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DBP

Advertiser Disclosure

About bank

The Development Bank of the Philippines (DBP), which has its headquarters in Makati, is a government-owned financial institution. It was founded in 1947, following World War II, as part of the government's efforts to repair the nation's war-damaged infrastructure. With assets of more than ₱1.1 trillion as of March 2021, it is the sixth-largest bank in the Philippines. DBP is the second-largest and one of the state-owned and controlled banks. As of June 2022, it had 12 lite-branch units and 131 branches across the country.

The DBP carries out all additional tasks associated with a thrift bank by using its new charter, which classifies it as a development bank. Its main goal is to provide financial services, focusing on small and medium-sized businesses, to meet the medium- and long-term demands of such companies.

An executive board composed of nine members chosen by the president of the Philippines is in charge of the bank's activities and businesses. The same body manages the preservation of its properties and the exercise of its corporate powers. The President of the Bank is selected by the board of directors who also serves as the CEO and the board's vice chairman.

Features

The DBP is a development bank, and its primary responsibility is to offer banking services that meet the demands of commercial and industrial organizations. Examples are its investment banking and capital markets, trade products and services, the DBP digital banking portal, and electronic banking.

It also carries out all other chores related to a thrift institution, like its deposit products, ATM services, fund transfer, and remittance services. It focuses on four main financial areas: social services, small and medium-sized businesses, infrastructure and logistics, and environmental services. Along with these, it provides trade, treasury, and products and services for investments.

Pros and cons

DBP has has the experience and reputation to be one of the country's most dependable financial institutions. Before using the bank's products and services, consider these advantages and disadvantages.

Pros

  • The bank has been in operation for some time, which means they have the experience to produce first-class services.
  • They have a good range of products and services.
  • DBP provides online banking.

Cons

  • Since it is a state-owned bank, there may be some political interference.
  • The bank's website may be confusing, so getting specific information on the service you want may be challenging.
  • Most of the bank's services are offline; customers must visit the branches before making banking transactions.

Products

The DBP provides a comprehensive range of products to meet its clients' financial and banking needs. They include:

  • Deposit products. This includes the current account, peso accounts, the US dollar account, pensioner's account, the young earners savings, the wisdom account, the regular time deposit, and the high earner time deposits, amongst others.

  • The EC remit. This gives Filipinos living abroad (OFs/OFWs) a SAFER (Secure, Affordable, Fast, Efficient & Reliable) method of sending money to loved ones and beneficiaries in the Philippines. It is a combination of traditional and electronic remittance services, such as fund transfers and payments through ATMs and banks, non-bank service providers (including pawnshops and rural banks), electronic payments, and online banking services.

  • The DBP EC card. This savings account is created for the convenience of OFWs and OFW Beneficiaries. Send money internationally from any DBP remittance office or partner, and immediately obtain cash from any DBP ATM or any BancNet ATM.
  • Cash pick-up. With this product, remittances can be claimed at any DBP bank or any of the country's more than 4,000 recognized or authorized pay outlets. Partners in payouts include M. Lhuillier and Cebuana Lhuillier.
  • Payment to institutions. This product is used to update the Social Security System (SSS), Philhealth, Pag-ibig, and other public and private institutions with your monthly contributions or loan repayments.

Other products include payroll servicing, electronic tax filing, demand draft, foreign currency denominated bank draft, and manager's check.

Development Bank of the Philippines

FAQ

What is the Development Bank of the Philippines?

The Development Bank of the Philippines is a government-owned development bank with its main office in Makati, Philippines. It was created in 1947 as part of the government's endeavor to reconstruct the nation's war-damaged infrastructure.

Who owns the DBP?

The Development Bank of the Philippines is owned and run by the Filipino government.

Is the DBP a legitimate bank?

Yes, the Development Bank of the Philippines is a legitimate financial institution that is Bangko Sentral ng Pilipinas regulated.

Company documents

Privacy Statement

In the Philippines, development financing institutions play a pivotal role in the quest for sustainable growth and development. And at the helm of the country’s march toward progress is the Development Bank of the Philippines.

© Development Bank of the Philippines

Financial products

DBP
EC Credit Salary Loan
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
₱10,000 - ₱1,000,000
Term
i

Loan term for the financial product

up to 48 months
DBP
CRUISE
Rating by Finanso®
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Recommended FinScore™
0
300
650
1000
up to 90% of total project cost
Term
i

Loan term for the financial product

up to 15 years
DBP
BAHAY
Rating by Finanso®
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Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

based on DBP’s applicable benchmark rates and credit spread
Term
i

Loan term for the financial product

based on borrower’s/project cash flow
DBP
Agroforestry Plantation Program (APP)
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
up to 90% of total project cost
Rate
i

Effective interest rate on the product

prevailing market rate
Term
i

Loan term for the financial product

up to 15 years
DBP
Swine R3 Credit Program
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
up to 100% of total project cost
Rate
i

Effective interest rate on the product

5% per year
Term
i

Loan term for the financial product

up to 10 years
DBP
RAPID Growth Credit Facility
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
up to 90% of the total project cost
Rate
i

Effective interest rate on the product

prevailing market rate
Term
i

Loan term for the financial product

up to 10 years
DBP
SAFP-DAIRY
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
up to 80% of the Total Project cost
Term
i

Loan term for the financial product

up to 10 years
DBP
ERCA-RCEF
Rating by Finanso®
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Recommended FinScore™
0
300
650
1000
up to 90% of the Total Project Cost
Rate
i

Effective interest rate on the product

0% - 2% per year
DBP
Rediscounting Line Facility
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
up to 85% of the current balance
Term
i

Loan term for the financial product

up to 3 years
DBP
Interest-earning business account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

₱25,000 minimum initial deposit
Rate
i

Effective interest rate on the product

based on a balance
DBP
Non-interest earning business account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

₱10,000 minimum initial deposit
Rate
i

Effective interest rate on the product

0% per year
DBP
Deposit Account for Financial Inclusion
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

₱100 minimum initial deposit
DBP
EC Card Account
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

no initial deposit required
DBP
Premier Payroll Account with Payroll Savings Plan
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

₱500 minimum initial deposit
DBP
Wisdom Account
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

₱5,000 or $100 minimum initial deposit
DBP
Pensioner’s Account
Rating by Finanso®
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₱100 minimum initial deposit
DBP
Young Earner’s Savings Account
Rating by Finanso®
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₱1,000 or $50 minimum initial deposit
DBP
US Dollar Account
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$100 minimum initial deposit
DBP
Peso Account
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

₱500 minimum initial deposit
DBP
DBP ATM Visa Card®
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

DBP
DBP Prepaid Card®
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

DBP
DBP ATM ID Card®
Rating by Finanso®
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All products

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