DBP - updates

Rappler's latest stories on DBP


SC affirms junking of graft case vs DBP, textile firm over Marcos-era behest loans

Aug 25, 2019 - 5:16 PM

The Supreme Court Third Division backs the Ombudsman's 2006 decision to dismiss the complaint filed by the Presidential Commission on Good Government

File photo by LeAnne Jazul/Rappler

SC: Release P747-M retirement perks of ex-DBP employees

May 05, 2019 - 1:59 PM

The Supreme Court grants a petition questioning the Commission on Audit's notice of disallowance on the Development Bank of the Philippines' retirement program

Image from Wikicommons

DBP open to unload MRT3 interests

Sep 12, 2017 - 3:15 PM

A new owner and operator for Metro Rail Transit Line 3 MRT3 is in the books of the Philippine government This is to give the railway proper upgrade and maintenance

COMMUTERS' ORDEAL. During rush hour, MRT3 passengers endure long lines and jampacked trains. Rappler file photo

Filipino groups present automated poll systems, ideas in tech fair

Jul 29, 2017 - 8:55 AM

It s high time that we have a Filipino system in place for a Filipino election says the alternate chairman of the Comelec Advisory Council

PROUDLY PINOY. These are some of the homegrown technologies and ideas presented at the AES Tech Fair at Novotel Manila, Quezon City, on Wednesday, July 26. Photos by Michael Bueza/Rappler

Court excludes Enrile from 1987 Marcos-Cojuangco loot case

Apr 20, 2017 - 6:15 PM

This resolution comes 12 years after the appeal by the PCGG

Former DBP chairman Nañagas acquitted of graft, estafa

Feb 15, 2017 - 8:43 PM

The anti graft court upon re examination of the evidence cites a weakness in the graft case and some reasonable doubt in the two estafa cases

WEAK CASE. The Sandiganbayan acquits the former DBP chair of graft and estafa charges. File photo by Darren Langit

Veteran banker Cecilia Borromeo is new DBP chief

Jan 09, 2017 - 7:45 AM

Borromeo replaces Gil Buenaventura who has been serving as president and CEO of Rizal Commercial Banking Corporation since July 1 2016

NEW DBP CHIEF. (L-R) Oath taking of Development Bank Members, Board of Directors Ma. Lourdes Z. Arcenas and newly-elected President/CEO Cecilia C. Borromeo. Photo from DOF

Landbank-DBP merger stopped

Sep 07, 2016 - 12:55 PM

Finance Secretary Carlos Dominguez III says the main rationale behind the decision is that the two institutions serve different functions

Ongpin vows to appeal SEC ruling, slams 'cruel' penalties

Jul 24, 2016 - 11:55 PM

I thought that the persecution under the Aquino administration had ended but apparently the remaining minions of the past administration are still determined to get me says Roberto Ongpin

CONTROVERSIAL. Businessman Roberto "Bobby" Ongpin is being accused of insider trading of Philex Mining shares in 2009. Photo by Agence France-Presse

Gil Buenaventura is new RCBC president and CEO

May 16, 2016 - 5:56 PM

The 63 year old Development Bank of the Philippines chief will replace Lorenzo Tan as RCBC president and CEO starting July 1

NEW HEAD. Buenaventura, a seasoned banker, would become president and chief executive officer of RCBC starting July 1. Photo from DBP website

Ex-DBP chairman Nañagas convicted of graft, estafa

Apr 25, 2016 - 1:20 PM

Th Sandiganbayan says Vitaliano Nañagas II employed deceit when he asked the government to reimburse money he spent on items such as lingerie

Fascade of Sandiganbayan at Quezon City. Photo by Jansen Romero/Rappler

DBP employees file plunder complaint vs top execs

Mar 04, 2016 - 4:54 PM

UPDATED The senior vice president of DBP calls the plunder complaint filed by some bank employees as full of inaccuracies and a nuisance case

EMPLOYEES VS EXECS. DBP employees believe that their top executives should be  held criminally and administratively liable over a 'highly questionable' transaction that led to hundreds of millions in losses for the government.  Image from Wikicommons

Aquino OKs Landbank-DBP merger

Feb 09, 2016 - 4:15 PM

With Landbank as the surviving entity President Benigno Aquino III approves the increase in its capital stock to P200 billion 4 19 billion

FUSION. Landbank is the surviving entity given its bigger assets and wider branch network. Image from Wikipedia

Sale of Meralco shares didn't happen – Landbank

Sep 28, 2015 - 3:20 PM

There is no violation of the Anti Graft Law since the block sale of the bank s Meralco shares did not materialize Landbank says

NO BASIS. "There is no basis for a criminal indictment or administrative sanction against former members of the LBP board of directors, including some incumbent bank officers," the Landbank of the Philippines statement reads.

