Development Bank of the Philippines - updates

Rappler's latest stories on Development Bank of the Philippines


'Largest budget support ever': ADB lends PH $1.5 billion vs coronavirus

Apr 24, 2020 - 11:35 AM

Finance Secretary Carlos Dominguez III says the loan will help fund programs to defeat COVID-19 and bridge the higher deficit requirement estimated at P990 billion

Duterte slams Lopez group anew for past DBP loans

Sep 17, 2019 - 9:08 PM

President Rodrigo Duterte launches a fresh tirade against the Lopez family, warning he might 'start to dig' up information about how DBP loans obtained by their companies were written off

President Rodrigo Roa Duterte delivers his speech during the oath-taking ceremony of the officers of the Malacañang Press Corps, Presidential Photojournalists Association, and Malacañang Cameramen Association at the Malacañan Palace on September 10, 2019. KING RODRIGUEZ/PRESIDENTIAL PHOTO

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

Sandiganbayan junks case vs ex-DBP officials over Marcos-era loan

Jun 03, 2018 - 7:55 PM

The anti-graft court says the Office of the Solicitor General failed to prove that a P57.39-million loan given to a textile company by the Development Bank of the Philippines was a behest loan

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

DBP willing to help rebuild Marawi City, says CEO

Jul 02, 2017 - 4:07 PM

The state owned financial banking institution continues to grow the financial muscle it needs to achieve its development mandate CEO Cecilia Borromeo says

TOP EXEC. DBP chief executive officer Cecilia Borromeo talks to stakeholders during the bank's Business Roadshow in Legazpi City. Photo by Rhaydz Barcia/Rappler

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

China Bank to open 11 branches in December

Nov 28, 2015 - 9:51 AM

Retail and banking magnate Henry Sy’s China Bank expects to close 2015 with 508 branches including those of China Bank Savings and Planters Development Bank

BEEFING UP. China Bank will open branches in Makati, Quezon City, and San Juan in December

Groups launch signature drive vs P800M Samar gov't loan

Nov 26, 2015 - 11:20 AM

The No to P800 Million Loan Coalition seeks to gather 600 000 signatures in Samar to support its protest against the loan

NO TO LOAN. Catbalogan residents attend the launch of the `No to P800 Million Loan' signature campaign against in Catbalogan City on November 17, 2015. Photo by Jazmin Bonifacio/Rappler

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

Prioritize public needs over credit ratings, Angara tells gov't

Sep 22, 2015 - 11:20 AM

The senator questions the government s priorities in the face of its refusal to lower taxes

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

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

'Invest in PH now' - Gov't, business make pitch to US investors

Jun 29, 2015 - 12:27 AM

The conference is part of a high level 3 city trade mission aimed at encouraging US investment in the country

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

APEC pushes microinsurance for disaster mitigation

Apr 29, 2015 - 7:23 PM

With global damage due to calamities reaching 300 billion leaders are now encouraged to invest in microinsurance to strengthen disaster resilience in communities an ADB specialist 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

Firms urge gov’t to maintain PPP momentum as 2016 looms

Mar 25, 2015 - 1:24 PM

The private sector is gaining confidence in public private partnership projects as the government mulls joining a China led development bank to help narrow the infrastructure gap

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

Abaya: Gov't to proceed with MRT3 buyout

Nov 21, 2014 - 3:21 PM

The journey to the government s takeover of the MRT3 is being opposed but DOTC Secretary Joseph Emilio Abaya says the government has Executive Order 126

The government wants to nationalize the entire assets of the MRT3 to do away with having to pay its concessionaire hefty charges every year, as well as to cut costs in acquiring service contracts. Photo by Mick Basa / Rappler

SC stops COA order vs DBP productivity perks

Sep 16, 2014 - 9:37 PM

The High Court issues a TRO on the enforcement of a COA order disallowing the grant of the DBP Governance Forum Productivity Award

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

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

ADB: PH to grow below 2014, 2015 targets

Apr 01, 2014 - 1:56 PM

The lender says growth will be tempered by rising inflation and interest rates

COA: DBP perks in 2005-06 had no legal basis

Jan 19, 2014 - 3:44 PM

The COA ruling covers P151 7 million worth of bonuses and perks given to officials and staff of the government owned corporation between 2005 and 2006

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

Court orders arrest of 13 ex-DBP officials

Aug 01, 2013 - 5:44 PM

At least 8 of those issued warrants have already posted bail

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

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

From word war, Ongpin-BSP drama shifts to legal battle

Jan 10, 2013 - 10:24 AM

Ongpin files graft charges against BSP Deputy Governor Nestor Espenilla before the Office of the Ombudsman

IN A BATTLE. Businessman Roberto V. Ongpin (right) finally files a complaint against central bank Deputy Governor Nestor Espenilla Jr. (left) before the Ombudsman

Ongpin exits PBCom, sells stake to nephew

Jan 06, 2013 - 5:51 PM

Ongpin says the move is meant to protect PBCom from any untoward action by monetary officials whom he slammed publicly over their alleged bias toward 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

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