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April 6, 2004 |
DBP cited its top participating financial institutions (PFIs) under the Bank’s wholesale lending operations during an appreciation program held last March 17, 2004 at the DBP head office.
The annual affair aims to give recognition to outstanding banks and financial institutions that have significantly contributed towards the successful mobilization of long-term funds to industrial enterprises.
For the fourth straight year, the Bank of the Philippine Islands was named the most outstanding PFI for its all-around performance award as it turned in the most balanced and substantial participation in all DBP wholesale lending facilities. BPI was also cited for its outstanding performance under the Industrial Guarantee and Loan Fund (IGLF)-commercial bank category and JBIC facilities. This is the fourth time that BPI is being recognized for being a top performer under the IGLF program and the second time under the JBIC facilities.
DBP also honored First Macro Bank as the most outstanding performing PFI under the IGLF-Rural Bank category. First Macro Bank was cited for its active participation in extending micro-finance loans through its SIKAP and UNLAD programs. The bank’s beneficiaries covered over 10,000 households in Rizal, Cavite, Batangas, and other areas in Metro Manila.
Planters Development Bank was cited as most outstanding PFI for the JBIC facilities for small and medium scale industries. This marks the bank’s third citation, having been previously awarded in 2000 and 2002.
Metropolitan Bank & Trust Company (Metrobank) was given a special citation for consistently topping the wholesale lending operations since the program’s inception in 1990. Despite being elevated to the Hall of Fame in 1997, Metrobank continues to be the top mobilizer of the fund.
Equitable PCI Bank was honored as the most outstanding PFI under the Environmental Infrastructure Support Credit Program (EISCP) funded by the JBIC. The Bank has financed projects that improved productivity thus resulting in reduced energy consumption and waste minimization or clean technology.
Citibank N.A., Philippine Branches received the award for loan syndication for the fourth straight year. Ranking first in loan originations, Citibank delivered financial services to the transportation, food manufacturing and telecommunications sectors, thus contributing significantly in the mobilization of JBIC 5, EISCP and Domestic Shipping Modernization Program (DSMP) facilities.
Banner Year for Wholesale Lending
“2003 was a banner year for our wholesale lending operations. Our total wholesale loan approvals last year reached a high of P10.53 billion. This figure is a significant 70% higher than what we have achieved in 2002,” President and CEO Simon Paterno reported during the affair.
President Paterno added that loan releases amounted to P10.24 billion in 2003, or 89% higher than the previous year, for over 200 projects.
“If we translate this in terms of job opportunities and livelihood generated, we helped create over 11,000 jobs for our people last year, and generated P1.9 billion in taxes. Taken cumulatively over the past 14 years, this totals 112, 931 jobs and generated P24.3 billion in taxes for the government,” he noted.
He also said the countryside continues to receive the bulk of the wholesale funds as 180 out of 263, or 68 per cent of finished projects last year were financed outside Metro Manila. Over the past 14 years of the wholesale lending program, a total of P63 billion has been channeled to rural areas.
President Paterno also announced that the reinstated gross tax receipts or GRT of one per cent or five per cent depending on the term of the loan would now be absorbed solely by DBP. “We view this move as highly developmental as it will benefit the end users in terms of reduced cost of borrowing,” he said.
In addition, he revealed that the Bank is exploring ways to generate additional business from sub-borrowers through the PFIs, such as the discounting and factoring of receivables and underwriting of bonds and commercial papers.
The appreciation program was graced by Bangko Sentral ng Pilipinas Governor Rafael Buenaventura, and representatives from international funding agencies which include the Japan Bank for International Cooperation (JBIC), the World Bank (WB), Asian Development Bank (ADB), and Kreditanstalt fur Wiederaufbau (KfW) of Germany.
 Bangko Sentral ng Pilipinas Governor Rafael Buenaventura congratulates Bank of the Philippine Islands EVP Gil Buenaventura and SVP Eduardo Jose, Jr, who received the Bank’s citations for most outstanding PFI, outstanding performance under the Industrial Guarantee and Loan Fund (IGLF)-commercial bank category and JBIC facilities. Looking on are Chairman Vitaliano Nañagas II, President Simon Paterno, SEVP Panser Tumangan, & JBIC Chief Representative Osamu Murata.
Most outstanding PFI for the JBIC facilities for small and medium scale industries. SEVP Tumangan, Chairman Nañagas, Governor Buenaventura; President Paterno congratulate Planters Development Bank Chairman Jesus Tambunting and President Flordelis Aguenza.
Most outstanding PFI under the Environmental Infrastructure Support Credit Program (EISCP) funded by the JBIC for Equitable PCI Bank. SEVP Tumangan, Equitable PCI Bank Vice Chairman Johnny Go; Chairman Nañagas; Equitable PCI Bank Chairman Antonio Go; Governor Buenaventura; Equitable PCI Bank President Rene Buenaventura; President Paterno; & JBIC Chief Representative Osamu Murata.
Most outstanding performing PFI under the IGLF-Rural Bank category, First Macro (L to R) SEVP Tumangan; Chairman Nañagas; First Macro (RB Pateros) general manager Editha R. Millendez; Governor Rafael Buenaventura; First Macro (RB Pateros) chairperson and president Sonia L. Ocampo, President Paterno, and World Bank manager for portfolio and operations, Christopher Hoban.
Special Citation for Metrobank. Chairman Nañagas, Governor Buenaventura; President Paterno, and World Bank manager for portfolio and operations Christopher Haban laud Metropolitan and Trust Co. Vice Chairman Placido Mapa, Jr. for their special citation for consistently topping the wholesale lending operations since the program’s inception in 1990.
Best in Loan Syndication. Citibank N.A. Philippine Branches Country Corporate Officer James Hunt (right) receives the award for loan syndication from President Paterno, Governor Buenaventura and Chairman Nañagas. |
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