitation and other utility infrastructure;
against the line with a term up to one year and payable communications infrastructure; waste infrastructure;
upon maturity of Promissory Notes. The specific purpose power and energy infrastructure
may include, among others, the following: e. Program Assistance to Support Alternative Driving
• Receivable discounting Approaches (PASADA)
• Increase in account receivables Eligible Projects: Purchase of brand new PUVs that are
• Inventory build up compliant with the vehicle standards defined in the OFG
3. Letter of Credit / Trust Receipt – a facility for working capital and in subsequent department orders and memorandum
against trade documents. Drawn in compliance with the letter circulars of DOTr and LTRFB; acquisition and/or
of credit terms. construction of support facilities (e.g. off-street garage/
4. Standby Letter – a special type of LC covered by BSP MORB 347 terminal) and acquisition of equipment necessary for
and International Trade Law ISP 98. Standby LC may either be the proper operations and maintenance of the PUVs
in the form of a guarantee or payment. 2. Environment
5. Export Packing Credit Line – a loan given to the exporter for a. Green Financing Program (GFP)
the purchase of raw materials or for the manufacture of goods Eligible Projects: Air pollution prevention and control;
intended for sale. It is a pre-shipment financing facility where water pollution prevention and control; solid and
an exporter can borrow working capital for export productions, hazardous waste management; resource conservation,
the term of the loan shall not exceed the expiry of the date of resource efficiency and cleaner production; climate
the LC. change adaptation and mitigation and disaster risk
6. Export Advance – payments/ remittances received before reduction; other environmental/green projects/initiatives
shipping, including Prepayment and Red Clause advances. 3. Social Services
Bank draft/telegraphic transfer, buyer’s checks or acceptable a. Residential Real Estate Financing Program (RREFP)
foreign currency notes may be used in prepayment/export Eligible Projects: Land acquisition; site development
advance but for buyer’s checks, the same shall be cleared and shelter construction; housing microfinance;
before shipment. project preparation
7. Export LC Advising – advise the arrival of LC and release to the b. Strategic Healthcare Investments for Enhanced Lending
exporter upon payment of bank fees without obligation on the and Development (SHIELD)
part of the bank. Eligible Projects: Development and construction of
8. Back to Back Deals – Loans secured by placements or deposits hospitals and other health care facilities; renovation/
(1:1 loans). expansion works for health care facilities; acquisition/
9. Bill Purchased Line – Facility wherein the Bank purchases local leasing of health care equipment; working capital
checks/ negotiable instruments for collection from other banks requirements of health care institutions; refinancing
which are either encashed or credited to the customer’s accounts. of existing eligible loans for the health sector;
purchase of hospital/clinic/health facility inventory
DEVELOPMENT BANKING c. DBP Educational Fund Program
1. Infrastructure and Logistics Eligible Projects: For LGUs & Public/Private Educational
a. Connecting Rural Urban Intermodal Systems Efficiently Institutions (EI) -- lot acquisition and infrastructure;
(CRUISE Program) purchase of lot and construction, repair or renovation
Eligible Projects: Road transport infrastructure and of classrooms, libraries, laboratories, restrooms,
services; water transport infrastructure and services; recreational areas, study areas, audio-visual rooms,
air transport infrastructure and services; rail transport and other school facilities/buildings; furniture and
infrastructure and services; urban mass transport systems equipment; purchase of furniture and equipment;
and non-motorized facilities; logistics infrastructure supplies and materials. purchase of school supplies
and services; tourism infrastructure and services; and materials (this component shall not be eligible
project-related information and communication as a stand-alone project); working capital; funding
technologies (ICT) requirements; project-related climate requirements for operations or to implement school
change adaptation/risk mitigation projects programs and activities; other projects such as funding to
b. Financing Utilities for Sustainable Energy Development award scholarships for teachers, local and international
Program (FUSED Program) education-related travels and other development
Eligible Projects: Development of renewable energy and programs. For Onlending to Students– Cost of tuition,
conventional energy to address power supply system board and lodging, books, uniform, school materials,
constraint; power distribution and transmission projects review and licensure fees, travel documentation,
that will expand service connection and improve power travel fees, airfare, and other training fees
supply system safety, reliability, efficiency; purchase 4. Micro, Small and Medium Enterprises
of necessary equipment (hardware and software), a. Retail Lending for Micro and Small Enterprises
service vehicles, tools, and other non-network projects; Eligible Projects: All types of projects of a qualified MSE
other projects deemed necessary to support the borrower shall be eligible for MSE financing, except those
electricity service provider’s operation undertaken for unlawful purposes, or those which may
pose a risk to health, national security and the environment

86 D B P. S T R O N G A N D B R I L L I A N T @ 70
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Customer Concern Corporate Citizenship Statements and Services Network for Growth

