State-owned Development Bank of the Philippines (DBP) has expanded its branch network with the opening of a new branch lite unit (BLU) in the municipality of Talakag in Bukidnon even as it eyes ramping up its financing activities in Northern Mindanao, a top official said.
DBP President and Chief Executive Officer Michael O. de Jesus said the opening of DBP Talakag BLU is in line with the goal of President Ferdinand R. Marcos, Jr. of providing accessible financial services to more Filipinos, especially those in far-flung communities.
“DBP is eager to serve the banking needs of the people of Talakag and nearby areas, and we are hopeful that our presence here will help unlock the potential of the town as the next eco-tourism destination in Mindanao,” de Jesus said.
DBP is the 10th largest bank in the country in terms of assets and provides credit support to four priority sectors of the economy – infrastructure and logistics; micro, small and medium enterprises; the environment; and social services and community development.
DBP Talakag is the Bank’s 16th branch lite unit and the Bank’s 150th overall. Talakag is a first-class municipality with an estimated population of 77,000 and Bukidnon’s third highest-earning municipality with a total revenue of around P423 million as of end-2024.
De Jesus said that with the establishment of DBP Talakag BLU, the Bank is now in a prime position to reinforce the municipality’s socio-economic growth by providing strategic lending support to key development projects of the local government, businesses, and neighboring towns.
“DBP Talakag would work closely with key stakeholders in the area to facilitate the provision of critical developmental financing for projects geared towards public infrastructure, food security, tourism, including meaningful livelihood programs to assist the municipality in unleashing its full economic potential,” de Jesus said.