^

Business

DBP loan portfolio hits P99.1-B as of Dec 2002

- Ted P. Torres -
The Development Bank of the Philippines (DBP) had extended a total of P99.1 billion in loans covering 6,371 projects as of end December 2002.

In 2002 alone, the government financial institution (GFI) extended P5.4 billion in loans covering 132 projects.

Roughly 73 percent of the projects that received funding were classified as small and medium enterprises (SMEs). The sector received P1.1 billion or a little over 20 percent of the total loan released last year.

On a cumulative basis, 91 percent of the 6,371 projects are classified as SMEs. They accounted for P31.8 billion or 32 percent of total releases so far.

DBP president and chief executive officer Simon R. Paterno said the bank has access to P70 billion in funding that would be allocated to various priority sectors. Among the priority areas are SMEs, and major infrastructure projects for transportation and power.

Paterno said the bank will also be indirectly involved in housing.

Meanwhile, almost 60 percent of the 2002 lending were gobbled up by programs outside Metro Manila, or roughly P2.6 billion of the total P5.4 billion last year.

Cumulatively, 68 percent of the total 6,371 projects were directed to the countryside. In terms of amount, that could be translated into P56.1 billion of the total.

vuukle comment

BANK

BILLION

CLASSIFIED

DEVELOPMENT BANK OF THE PHILIPPINES

METRO MANILA

PATERNO

PROJECTS

SIMON R

SMES

TOTAL

  • Latest
  • Trending
Latest
Latest
abtest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

Get Updated:

Signup for the News Round now

FORGOT PASSWORD?
SIGN IN
or sign in with