b. DBP Credit Surety Fund Credit Facility d. Safekeeping Services

Eligible Projects: All types of projects except those e. Legislated and Quasi-judicial Trust
undertaken for unlawful purposes, or those which may pose • Credit Surety Funds
a risk to health, national security and the environment. f. Personal Management Trust
c. Sustainable Agribusiness Financing Program (SAFP) g. Directors’ and Officers’ Liability Fund (DOLF)
Eligible Projects: All agri-business projects; poultry, h. Corporate Fiduciary Services
livestock, fishery including cattle/goat dairy production, • Mortgage/Collateral Trust Indenture
cattle breeding cum fattening, swine production, • Facility/Loan Agency
goat raising, fish production and harvest, processing • Public Trusteeship
to marketing of meat and other products/by-products, • Debt Service Reserve Account
and other food production; investment in bio-fuel • Special Purpose Vehicle Trust
feedstock projects such as production of coconut, • Transfer and Paying Agent
sugar, cassava, sweet sorghum, palm oil, etc., including • Depository and Reorganization*
post-harvest facilities, processing to marketing; i. Pre-need Accounts*
production of organic products or the whole value chain; j. Life Insurance Trust*
and manufacturing and distribution of farm machinery, k. Personal Pension Fund*
equipment and supplies l. Personal Retirement Fund*
d. Tree Plantation Financing Program (TPFP) m. Court Trust*
Eligible Projects: Furniture making and other wood-based • Administratorship
products from rattan, bamboo, timber trees and other • Executorship
forest species; bio-fuels from energy producing plant and • Guardianship
tree species; latex and rubber production; extraction and n. Property Administratorship
processing of essence from ilang-ilang and similar trees;
processing of leaves/other parts for herbals, pesticides, *Available but not regularly offered
pharmaceuticals and other medicinal products;
food/fruit processing; production of planting stocks/ CORPORATE FINANCE
nursery operations; development of project sites as 1. Capital Markets
eco-tourism destination; other related enterprises a. Issue Management
e. Overseas Filipino Workers Reintegration Program (OFW-RP) Tailored solutions to corporate and public sector
Eligible Projects: All type of projects of a qualified clients who are looking at tapping the investing public
OFW-RP borrower shall be eligible for financing, and institutional investors to raise funds. DBP offers
except those undertaken for unlawful purposes, or those innovative financing structures that cater to the unique
which may pose risks to health, national security and requirement of issuers and investors alike, as well as
the environment. government regulators, to ensure a successful issuance
f. Inclusive Lending for Aspiring Women (ILAW) on a timely and cost-effective manner.
Entrepreneurs Program b. Fixed-Income Underwriting
Eligible Projects: All types of projects except those DBP capitalizes on its experience with various fund-
undertaken for unlawful purposes, or those which may raising activities in the credit evaluation of investment
pose a risk to health, national security and the environment securities and loan arrangements to determine the
g. DBP Bankability Enhancement for SETUP Technopreneurs appropriate distribution channel to ensure the success of
(DBP BEST) the arrangement.
Eligible Projects: All type of projects of micro, small and c. Loan Syndication/Arrangement
medium enterprises, with priority to those owned and/or DBP lends its expertise in coming up with appropriate
managed by SETUP Technopreneurs financing structures via syndicated loans, wherein
h. Broiler Contract Growing Program (BCGP) DBP manages the fund raising on behalf of the client
Eligible Projects: Farm development; farm acquisition; and acts as the central point of contact to facilitate
farm expansion/rehabilitation information sharing among lenders and other parties for
i. SAFP-Dairy more cost-and time-efficient fund-raising process.
Eligible Projects: Breeding; stock acquisition; growing/ 2. Investment Banking
rearing; building and improvements; milking/ processing a. Structuring/Project Finance and Loan Syndication/
machinery, equipment, and tools for fabrication Arrangement
and maintenance; milk production and processing; DBP assists in developing an appropriate financing
milk distribution and dealerships; feed production/ structure, particularly with a view of the financing
milling/mixing; farm facilities; purchase order; working being a limited or non-recourse facility to the sponsors.
capital; forage production; loan refinancing; other dairy- As arranger, DBP manages the process on behalf of the
related enterprises client and acts as the central point of contact to facilitate
j. Medium Enterprises and Other Business Enterprise information sharing among targeted lenders and other
(ME + OBE) Lending Program parties, such as counsel and technical advisors, for more
Eligible Projects: All types of projects of a qualified SME cost-and time-efficient fund-raising process.
borrower shall be eligible for ME and OBE financing, b. Transaction and Financial Advisory Services
except those undertaken for unlawful purposes, or DBP helps clients realize their strategic objectives by
