SB Corp. targets P500 million profit this year

MANILA, Philippines — The financing arm of the Department of Trade and Industry (DTI) is looking to achieve P500 million in net operating income in 2025 after surpassing the target for 2024.

Small Business (SB) Corp. president and CEO Robert Bastillo told reporters that they are hoping for this year’s net operating income to exceed last year’s P431.1 million and to reach up to P500 million.

“We will keep our achievement in 2024 and hope to exceed it, (reaching) up to P500 million,” he said.

Last year’s net operating income surpassed SB Corp.’s P230 million target.

It was also almost double SB Corp.’s pre-pandemic or 2019 net operating income amounting to P228.6 million.

Bastillo said the SB Corp. is also aiming to achieve P1.2 billion worth of revenues this year after breaching the P1 billion mark for the first time last year.

SB Corp. attributed last year’s performance to the streamlined and faster loan application and approval processes, as well as adherence to governance standards that promote transparency and accountability.

“We have weathered the storm of the pandemic, much like the MSMEs (micro, small and medium enterprises) we have assisted,” Bastillo said.

He said the corporate losses in the past years were largely due to SB Corp.’s countercyclical role in the Philippine financial system and prudent provisioning for the mandated COVID-19-related accounts.

“We believe that corporation’s performance in 2024 signals a new chapter of growth and financial sustainability,” he said.

Beyond growing SB Corp.’s revenues, Trade Secretary Cristina Roque said the goal is to make meaningful impact.

“By empowering MSMEs, we create jobs, and we empower the communities and industries that drive our nation’s progress,” she said.