DBP Q1 income up 26%

DEVELOPMENT BANK of the Philippines (DBP) posted a 26.09% increase in its net income in the first quarter on lower provisioning and as it booked higher foreign exchange gains.

The state-run lender’s net profit climbed to P2.03 billion in the first three months of 2026 from P1.61 billion in the same period last year, its financial statements showed.

Net interest income inched up by 0.98% year on year to P7.21 billion from P7.14 billion.

This came as its interest income edged up by 0.7% to P12.84 billion from P12.83 billion, while interest expense slipped by 1.09% to P5.63 billion from P5.69 billion.

Meanwhile, other income surged by 66.67% to P1.29 billion in the first quarter from P771.67 million in the same period last year

This was driven mainly by foreign exchange gains amounting to P594.193 million, a turnaround from the P25.29-million loss booked a year ago.

It also booked a higher gain from investment and securities trading at P153.53 million from P136.34 million, and miscellaneous income increased to P146.21 million from P79.48 million.

These offset the decline in service charges, fees and commissions to P373.99 million in the period from P578.76 million last year.

On the other hand, other expenses rose by 10.03% year on year to P4.48 billion in the first quarter from P4.07 billion.

DBP set aside impairment provisions amounting to P1.59 billion in the first three months, down by 30.48% from P2.28 billion a year ago.

Meanwhile, its net loans stood at P519.95 billion as of end-March, growing by 7.46% from P483.43 billion in the same period last year.

On the funding side, total deposits went down by 2.6% to P799.53 billion from P820.84 billion.

DBP’s total assets were at P1.037 trillion at end-March, inching down from P1.04 trillion a year ago.

Total capital was at P100.76 billion, rising by 3.7% year on year from P97.17 billion. — Aaron Michael C. Sy