those which may pose a risk to health, national security, providing advisory services for public-private partnerships
and the environment or joint ventures (either solicited or unsolicited),
privatizations, and for mergers and acquisitions,
among others. DBP can also provide tailor-fit solutions
TRUST BANKING required by clients.
1. Unit Investment Trust Funds
a. Unlad Kawani Money Market Fund TRADE PRODUCTS
b. Unlad Panimula Multi-Class Fund 1. Import
2. Trust and Other Fiduciary Services a. Import Letter of Credit (L/C)
a. Investment Management Account b. Foreign Standby LC
• Individual c. Document Against Payment (D/P)
• Institutional d. Document Against Acceptance (D/A)
b. Employee Benefit e. Open Account (OA)/Telegraphic Transfer (T/T)
c. Escrow f. Direct Remittance (DR)
• BIR g. Advance Payment
• POEA – Manpower Agencies
• DENR
• Other Purposes

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Report to The Start of Strong and DBP @ 70. Strong and A Legacy of Strong and
Stakeholders Brilliance Brilliant DBP Our Story to Tell Brilliant Strength and Brilliant People
Governance Brilliance

2. Export • Collection Services

a. Export LC Advising and Confirmation ƒƒ PDC Warehousing
b. Export LC Negotiation ƒƒ Auto-Debit Arrangement
c. Export Bills Purchase (EBP) ƒƒ AR Reconciliation
d. Outward Bills for Collection (OBC) • Accounts & Liquidity Management
e. Document Against Payment (D/P) ƒƒ Account Sweeping
f. Documents Against Acceptance (D/A) ƒƒ Reverse Account Sweeping
g. Open Accounts (OA)/ Telegraphic Transfer (T/T) • Disbursement Services
3. Domestic ƒƒ Bills Payment
a. Domestic LC ƒƒ Payroll
b. Domestic Standby LC ƒƒ Auto Credit Arrangement
4. Other Trade Services ƒƒ Manager’s Check
a. Shipside Bond /Bank Guarantee Issuance ƒƒ Corporate Check Writing
b. Advanced Release / Airway Bill Endorsement • Electronic Invoice Presentment & Payment (EIPP)
c. Collection of Custom Duties (Import and Export) • Value-Added Services
5. Trade Credit Facilities ƒƒ Loans Calculator
a. Trust Receipt Financing ƒƒ Cash Flow Forecaster
b. Export Advance /Packing Credit Loan vs. LC 5. Fund Transfer
a. Manager’s Check
TREASURY b. Foreign Currency Denominated Bank Draft
1. Government Securities and Corporate Securities and Dealership c. Philippine Domestic Dollar Transfer System (PDDTS)
a. Treasury Bills (Secondary Market) d. Society for Worldwide Interbank Financial
b. Fixed Rate Treasury Notes (Secondary Market ) Telecommunication (SWIFT)
c. Retail Treasury Bonds (Secondary Market) e. Real Time Gross Settlement Domestic (RTGS)
d. Dollar Denominated Bonds (Peso and US Dollar) f. PESONet
e. Corporate Bonds (Peso and Dollar) g. InstaPay
f. Capital Notes (Peso and Dollar) 6. Remittance
2. Outright FX Forward a. Credit to DBP Account
3. Foreign Currency Exchange Dealership b. Bank to Bank Credit (Any bank in the Philippines)
(minimum US$10,000.00) c. Cash Pick-Up at authorized outlets
d. Overseas Collection Arrangement for Government Agencies
BRANCH BANKING e. Aussie Padala Online Remittance Service from Australia
1. Deposit f. DBP Quick Cash Remittance
a. Savings Account 7. Special/Other Services
b. Current Account a. Bills Payment Acceptance for
c. Pensioners’ Account • BIR
d. Young Earners’ Savings Account • SSS
e. Wisdom Account (Peso and US Dollar) • PhilHealth
f. Premier Payroll Account • PLDT
g. Zero Balance Account (for eGov, eFPS/EPS Payments and • SMART
Trust Banking Group Clients) b. Deposit Pick-up and Cash Delivery Service
h. CICS-Check Warehousing c. Payroll Servicing
i. EC Card Savings Account (for OFWs) d. Servicing of Government’s Modified Disbursement
2. Term Deposit Scheme (MDS)
a. Option Savings e. NCO collection for the Bureau of the Treasury
b. Special Savings f. Central Posting of Internal Revenue Allotment (CePIRA)
c. Regular Time Deposit (Peso and US Dollar) g. Debit to One Credit to all Deposit Facility (DOCA)
d. Wisdom Time Deposit (Peso and US Dollar) h. Credit to One Debit to All Deposit Facility (CODA)
e. High Earner Time Deposit (Peso and US Dollar) i. Remote Deposit Service on Checks (RDSC)
f. Special Investor’s Resident Visa j. Foreign Currency Exchange Dealership (Non-Trade)
3. Salary Loans
4. Electronic Banking WHOLESALE BANKING (for Banks/non-banks including NGOs
a. DBP ATM Visa Chip Card and Credit/Multi-Purpose Cooperatives)
b. DBP ATM ID Card (Multifunction) 1. Revolving Credit Line for Relending to eligible sub-borrowers
c. DBP Gift Card classified as:
d. DBP Prepaid Card (Reloadable) a. Micro, small, and medium enterprises (MSMEs)
e. Point-of-Sale for Merchants b. Public School Teachers (for livelihood projects)
f. Internet Payment Gateway for Merchants c. Large domestic corporations
g. Bills Payment Facility for Merchants d. MFIs involved in wholesale lending and in accreditation
h. eGov (PhilHealth, SSS, Pag-IBIG) of other qualified financial institutions
i. Electronic Payment System/eFPS-BIR e. Cooperative members (for livelihood projects)
j. Bills Payment via DBP ATM and DBP ATM Visa Chip Card 2. Revolving Promissory Note Line (RPNL)
k. DBP Digital Banking Portal (DBP²) 3. Back-to-Bank Loans
• Standard Services 4. Domestic Bills Purchased Line
ƒƒ Account Portfolio 5. Omnibus Line
ƒƒ Transaction History 6. Participation / Purchase in Notes /Bonds
ƒƒ Fund Transfer
ƒƒ Statement of Account
• Special Services
ƒƒ Outward Remittance
ƒƒ Checkbook Reorder
ƒƒ Stop Payment Order

