The net income of the Philippines Development Bank increased by 17 percent in the first quarter of P15 billion in the same period of the previous year and rose to 1.23 billion P1 in the first quarter of 2023. DBP Chairman and Executive Officer Michael de Jesus said that the larger interest income of the Filipin economy, one of the expanded credit activities as a result of increasing business activity, encouraged the increase in double -digit income of the bank. "DBP's resurrected financial performance in 2023 is a proof of its stability as a state financial institution."Said. "We will continue to build on this growth orbit, and we will continue our duty to become a growth catalyst in the limited and most needed areas of economic activities." In Jesus, DBP continued to exhibit an excellent financial position, because the gross credit portfolio exceeded the first quarter net income target by 50 percent and at the same time exceeding the P547 billion portfolio with an increase of 2.0 percent from the recorded P547 billion percent. news I accept that I have read and accepted the conditions of service and privacy policy, register with a E -Posta address, register for the daily bulletins of Manila Times. DBP is the eighth largest bank in terms of assets. It continues to be a relevant and reliable partner of the national government in meeting the financing needs of strategic and critical economic sectors such as infrastructure and logistics, micro, small and medium -sized enterprises, social services and environment. Since the end of this year, it reached 285,235 billion P2.235 billion with P107,842 billion extraordinary portfolio for infrastructure and logistics loans, social infrastructure and community development. "A large part of our sufficients or approximately 55.2 percent of the bank's credit portfolio, most of them were released to bank infrastructure development attempts to support the better program of the national government in the National Capital Region, Central Visayas, Central Visayas, Central and Central.Jesus. The Bank also provided P35.82 billion agricultural loans and P78.54 billion p74 billion p74 billion p7.54 billion, including production, wholesale and retail trade and food services. It also extended a total of P54,166 billion and micro, small and medium -sized enterprises for environmental projects. Despite the P765 million increase for loan losses, the bank generated target revenue for the first quarter of 2023. De Jesus also said that DBP was also a small capital increase of 4 percent from P76.823 billion in 2022. "DBP is on the road to maintain its position as one of the most relevant and stable government financial institutions in the country." Gotopnews.com