Ex-Landbank, SSS execs face graft charges over Meralco deal

Sep 24, 2015 - 6:49 PM

The deal involved the block sale of SSS Meralco shares for P5 669 billion to Global 5000 a company identified with businessman Roberto V Ongpin

Marina mulls fiscal perks for domestic shipbuilders

Sep 02, 2015 - 7:35 AM

With the incentives program the government hopes that the Philippines will soon be the largest shipbuilding nation in the world

MORE PERKS. The Philippines' Maritime Industry Authority (MARINA) mulls fiscal incentives for companies catering to domestic shipbuilding. Background photo from Hanjin website

'Fake rice' just stale, contaminated rice – NFA

Aug 06, 2015 - 3:51 PM

Suspected fake rice turns out to be retrograded rice while the contaminated rice from Davao City is an isolated case according to tests by government agencies

REAL RICE AFTER ALL. NFA Food Development Center Director Jocelyn Sales explains tests done on suspected 'fake rice' samples. Photo by Pia Ranada/Rappler

Davao Sasa project attracts 5 investors

Jul 29, 2015 - 5:34 PM

San Miguel ICTSI and Singapore s Portek are among the 5 groups that want to bid for the Davao Sasa modernization project

NEEDED IMPROVEMENTS. A study shows that container traffic in Davao is seen to increase by at least 6% annually over the next 25 years. Photo from Wikipedia

Ifugao residents protest multi-level parking in Banaue

Jul 29, 2015 - 10:43 AM

Local officials say the facility is meant to solve the traffic problem in the tourist area where vehicles usually park on the main road Critics claim there was no prior public consultation on the project

Banaue jeepney and tricycle terminal Photo by CEphoto, Uwe Aranas / CC-BY-SA-3.0

'Contaminant' found in alleged fake rice in Davao

Jul 03, 2015 - 3:18 PM

UPDATED The initial findings however are not conclusive yet to determine if the sample is indeed fake rice

INSPECTION. NFA Administrator Renan Dalisay checks a rice store in Metro Manila on June 30, 2015. Photo by NFA

DBP employees file admin, criminal complaint vs top execs

May 29, 2015 - 6:52 PM

The complaint is based on the ‘highly questionable sale’ of the bank’s P14 3 billion worth of government securities resulting in actual government losses of P717 07 million

ADB, DBP to advise gov't on PPP deal

May 15, 2015 - 7:30 PM

The Philippine government gets help from Asian Development Bank for the biggest public private partnership deal thus far: the 3 8 billion South Line of North South Railway Project

Links between the southern provinces and the Capital will mean more people can reap the rewards of the country’s strong economic growth, Ryuichi Kaga, head of ADB’s PPP Office, says. File photo by PPP Center

Abad: GOCC dividends, Treasury gains to fund MRT3 buyout

May 12, 2015 - 1:03 PM

The government can also borrow money but with the the approval of the Office of the President if GOCC dividends and Treasury gains are not realized Budget Secretary Florencio Abad says

Can Carcar in Cebu pay a P600-M loan for new city center?

Apr 21, 2015 - 7:56 PM

Provincial board members point out that the estimated yearly payments for the loan is higher than the debt servicing cap of the city

GSIS Family Bank up for sale

Mar 02, 2015 - 7:32 PM

The sale is expected to be completed by the first half of 2015

JICA, Cebu City unveil P15-M wastewater treatment facility

Aug 27, 2014 - 4:39 PM

The Japan International Cooperation Agency shares a patented technology with Cebu City to help effectively manage its sewerage and septic systems

Anti-graft court's Top 10 cases involve billions of pesos

Jul 06, 2014 - 6:00 PM

The P4 098 billion plunder case vs former president Joseph Estrada tops the list of Sandiganbayan cases with the highest sums involved

Peeling off the legalese rind

Jun 13, 2014 - 11:03 AM

How are prayer and quash used in legal terms? Understand legal jargon in the context of the dismissed graft charges vs businessman Bobby Ongpin

Gerry Geronimo

2 Sandigan justices question dismissal of charges vs Ongpin

May 30, 2014 - 10:21 AM

Anti graft court Associate Justice Herrera argues that the dismissal of the cases constitutes an unwarranted turnaround and a premature appreciation of evidence

Sandiganbayan junks graft raps vs Ongpin, ex-DBP officers

May 28, 2014 - 4:06 PM

Ongpin was accused of forging behest loan deals with former DBP officials and executives in 2009

COA to agencies: Return P2.3-B bonuses

Jan 15, 2014 - 7:50 AM

UPDATED The Governance Commission for GOCCs responds to the COA order

GRACEFUL EXIT. COA Chairperson Grace Pulido-Tan leaves the Senate after enduring a one-hour grilling from Sen Jinggoy Estrada. The feisty Tan holds her ground and at times answers back. Photo by Ayee Macaraig/Rappler