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Strong and Brilliant Strong and Brilliant DBP Senior Officers Audited Financial DBP Subsidiaries DBP Products DBP Expanded
Customer Concern Corporate Citizenship Statements and Services Network for Growth

DBP EXPANDED
NETWORK FOR GROWTH
BRANCH
Mandaluyong Branch Quezon Avenue Branch Lal-lo Branch
Jo-Cel Building, 29 San Roque St. G/F, RR7 BIR Bldg. Brgy. Magapit, Lal-lo, Cagayan

NETWORK
cor. Boni Avenue cor. Sct. Santiago St.  Tel.:  (078) 377-0947
Mandaluyong City and Quezon Ave., Quezon City  Fax:  (078) 377-0947
Tel.:  (02) 576-6427 Tel.:  (02) 371-2308 E-mail: lal-lo@dbp.ph
(02) 576-6441 (02) 371-2397
METRO MANILA GROUP Fax: (02) 576-6430 (02) 371-2396 Santiago Branch
DBP Bldg., Commonwealth Ave. (02) 576-6456 (02) 371-2398 Purok 7, National Highway
Diliman, Quezon City  E-mail: mandaluyong@dbp.ph Fax:  (02) 371-2395 Villasis, Santiago City
Tel.:  (02) 920-4781 E-mail: quezonave@dbp.ph Tel.: (078) 305-0916
(02) 920-4715 Manila Branch (078) 305-0405
(02) 920-4909 G/F, W.Godino Bldg. Quezon City Branch Fax:  (078) 305-0905
(02) 920-4902 No. 350 A. Villegas St. G/F, Medical Arts Bldg., Phil. Heart E-mail: santiago@dbp.ph
(02) 920-4889 Ermita, Manila 1000 Center of Asia
(02) 920-4918 Tel.: (02) 525-8669 East Avenue, Quezon City  Solano Branch
(02) 920-4717 (02) 525-8662 Tel.:  (02) 426-2246 Burgos St., Brgy. Quezon
Fax:  (02) 920-4776 (02) 525-8703 (02) 928-9156 Solano, Nueva Vizcaya 
(02) 920-4903 Fax: (02) 525-8672 (02) 927-9383 Tel.:  (078) 326-6087
E-mail: rmc-mm1@dbp.ph E-mail: manila@dbp.ph Fax:  (02) 928-0120 (078) 326-6096
E-mail: quezoncity@dbp.ph Fax:  (078) 326-6087
Alabang Branch Manila-Nakpil Branch E-mail: solano@dbp.ph
Unit 101 G/F, Admiralty Realty Corp. 1804 Leticia Bldg. San Juan Branch
1101 Madrigal Business Park  Julio Nakpil St. cor. Taft Avenue Unit GF-1, Harmonia Center Tabuk Branch
Alabang-Zapote Road Malate, Manila Ortigas Avenue No. 9 Provincial Road
Alabang, Muntinlupa City Tel.:  (02) 523-3412 Greenhills West Dagupan Centro, Tabuk City
Tel.:  (02) 552-9218 Loc. 107 (02) 523-2854 San Juan City Tel.:  (02) 818-9511 local 1606
(02) 552-9219 Loc. 101 Fax:  (02) 523-2854 Tel.: (02) 621-9803 Fax:  (02) 818-9511 local 1606
Fax:  (02) 552-9215 E-mail: nakpil@dbp.ph (02) 621-9480 E-mail: tabuk@dbp.ph
E-mail: alabang@dbp.ph Fax: (02) 621-9813
Marikina Branch E-mail: sanjuan@dbp.ph Tuguegarao Branch
Antipolo Branch No. 37 cor. Dragon Cor. Burgos & Arellano Sts.
JMK Bldg., Circumferential Road and Gil Fernando Ave. Taguig Branch Centro, Tuguegarao City
cor. P. Oliveros St., Antipolo City Midtown Subdivision G/F, Trade and Financial Tower Tel.:  (078) 844-1828
Tel.:  (02) 661-8112 San Roque, Marikina City 32nd St.Bonifacio Global City (078) 844-2386
(02) 661-8115 Tel.: (02) 477-6923 Taguig City  (078) 844-1957
Fax:  (02) 661-8113 (02) 477-6924 Tel.: (02) 478-6904 Fax:  (078) 844-1957
E-mail: antipolo@dbp.ph Fax: (02) 477-6925 (02) 478-6905 (078) 846-2381
E-mail: marikina@dbp.ph (02) 478-6483 E-mail: tuguegarao@dbp.ph
Caloocan Branch Fax:  (02) 478-6906
Caloocan Commercial Complex Muntinlupa Branch E-mail: taguig@dbp.ph Tuguegarao-RGC Branch
A. Mabini St., Caloocan City 34 National Rd., Putatan Enrile Blvd., Carig Sur
Tel.:  (02) 294-0075 Muntinlupa City 1702 Taguig-Tuktukan Branch Tuguegarao City
(02) 294-9329 Tel.:  (02) 861-5935 BSJE Building, No. 9 Gen. Luna St. Tel.:  (078) 377-1152
(02) 294-8894 (02) 861-5397 Brgy. Tuktukan, Taguig City   E-mail: tuguegaraorgc@dbp.ph
E-mail: caloocan@dbp.ph (02) 861-5934 Tel.: (02) 532-7661
Fax:  (02) 861-5398 (02) 532-7670
Camp Aguinaldo Branch E-mail: muntinlupa@dbp.ph E-mail: taguig-tuktukan@dbp.ph  WESTERN LUZON GROUP
G/F, Hen. Antonio Luna Hall M. H. del Pilar, Dagupan City
Veterans Compound Parañaque Branch Pangasinan 2400
Camp Emilio Aguinaldo Unit 14 & 15 G/F, Aseana NORTHEASTERN LUZON GROUP Tel.:  (075) 523-7836
Quezon City  Power Station, Macapagal Blvd. Second Floor, DBP Building,   (075) 529-5490
Tel.:  (02) 995-0383 cor. Bradco Ave., Parañaque City Maharlika Highway cor. Fax: (075) 523-7835
(02) 913-6017 Tel.: (02) 519-0645 Arranz St., Osmena Email Address: rmc-nwl@dbp.ph
(02) 913-6059 (02) 478-6179 City of Ilagan, Isabela 3300
Fax:  (02) 913-6005 (02) 519-5826 Tel.:  (078) 624-1380 Baguio Branch
(02) 913-6008 Fax:  (02) 478-6783 Fax: (078) 624-0877 Session Road cor.Perfecto St.
E-mail: caguinaldo@dbp.ph E-mail: paranaque@dbp.ph Email: rmc-nel@dbp.ph Baguio City
Tel.:  (074) 442-5305
Commonwealth Branch Pasay Branch Aparri Branch (074) 442-2550
DBP Bldg., Commonwealth Ave. Centro Buendia Building Maharlika Highway (074) 442-5308
Diliman, Quezon City  Sen. Gil J. Puyat Avenue Macanaya District, Aparri (074) 442-4987
Tel.:  (02) 926-1686 cor. Tramo St., Pasay City Tel.:  (078) 888-2066 (074) 442-7109
(02) 920-4791 Tel.: (02) 219-5066 (078) 822-8291 Fax:  (074) 442-5307
(02) 920-4893 (02) 219-5013 Fax.:  (078) 888-2066 E-mail: baguio@dbp.ph
(02) 920-4708 E-mail: pasay@dbp.ph E-mail: aparri@dbp.ph
(02) 920-4703 Bangui Branch
(02) 920-4892 Pasig Branch Cabarroguis Branch Legislative Bldg.,
(02) 920-4907 Unit 102, Pacific Center Bldg. Provincial Capitol Commercial Brgy. San Lorenzo, Bangui
Fax:  (02) 920-4898 33 San Miguel Avenue Bldg., Capitol Hills, San Marcos
E-mail: cmwealth@dbp.ph Ortigas Center, Pasig City Cabarroguis Ilocos Norte
Tel.: (02) 576-6274 Tel.: (0917) 700-5045 Tel.: (02) 401-6571, 401-6568
Makati-F. Zobel Branch (02) 576-4098 E-mail: cabarroguis@dbp.ph E-mail: bangui@dbp.ph
G/F, Lasala Building II (02) 576-6272
Lot 12 Block 1, F. Zobel St. (02) 576-6292 Ilagan Branch Cabugao Extension Office 
Brgy. Poblacion, Makati City Fax : (02) 576-6272 Arranz St., Osmeña Cabugao Commercial Center
Tel.:  (02) 556-1110 E-mail: pasig@dbp.ph City of Ilagan, Isabela 3300 National Highway
Fax:  (02) 556-1100 Tel.: (078) 624-2145 Rizal Cabugao, Ilocos Sur
E-mail: makati@dbp.ph (02) 818-9511 loc. 1556 Tel.: (077) 604-1151
Fax:  (078) 624-2145 (077) 604-1152
E-mail: ilagan@dbp.ph E-mail: cabugao@dbp.ph

