Congress expected to pass DBC charter this year 

The state-owned Development Bank of the Philippines (DBP) is hopeful that the amendments to its charter will be passed within the year, according to a report by Philippine News Agency.

DBP president and chief executive officer Michael de Jesus said while the bank is expected to meet all minimum capital ratios this year, there is a need to further increase capital.

"We need to increase our capital. There's no question. That's why we're working with the Congress now on the amendment to the DBP Charter," De Jesus told the media on the sidelines of the 2025 Annual Reception for the Banking Community at the Bangko Sentral ng Pilipinas office in Manila late Friday.

"We're requesting that our authorized capital be increased from PHP35 billion to PHP300 billion. So, we will meet the minimum, but of course, we don't just want to meet the minimum, we want to exceed it. So, we need to increase our capital. I'm not saying it has to be done this year, but over time," he added.

In September last year, the Senate approved Senate Bill 2804, also known as the New DBP Act.

Aside from the increase in capital, de Jesus said also included in the proposed new charter is the option to raise funds from the outside market.

“The ability to tap the capital markets. So, I'm not saying we're going to do it now, but at least that option is there. So, the government will always own at least 70 percent. There'll be an option for either the private sector or even other government agencies to come in,” he said.

De Jesus said the Department of Finance (DOF) will ask for presidential certification to speed up the passage of the amendments to the bank's charter.

"I think the DOF is working. It's a priority bill of the DOF so they're pushing this with the Congress and iit's already been finished with the third reading at the Senate. Now it's with the Congress so we're looking forward. The Congress has been very helpful also. The plenary is on Monday, so we will see when this will be taken up," he said.

He said the DOF wants the amendments to be passed within the year.

"That's what the DOF would want. It's good for the bank. Increasing the authorized capital is good. The charter hasn't been amended in more than 30 years. This would be very good for the institution. So, we can fulfill our mandate of developmental banking," he said.