Ongpin case no impact on Alphaland - exec

Apr 03, 2013 - 11:10 AM

Roberto Ongpin s court case has not affect Alphaland s financials

FROZEN ASSETS. Alphaland boss Mario Oreta (right) says the frozen assets of the country's 11th richest, Roberto V. Ongpin (left) have no impact on the property firm. Photo by Aya Lowe/Rappler

Ongpin to file case vs another AMLC exec

Jan 13, 2013 - 7:48 PM

This is the second case Ongpin lodged against a member of the AMLC

UNDER SUSPICION. Roberto "Bobby" Ongpin faces the Senate Blue Ribbon Committee in November 2011. Photo from Senate website

Ombudsman affirms order on raps vs Ongpin, DBP officials

Jan 09, 2013 - 8:35 PM

The order came out amid a word war between Ongpin and the Bangko Sentral ng Pilipinas which deferred the businessman s election to the board of a local bank due to allegations against him

Ongpin to sue BSP deputy gov Espenilla

Jan 04, 2013 - 3:14 PM

Ongpin accuses Espenilla of violating the anti graft law after the latter asked the appellate court to freeze his bank accounts

Court freezes Ongpin's bank accounts

Dec 08, 2012 - 2:32 PM

The freeze order was made upon the request of the Anti Money Laundering Council

UNDER SUSPICION. Roberto "Bobby" Ongpin faces the Senate Blue Ribbon Committee in November 2011. Photo from Senate website

Rappler Newscast | December 6, 2012

Dec 06, 2012 - 8:51 PM

Typhoon Pablo international name Bopha wipes out entire town leaving more than 400 people dead hundreds missing and a quarter of a million homeless Lawmakers supporting the Reproductive Health Bill predict it will pass Congress next week 13 officials of the Development Bank of the Philippines are fired over 660 million peso behest loans to a company of Roberto Ongpin

13 DBP officials sacked over P660-M loans to Ongpin grp

Dec 06, 2012 - 11:15 AM

Ombudsman Conchita Carpio Morales orders the dismissal from service of 13 officials of state run Development Bank of the Philippines DBP for granting P660 M loans in 2009 that she considered behest or illegal

Former DBP vice chair and president Reynaldo David

Ombudsman: File criminal cases vs. Ongpin, ex-DBP officials

Sep 27, 2012 - 7:17 PM

Ombudsman Morales says criminal cases must be filed against 28 individuals including one of the country s richest Roberto V Ongpin for loans from state owned bank DBP used to purchase shares of Philex Mining in 2009

Former DBP vice chair and president Reynaldo David

DBP chief resigns, cites health issues

Jul 10, 2012 - 2:46 PM

Does the resignation of Development Bank of the Philippines president and CEO Francisco Popoy F del Rosario have anything to do with his alleged tiff with DBP chairman Jose Nuñez?

Osmeña to resign if can't prove Mike Arroyo behind DBP-Ongpin loan

Jun 13, 2012 - 6:25 PM

Sen Sergio Osmeña is 110 confident that former First Gentleman Jose Miguel Arroyo had a hand in the over P660 million loans reportedly granted illegally by state run bank to businessman Roberto V Ongpin

No hot seat for Ongpin at Senate

Dec 07, 2011 - 8:00 AM

MANILA Philippines Former trade secretary Roberto V Ongpin appears at the Nov 14 2011 Senate hearing on deals he was involved in

Ongpin skips Senate hearing on 'behest' DBP loan

Dec 07, 2011 - 8:00 AM

MANILA Philippines Businessman Roberto Ongpin did not attend the Senate hearing on the alleged behest loans extended in 2009 by state owned Development Bank of the Philippines to companies he controls

Balay, Samar factions have role in Ongpin deals probe, says Osmena

Dec 07, 2011 - 8:00 AM

MANILA Philippines Sen Serge Osmena explains who are playing what role in the Senate hearing on the questionable loans of state owned Development Bank of the Philippines DBP to businessman Roberto Ongpin

Ongpin appears at Senate hearing to 'defend' self on behest loan issue

Dec 07, 2011 - 8:00 AM

MANILA Philippines Businessman Roberto V Ongpin is present at an ongoing Senate probe on alleged behest loans from state owned bank Development Bank of the Philippines

Anatomy of a 'behest' loan

Dec 07, 2011 - 8:00 AM

MANILA Philippines When a controversial loan between a state owned bank and an equally controversial multi billionaire triggered a Senate investigation a fundamental question was raised: What makes a loan behest ?

[Exclusive] No coercion in suicide of DBP lawyer, family tells Senate

Dec 06, 2011 - 2:41 PM

The family of lawyer Benjamin Pinpin refuted claims that coercion led to the his August suicide during an executive session of a Senate inquiry