2017 ANNUAL REPORT 89

Report to The Start of Strong and DBP @ 70. Strong and A Legacy of Strong and
Stakeholders Brilliance Brilliant DBP Our Story to Tell Brilliant Strength and Brilliant People
Governance Brilliance

Dagupan Branch  Guagua Branch Calapan Branch Daet Branch

M. H. del Pilar St., Dagupan City Mary The Queen College Building Roxas Dr., Sto. Nino Magallanes Iraya St.
Tel.: (075) 522-0986 Jose Abad Santos Ave. Calapan City Daet, Camarines Norte 
(075) 522-0597 Brgy. San Matias,Guagua Tel.: (043) 288-4399 Tel.: (054) 440-0762
(075) 515-4403 Pampanga Fax:  (043) 441-0217 (054) 440-0757
(075) 515-8536 Tel:  (045) 432-0098 E-mail: calapan@dbp.ph Fax:  (054) 440-0765
Fax:  (075) 522-2696 (045) 432-0099 E-mail: daet@dbp.ph
E-mail: dagupan@dbp.ph E-mail: guagua@dbp.ph Dasmariñas Branch
Aguinaldo Highway Guinobatan Branch
Laoag Branch Malolos Branch Dasmarinas, Cavite  SB Building, Rizal St.
A.G. Tupaz Ave., Laoag City Paseo del Congreso Tel.: (046) 416-1389 Guinobatan, Albay
Tel.: (077) 772-0234 Brgy. Catmon (046) 850-3637 Tel.: (632) 818-9511 loc. 1597
(077) 772-1161 City of Malolos, Bulacan  Fax:  (046) 416-1390 E-mail: guinobatan@dbp.ph
(077) 771-4092 Tel.:  (044) 760-1156 E-mail: dasmarinas@dbp.ph
Fax:  (077) 772-1503 (044) 662-1589 Iriga Branch
E-mail: laoag@dbp.ph (044) 662-1589 Lipa Branch G/F, LRDC Building
Fax:  (044) 796-0324 No. 2 C.M. Recto Ave., Lipa City Msgr. Lanuza St.
Naguilian Extension Office (044) 796-0325 Tel.: (043) 756-4216 San Francisco, Iriga City
LGU Compound, Brgy. Ortiz E-mail: malolos@dbp.ph Fax:  (043) 756-4217 Tel.:  (054) 299-7570
Naguilian, La Union E-mail: lipa@dbp.ph (054) 299-7569
Tel.: (072) 888-0620 Palayan Branch 459-1208
E-mail: naguilian@dbp.ph Brgy. Singalat Lucena Branch Fax:  (054) 881-7364
Provincial Capitol Compound Merchan St., Lucena City, Quezon E-mail: iriga@dbp.ph
San Fernando (La Union) Branch Palayan City, Nueva Ecija  Tel.: (042) 373-0190
Lueco Bldg, National Hi-way Tel.: 0936-953-8650 (042) 373-0986 Legazpi Branch
Brgy. Sevilla, San Fernando City 0915-768-9456 Fax:  (042) 373-0134 Quezon Ave. 
La Union  E-mail: palayan@dbp.ph E-mail: lucena@dbp.ph Legazpi City, Albay 
Tel.:  (072) 700-0101 Tel.: (052) 820-2512
(072) 242-1664 San Fernando Puerto Princesa Branch (052) 820-1961
Fax:  (072) 242-1049 Pampanga Branch G/F, Empire Suites Hotel Rizal (052) 820-1348
E-mail: sfdo@dbp.ph Dona Isa Fel Bldg. Avenue, Puerto Princesa City (052) 480-7843
Dolores McArthur Highway Tel.: (048) 433-2358 Fax:  (052) 480-7081
Vigan Branch City of San Fernando, Pampanga  Fax:  (048) 433-2358 E-mail: legazpi@dbp.ph
L. Florentino St., Vigan City Tel.:  (045) 961-5845 E-mail: ptoprincesa@dbp.ph
Tel.:  (074) 674-2502 (045) 961-5674 Masbate Branch
Fax:  (074) 674-2501 Fax:  (045) 961-5817 Romblon Branch Cor. Danao & Mabibi Sts.
E-mail: vigan@dbp.ph E-mail: sanfernando-pampanga@dbp.ph Zaragoza St., Capaclan Masbate City
Romblon, Romblon Tel.: (056) 333-4073
Subic Branch Tel.:  (02) 968-0538 (056) 333-2947
CENTRAL LUZON GROUP G/F, Hee-Mang Bldg. (078) 429-4232 Fax:  (056) 333-2236
2/F Dona Isa Fel Bldg. Lot 3 Greenwoods Park (078) 429-5174 E-mail: masbate@dbp.ph
Dolores McArthur Highway CBD Area Subic Bay Freeport Zone  E-mail: romblon@dbp.ph
City of San Fernando Tel.:  (047) 252-3091 Naga Branch
Pampanga 2000 (047) 252-3093 San Jose Branch Panganiban Drive, Naga City
Tel.:  (045) 961-0003 Fax:  (047) 252-3090 Rizal St. cor. Quirino St. Tel.: (544) 472-641
(045) 961-4782 E-mail: subic@dbp.ph San Jose, Occ. Mindoro  (544) 473-8501
(045) 961-5674 Tel.: (043) 491-2073 (544) 472-2332
Fax:  (045) 963-1231 Tarlac Branch (043) 491-2024 (544) 472-0640
E-mail: rmc-cl@dbp.ph Macabulos Drive Fax:  (043) 491-1932 Fax:  (054) 472-4766
Tarlac City, Tarlac 2300 E-mail: sanjose@dbp.ph E-mail: naga@dbp.ph
Balanga Branch Tel.:  (045) 982-6024
Don Manuel Banzon Ave. (045) 982-0406 Santa Cruz Branch Sorsogon Branch
Balanga, Bataan  (045) 982-6038 A. Bonifacio cor. ACM Bldg. cor. Burgos
Tel.:  (047) 237-2073 Fax:  (045) 982-0885 F. Sario Sts. & Rizal Sts., Sorsogon City
(047) 237-6654 E-mail: tarlac@dbp.ph Santa Cruz, Laguna Tel.: (056) 421-6876
(047) 237-3589 Tel.:  (049) 501-5142 211-2079
Fax:  (047) 237-2073 Valenzuela Branch Fax:  (049) 501-5132 Fax:  (056) 421-6876
E-mail: balanga@dbp.ph 253-A, McArthur Highway E-mail: stacruz@dbp.ph E-mail: sorsogon@dbp.ph
Karuhatan, Valenzuela City
Baler Branch Tel: (02) 294-9823 Santa Rosa Branch Virac Branch
National Highway Tel.: (02) 294-9906 Maerix Terrace Bldg. DBP Virac Branch Old Capitol
Brgy. Suklayin Baler, Aurora E-mail: valenzuela@dbp.ph Rizal Blvd., Brgy. Tagapo Building Cor. Eustaquio St.
Tel.:  (042) 724-0007 City of Santa Rosa, Laguna  & Rizal Avenue, Sta. Elena
(042) 724-0065 Tel.:  (049) 534-2821 Virac, Catanduanes
E-mail: baler@dbp.ph SOUTHERN TAGALOG GROUP Fax:  (049) 534-2820 Tel.:  (052) 811-4116
2nd Flr., DBP Bldg. Merchan St. E-mail: starosa@dbp.ph Fax:  (052) 811-2870
Cabanatuan Branch Lucena City, Quezon   E-mail: virac@dbp.ph
Burgos Ave., cor. Gabaldon St. Tel.: (042) 373-4404 Taytay-Palawan Branch
Cabanatuan City, Nueva Ecija 3100 (042) 373-4274 G/F, RIKC Building EASTERN VISAYAS GROUP
Tel.:  (044) 463-1252 Fax:  (042) 373-4404 cor. Sto. Domingo St. 2nd Flr. DBP Bldg.
(044) 463-1160 (042) 373-4274 & National Highway Cor. Zamora & Paterno Sts.
(044) 600-2004 E-mail: rmc-st@dbp.ph Poblacion, Taytay, Palawan Tacloban City, Leyte 6500
(044) 600-0703   Tel.:  (02) 968-0546 Tel.: (053) 325-2958
Fax:  (044) 464-3536 Bacoor Branch (048) 244-2087 (053) 325-2960
E-mail: cabanatuan@dbp.ph Unit 2, Sidcor Bldg. (048) 244-2096 Fax:  (053) 325-2961
Molino Blvd., Bayanan E-mail: taytay-palawan@dbp.ph E-mail:  rmc-ev@dbp.ph
Clark Branch Bacoor City, Cavite
Pavillion I, Berthaphil III Clark Center Tel.:  (046) 435-0443 BICOL GROUP Borongan Branch
Jose Abad Santos Avenue Fax: (046) 435-0445 2/F, DBP Naga Branch Bldg. E. Cinco St., Brgy. C
Clark Freeport Zone E-mail: bacoor@dbp.ph Panganiban Drive Borongan City, Eastern Samar
Tel.:  (045) 499-1649 to 51 Naga City, Camarines Sur  Tel.: (055) 560-9080
Fax:  (045) 499-1652 Batangas City Branch Tel.: (054) 472-4728 (055) 261-2021
E-mail: clark@dbp.ph Sambat Ibaba, Kumintang (054) 472-4729 Fax:  (055) 261-2168
Batangas City Fax:  (054) 472-4727 (055) 560-9080
Tel.:  (043) 702-3400 E-mail: rmc-bicol@dbp.ph E-mail: borongan@dbp.ph
Fax:  (043) 702-3378
E-mail: batangas@dbp.ph

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Strong and Brilliant Strong and Brilliant DBP Senior Officers Audited Financial DBP Subsidiaries DBP Products DBP Expanded
Customer Concern Corporate Citizenship Statements and Services Network for Growth

