CALOOCAN CITY, Feb. 27 (PIA) State-owned Development Bank of the Philippines (DBP) is working with the Department of Finance, state regulators and legislators to introduce amendments to its charter as the bank prepares for an expanded role in the economic recovery efforts of the National Government, a top official said.
DBP President and Chief Executive Officer Emmanuel G. Herbosa said the bank hopes to hike its authorized capital from the current P35 billion to P100 billion to enable DBP to broaden its credit assistance to priority sectors, which were adversely affected by the current economic downturn.
“The proposed amendments to the DBP Charter would be a boon to our efforts to undertake more developmental projects especially in the countryside, where these types of economic interventions are most sorely needed,” Herbosa said.
DBP bats for changes to its charter amidst expanded role in economic recovery
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DBP bats for charter change, capital hike to P100 billion – Manila Bulletin
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