DBP bags award for best workforce

State-run Development Bank of the Philippines (DBP) recently received another award in recognition of its sustainable approach on employee management.

In a statement, DBP president and chief executive officer Emmanuel Herbosa said the bank was hailed with the “Best Workforce” award during the recently concluded Sustainability Business Awards (SBA) Philippines 2019, which was organized by Singapore-based Global Initiatives in partnership with PricewaterhouseCoopers Philippines and Philippine Business for the Environment.

“We are greatly honored by this latest accolade. This award validates our sustained efforts in creating a truly rewarding workplace culture for our most valuable asset – human resource,” Herbosa said.

He said the DBP was also cited for promoting diversity in the workplace by implementing a non-discrimination and equal opportunity policy in the recruitment and selection process of potential employees.

The SBA is an award conferred to companies for their performance on environmental and social sustainability. It is dubbed as the region’s leading sustainable award platform since 2012, and is designed to encourage companies to strive for continuing development through the introduction of new sustainability benchmarks and standards.

DBP, along with 15 other companies, emerged as winners in the 2019 SBA awarding ceremony.

In 2014, the DBP was also adjudged by SBA under the category of energy management, and land use, biodiversity and environment.

DBP is the eighth largest bank in the country, with total assets amounting to P700.9 billion as of the end of September 2019. It has a network of 137 offices nationwide.

In the first nine months, the bank’s net income dipped by 1.56 percent to P4.42 billion.

Herbosa attributed the slight decline to higher provisions for impairment losses, as well as taxes and operating expenses.

Nevertheless, Herbosa expressed confidence that the bank would be able to meet its P5.9 billion net profit target for the year.

The DBP also broadened its support to priority sectors, disbursing P329.1 billion in loans or 33.8 percent more than the P246 billion spent last year.