Catarman Branch Mandaue Branch Kalibo Branch NORTHERN MINDANAO GROUP

390 J.P. Rizal St. Bridges Town Square DBP Bldg., Capitol Site 3/F, DBP Bldg.
Brgy. Lapu-Lapu Plaridel St. Kalibo, Aklan  Corrales Ave. cor. Tirso Neri St.
Catarman, Northern Samar Brgy. Alang-Alang Tel.: (036) 268-5126 Cagayan de Oro City
Tel.: (055) 251-8615 Mandaue City 500-8891 Tel.: (088) 722-648
(055) 500-9065 Tel.: (032) 344-4992 Fax:  (036) 268-5792 (088) 722-646
Fax:  (055) 500-9065 (032) 345-8623 E-mail: kalibo@dbp.ph (088) 723-783
(055) 251-8615 (032) 345-8624 231-4266
E-mail: catarman@dbp.ph (032) 345-8625 Pototan Branch 309-4049
Fax:  (032) 344-4993 Milagros Bldg., RY Ladrido St. Fax.:  (088) 723-316
Catbalogan Branch E-mail: mandaue@dbp.ph San Jose Ward, Pototan, Iloilo E-mail: rmc-nm@dbp.ph
G/F, Tia Anita’s Commercial Tel.: (033) 529-7461
Mabini St., Catbalogan City, Samar Tagbilaran Branch Fax:  (033) 332-1485 Cagayan de Oro Branch
Tel.: (055) 251-2046 DBP Bldg. 243 Carlos P. Garcia Ave. E-mail: pototan@dbp.ph DBP Bldg., Corrales Ave.
Fax:  (055) 251-2687 North Tagbilaran City cor. Tirso Neri St.
E-mail: catbalogan@dbp.ph Tel.: (038) 411-3103 Roxas Branch Cagayan de Oro City
(032) 412-3122  G/F, Capiz Government Tel.:  (088) 722-649
Maasin Branch (032) 412-3107 Business Center, Provincial Park (088) 857-2148
RK Kangleon St., Tunga-Tunga Fax:  (038) 411-4033 Roxas Avenue, Roxas City Fax:  (088) 856-4517
Maasin City, Southern Leyte E-mail: tagbilaran@dbp.ph Tel.: (036) 621-5096 E-mail: cagayandeoro@dbp.ph
Tel.: (053) 381-2083 (036) 621-4002
(053) 570-9954 Talisay Branch (036) 621-5413 Capistrano-CDO Branch
Fax: (053) 570-9954 South Coast Center 522-1380 Capistrano cor. J. R. Borja Sts.
(053) 381-2083 Brgy. Linao, Talisay City, Cebu Fax:  (036) 621-2438 Cagayan de Oro City
E-mail: maasin@dbp.ph Tel.:  (032) 516-0462 E-mail: roxas@dbp.ph Tel.: (088) 856-7776
(032) 516-0459 (088) 856-6154
Ormoc Branch E-mail: talisay@dbp.ph   (088) 722-819
G/F, WLC Bldg., Lopez Jaena St. NEGROS GROUP Fax.:  (088) 856-7776
Ormoc City, Leyte Toledo Branch Mezzaninne Floor, DBP Bldg. E-mail: capistrano-cdo@dbp.ph
Tel.: (053) 255-4485 Poloyapo St., Poblacion DBP Bldg. cor. South Capitol Road
(053) 561-4434 Toledo City, Cebu and Lacson Sts.,  Iligan Branch
(053) 255-4371 Tel.:  (032) 367-7313 to 15 Bacolod City Picardal Road
Fax:  (053) 561-6017 Fax:  (032) 367-7314 Tel.:  (034) 434-9378 Mahayahay, Iligan City
E-mail: ormoc@dbp.ph E-mail: toledo@dbp.ph (034) 433-4284 Tel.: (063) 221-2858
709-6094 (063) 221-8208
Tacloban Branch Tubigon Branch Fax:  (034) 434-9377 (063) 221-2857
Cor. Zamora & Paterno Sts. Holy Cross Academy Bldg. E-mail: rmc-negros@dbp.ph  Fax.:  (063) 221-3124
Tacloban City, Leyte Poblacion, Tubigon, Bohol E-mail: iligan@dbp.ph
Tel.: (053) 523-0094 Tel.:  (038) 508-8683 to 87 Bacolod Branch
(053) 321-2007 Fax: (038) 508-8684 Cor. South Capitol Road Malaybalay Branch
Fax:  (053) 325-5996 E-mail: tubigon@dbp.ph and Lacson Sts., Bacolod City Bonifacio Drive Caul
E-mail: tacloban@dbp.ph    Tel.: (034) 433-4283 Malaybalay City
Ubay Branch (034) 433-4282 Tel.: (088) 221-2134
CRU Bldg., Poblacion (034) 433-4281 Fax:  (088) 813-3682
CENTRAL VISAYAS GROUP Ubay, Bohol (034) 433-3573 E-mail: malaybalay@dbp.ph
Mezzanine Floor, DBP Bldg., Tel.: (038) 518-8861 (034) 433-3574
Osmeña Blvd., Cebu City  (038) 518-8869 Fax:  (034) 433-2303 Ozamiz Branch
Tel.: (032) 412-3505 Fax: (038) 518-8862 E-mail: bacolod@dbp.ph Burgos cor. Zamora Sts.
(053) 412-3588 E-mail: ubay@dbp.ph Ozamiz City
(053) 412-3505 Dumaguete Branch Tel.: (088) 521-0027
(053) 412-3588 Rizal Blvd., Dumaguete City (088) 521-0028
(032) 255-6324 PANAY GROUP Tel.: (035) 225-4723 Fax:  (088) 521-0032
Fax:  (032) 255-6325 Mezannine Floor, (035) 225-4338 E-mail: ozamis@dbp.ph
E-mail: rmc-cv@dbp.ph DBP Bldg. I, Dela Rama St., (035) 225-4339
Iloilo City 5000 422-9057 Valencia Branch
Bogo Branch Tel.:  (033) 337-6432 Fax:  (035) 225-5919 Tamay Lang Park Lane
Martinez Bldg. cor. (033) 337-6330 E-mail: dumaguete@dbp.ph G. Laviña Avenue
Sor D. Rubio & San Vicente Sts. 509-9505 Poblacion, Valencia City
Bogo City, Cebu Fax:  (033) 336-7567 Kabankalan Branch Tel.:  (088) 828-3316
Tel.: (032) 251-2241 E-mail: rmc-panay@dbp.ph Cor. Lirazan & Bonifacio Sts. (088) 828-3190
(032) 251-2070 Kabankalan City (088) 828-3086
(032) 434-8795 Antique Branch Tel.: (034) 471-3170 E-mail: valencia@dbp.ph
Fax:  (032) 251-2241 AVP Bldg., T. A. Fornier St. (034) 471-2285
E-mail: bogo@dbp.ph San Jose, Antique  Fax:  (034) 471-2402 Villanueva Branch
Tel.: (036) 540-9993 E-mail: kabankalan@dbp.ph National Highway
Carcar Branch Fax:  (036) 540-7848 Brgy. Katipunan
Awayan, Poblacion III E-mail: antique@dbp.ph San Carlos Branch Villanueva, Misamis Oriental
Carcar City, Cebu F.C. Ledesma Avenue Tel.: (088) 890-4761
Tel.:  (032) 487-7038 Iloilo Branch San Carlos City E-mail: villanueva@dbp.ph
Fax:  (032) 487-7138 I. de la Rama St., Iloilo City  Tel.: (034) 312-5591
266-9480 Tel.: (036) 336-2092 (034) 312-5592
E-mail: carcar@dbp.ph (036) 336-2091 729-3351 NORTH EASTERN
509-9490 Fax:  (034) 312-5158 MINDANAO GROUP
Cebu Branch Fax:  (033) 337-2224 E-mail: sancarlos@dbp.ph J. C. Aquino Avenue cor.
Osmeña Boulevard E-mail: iloilo@dbp.ph J. Rosales Ave., Butuan City 8600
Cebu City 6000 Siquijor Branch Tel.: (085) 815-6036
Tel.: (032) 412-3423 Jaro Branch Siquijor Multi-purpose Center (085) 815-2196
(032) 255-6315 E. Lopez St., Iloilo City  Mabini St., Poblacion 341-5136
(032) 412-3402 Tel.: (033) 508-8900 Siquijor, Siquijor Fax.: (085) 815-1627
(032) 255-6310 (033) 329-2422 Tel.: (035) 480-9761 E-mail: rmc-nem@dbp.ph
Fax:  (032) 253-7988 (033) 329-5230 (035) 480-9762
E-mail: cebu@dbp.ph Fax:  (033) 329-5233 Fax:  (035) 480-9761
E-mail: jaro@dbp.ph E-mail: siquijor@dbp.ph 

2017 ANNUAL REPORT 91

Report to The Start of Strong and DBP @ 70. Strong and A Legacy of Strong and
Stakeholders Brilliance Brilliant DBP Our Story to Tell Brilliant Strength and Brilliant People
Governance Brilliance

Bayugan Extension Office SOUTH EASTERN Marbel Branch Dipolog Branch

Kim Lope A. Asis Gymnasium MINDANAO GROUP Alunan Ave., Koronadal City National Highway
Poblacion, Bayugan City 2/F, DBP Bldg. South Cotabato  Turno, Dipolog City
Agusan Del Sur C. M. Recto Avenue Tel.: (083) 228-2429 Tel.: (065) 212-3404
Tel.: (085) 830-5893 Davao City 8000 (083) 228-3118 (065) 212-3414
(085) 830-5897 Tel.: (082) 221-2117 (083) 228-3119 908-0207
(082) 222-3477 (083) 228-5872 Fax:  (065) 212-4290
Butuan Branch (082) 227-2891 (083) 228-8629 E-mail: dipolog@dbp.ph
J. C. Aquino Avenue cor. (082) 222-3478 Fax:  (083) 228-3667
J. Rosales Ave., Butuan City (082) 226-4094 E-mail: marbel@dbp.ph Ipil Branch
Tel.: (085) 815-3827 Fax:  (082) 227-2891 Cor. Sucgang Avenue
(085) 815-2209 E-mail: rmc-sem@dbp.ph Polomolok Branch & Gethsemane St. 
342-6358 National Highway cor. Ipil, Zamboanga Sibugay
Fax:  (085) 815-3826 Davao Branch Juan Bayan, Brgy. Magsaysay Tel.: (062) 333-2227
E-mail: butuan@dbp.ph DBP Bldg., C. M. Recto Ave. Polomolok, South Cotabato (062) 333-2420
Davao City Tel.: (083) 225-3131 Fax:  (062) 333-2279
Claver Branch Tel.: (082) 222-8326 (083) 225-3132 E-mail: ipil@dbp.ph
Clarin St., Brgy. Tayaga (082) 227-6277  (083) 553-1566
Claver, Surigao del Norte (082) 222-3480 Fax:   (083) 553-1567 Jolo Branch
Tel.: (02) 359-9531 (082) 227-9681 E-mail: polomolok@dbp.ph Gen. Arrola St.
(02) 359-9746 (082) 227-7285 cor. Buyon St.
E-mail: claver@dbp.ph Fax:  (082) 221-2572 Tacurong Branch Jolo, Sulu
E-mail: davao@dbp.ph National Highway Tel.:  (085) 341-8911
Dinagat Islands Branch cor. Del Corro Sts. Fax: (02) 818-9511 loc 1982
G/F, Benglen Ecleo Building Digos Branch Tacurong City E-mail: jolo@dbp.ph
P-7 Poblacion, San Jose Quezon Ave., Digos City  Tel.: (064) 200-3485
Dinagat Islands Tel.: (082) 553-2933 Fax:  (064) 200-3060 Pagadian Branch
Tel.: 0917-5714229 Fax:  (082) 553-3943 E-mail: tacurong@dbp.ph Rizal Avenue
(02) 359-9541 E-mail: digos@dbp.ph Balangasan District
E-mail: sanjosedinagatisland@dbp.ph Pagadian City
Kidapawan Branch WESTERN MINDANAO GROUP Tel.: (062) 214-1448
Mangagoy Branch Quezon Blvd. Don P. Lorenzo St. Fax.:  (062) 214-1450
Saren Bldg., Espiritu St. Kidapawan City, Cotabato (Port Area), Zamboanga City  E-mail: pagadian@dbp.ph
Mangagoy, Bislig City Tel.: (064) 288-1450 Tel.: (062) 992-7365
Tel.: (086) 853-5044 (064) 288-1372 (062) 991-1316 Zamboanga Branch
Fax:  (086) 853-2245 Fax:  (064) 288-1581 (062) 992-5819 DBP Bldg. Don Pablo Lorenzo St.
E-mail: mangagoy@dbp.ph E-mail: kidapawan@dbp.ph Fax:  (062) 991-0359 (Port Area), Zamboanga City 
E-mail: rmc-wm@dbp.ph Tel.:  (062) 991-1331
San Francisco Branch Mati Branch Fax: (062) 991-1331
Orange St. cor. Rotunda Limatoc cor. Santiago Sts. Basilan Branch (062) 991-2617
San Francisco, Agusan del Sur Mati City, Davao Oriental J.S Alano St. E-mail: zamboanga@dbp.ph
Tel.: (085) 839-0439 Tel.: (087) 811-3145 Isabela City
343-8274 (087) 388-3489 Basilan  Zamboecozone Branch
Fax:  (085) 839-0439 loc. 111 (087) 811-0413 Tel.: (062) 200-3584 Zamboanga City
E-mail: sanfrancisco@dbp.ph Fax:  (087) 388-3911 Fax:  (062) 200-3585 Special Economic Zone
E-mail: mati@dbp.ph E-mail: basilan@dbp.ph Sitio San Ramon
Siargao Branch Talisayan, Zamboanga City 
Sto. Niño cor. Mabini Sts. Sta. Cruz, Davao Del Sur Branch Tel.:  (062) 983-0413
Brgy. Nueve, Dapa Sta. Cruz Public Market (062) 983-0414
Siargao Island, Surigao del Norte National Highway E-mail: zamboecozone@dbp.ph
Tel.: (02) 359-9612 Sta. Cruz, Davao Del Sur
(02) 359-9548 Tel:  (082) 286-1925  
E-mail: siargao@dbp.ph (082) 286-1916
E-mail: stacruzdavao@dbp.ph

DEVELOPMENT
Surigao Branch
Narciso St., Surigao City Tagum Branch
Tel.: (086) 826-0289 Apokon Road, Tagum City
(086) 826-1309
231-7351
Davao del Norte
Tel.:  (084) 216-7096
LENDING NETWORK
Fax:  (086) 826-1118 (082) 216-7097
E-mail: surigao@dbp.ph Fax:  (084) 655-9287
E-mail: tagum@dbp.ph NORTH & CENTRAL Ilocos Norte Lending Center
Tandag Branch LENDING GROUP (MALOLOS) (Laoag)
Purok Napo Paseo del Congreso, Brgy. Catmon [Laoag, Vigan, Bangui,
Brgy. Bagong Lungsod SOUTHERN MINDANAO GROUP City of Malolos, Bulacan Cabugao Ext. Office]
Tandag City Roxas Ave., General Santos City ncllg@dbp.ph A.G. Tupaz Avenue Laoag City,
Tel.:  (086) 211-5801 South Cotabato (044) 796-0325 Ilocos Norte 2900
(086) 211-5802 Tel.: (083) 552-2328 ilocoslendingcenter@dbp.ph
(086) 211-5804 (083) 552-4514 Bulacan Lending Center
Fax:  (086) 211-5803 (083) 301-1688 (Malolos) Cagayan Lending Center
E-mail: tandag@dbp.ph Fax:  (083) 301-1688 [Balanga, Subic, Clark, Tarlac, (Tuguegarao)
(083) 301-6110 Malolos, San-Fernando Pampanga, [Tuguegarao, Aparri, Lal-lo,
Trento Branch E-mail: rmc-sm@dbp.ph  Valenzuela, Guagua] Tabuk, Ilagan, Santiago,
National Highway Paseo del Congreso, Brgy. Catmon, Cabarruiguis, Solano]
Purok 4, Poblacion Cotabato Branch City of Malolos, Bulacan DBP Building, Burgos St. cor.
Trento, Agusan del Sur Don Rufino Alonzo St. bulacanlendingcenter@dbp.ph Arellano St. Centro,
Tel.: (085) 255-2057 Cotabato City  (044) 796-0325 Tuguegarao City, Cagayan 3500
E-mail: trento@dbp.ph Tel.: (064) 421-2367 cagayanlendingcenter@dbp.ph
(064) 421-2368 Benguet Lending Center (078) 323-1482
Fax:  (064) 421-8216 (Baguio)
E-mail: cotabato@dbp.ph [Baguio, Dagupan, Nueva Ecija Lending Center
San Fernando La Union, (Cabanatuan)
General Santos Branch Naguillan Ext. Office] [Cabanatuan, Baler, Palayan]
Roxas Avenue Session Road cor. Burgos Avenue cor.
General Santos City Perfecto St. Gabaldon St., Cabanatuan City,
Tel.: (083) 554-7821 Baguio City 2600 Nueva Ecija 3100
(083) 552-2084 benguetlendingcenter@dbp.ph SM Kristine Joy M. Yambao
(083) 301-2962 0917-523-5806
(083) 552-2961 kjmyambao@dbp.ph
Fax:  (083) 552-4514 nuevaecijalendingcenter@dbp.ph*
E-mail: gensan@dbp.ph None (temporarily via

92 D B P. S T R O N G A N D B R I L L I A N T @ 70
Cabanatuan Branch 1643)
Strong and Brilliant Strong and Brilliant DBP Senior Officers Audited Financial DBP Subsidiaries DBP Products DBP Expanded
Customer Concern Corporate Citizenship Statements and Services Network for Growth

SOUTH LUZON VISAYAS LENDING GROUP (CEBU) NORTHERN MINDANAO LENDING SOUTHERN & WESTERN
LENDING GROUP (LUCENA) G/F, DBP Building, Osmeña Blvd., GROUP (CAGAYAN DE ORO) MINDANAO LENDING GROUP
Cebu City 600 G/F, DBP Building, Corrales Avenue (DAVAO)
SOUTH LUZON visayaslendinggroup@dbp.ph cor. Tirso Neri St., G/F, DBP Building, C.M. Recto
LENDING GROUP (LUCENA) (032) 255-6311 Cagayan de Oro City 9000 Avenue, Davao City 8000
G/F, DBP Building, nmlg@dbp.ph swmlg@dbp.ph
Merchan St., Cebu Lending Center (085) 314-5136 (082) 221-2117
Lucena City 4301 (Cebu) (085) 815-2196 (082) 221-2517
sllg@dbp.ph [Cebu, Carcar, Talisay, (via Butuan Branch) (082) 221-2117
(042) 373-4404 Toledo, Bogo, Mandaue] (082) 222-3477
G/F, DBP Building, Misamis Oriental
Quezon Lending Center (Lucena) Osmeña Blvd., Cebu City 600 Lending Center (CDO) Davao del Sur
[Lucena, Sta. Rosa, Sta. Cruz, Lipa, cebulendingcenter@dbp.ph [Cagayan de Oro, Capistrano, Lending Center (Davao)
Batangas, Romblon] (032) 255-6311 Villanueva, Valencia, Malaybalay] [Davao, Digos, Sta. Cruz,
G/F, DBP Building, Merchan St., G/F, DBP Building, Corrales Avenue Kidapawan]
Lucena City 4301 Bohol Lending Center cor. Tirso Neri St., G/F, DBP Building, C.M. Recto
quezonlendingcenter@dbp.ph (Tagbilaran) Cagayan de Oro City 9000 Avenue, Davao City 8000
(042) 373-4404 [Tagbilaran, Ubay, Tubigon] misamisorientallendingcenter@ ddslendingcenter@dbp.ph
DBP Building, dbp.ph (082) 221-2117
Cavite Lending Center 243 Carlos P. Garcia Avenue, (088) 881-6273 (082) 221-2517
(Dasmariñas) North Tagbilaran City 6300 (082) 221-2117
[Dasmariñas, Puerto Princesa, dbp-blc@dbp.ph Agusan del Norte (082) 222-3477
Bacoor, Taytay] (038) 411-2715 Lending Center (Butuan)
KM 3 E. Aguinaldo Highway, [Butuan, Surigao, Tandag, Dinagat Davao del Norte
Dasmariñas, Cavite 4114 Leyte Lending Center Island, Siargao, San Francisco, Lending Center (Tagum)
cavitelendingcenter@dbp.ph (Tacloban) Trento, Bayugan Ext. Office, [Tagum, Mati]
(046) 416-1389 [Tacloban, Catarman, Borongan, Mangagoy, Claver] DBP Building, Apokon Road,
Maasin, Ormoc, Catbalogan] J.C. Aquino Avenue cor. Tagum City 8100
Oriental Mindoro Lending Center G/F, DBP Building, cor. Zamora & J. Rosales Avenue, ddnlendingcenter@dbp.ph
(Calapan) Paterno Sts., Butuan City 8600 (084) 216-7096
[San Jose, Calapan] Tacloban City, Leyte 6500 adnlendingcenter@dbp.ph (084) 216-7097
Roxas Dr. Sto. Niño, Calapan City, leytelendingcenter@dbp.ph (085) 314-5136
Oriental Mindoro 5200 (053) 325-2959 (085) 815-2196 South Cotabato
mindorolendingcenter@dbp.ph (via Butuan Branch) Lending Center (General Santos)
(043) 288-4399 Negros Occidental [General Santos, Polomolok,
Lending Center (Bacolod) Lanao del Norte Tacurong, Marbel, Cotabato]
Camarines Sur Lending Center [Bacolod, San Carlos, Kabankalan, Lending Center (Iligan) G/F, DBP Building, Roxas Avenue
(Naga) Dumaguete, Siquijor] [Iligan, Ozamis] General Santos City 9500
[Naga, Daet, Iriga] cor. South Capitol Road Picardal Road, Mahayahay, scotabatolendingcenter@dbp.ph
Panganiban Drive, and Lacson Sts., Iligan City 9200 (083) 552-2328
Naga City 4400 Bacolood City 6100 ldnlendingcenter@dbp.ph
camsurlendingcenter@dbp.ph negrosocclendingcenter@dbp.ph (063) 223-3332 Zamboanga del
(054) 472-4728 (034) 433-4284 Sur Lending Center
(Zamboanga)
Albay Lending Center Panay Lending Center (Iloilo) [Zamboanga, Zamboanga
(Legazpi) [Iloilo, Jaro, Kalibo, Antique, Ecozone, Dipolog, Pagadian,
[Legazpi, Virac, Sorsogon, Roxas, Pototan] Ipil, Basilan, Jolo]
Masbate, Guinobatan] G/F, DBP Building, G/F, DBP Building, Don Pablo
Quezon Avenue, Legaspi City 4500 I. Dela Rama St., Lorenzo St. (Port Area),
albaylendingcenter@dbp.ph Iloilo City 5000 Zamboanga City 7000
(052) 480-7843 panaylendingcenter@dbp.ph dbpzlc@dbp.ph
(033) 337-6432 (062) 991-1316