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We noted the previous year that changes and recent events in the banking industry, and the continuing growth of competition among banking institutions of all sizes have called for more imaginative and creative strategies to remain competitive. This outlook has not changed, and may even have become more of a challenge to us. Newcomers in the industry introduced the lowering of interest in loans or lending in order to get a share of the “pie”. At the forefront, our loan warriors are trying to defend our pricing to prevent our level going below expectations. They feel there is a need to look into focused nurturing of our existing and future clientele.
At the end of 2015, the Bank ended with total resources of 1.290 billion, or an increase of 4.28 percent from last year. The marginal decrease in net income – 14.258 million this year compared to last year’s 14.268 million, or 0.07 percent was due to the decrease on interest income from Loans and Receivables brought about by reduction on interest rates due to fierce competition introduced by newcomers in the industry particularly in the Bukidnon area. Interest income from investment securities registered at 12.327 million or an increase of 5.89 percent from last year’s 11.641 million. Total interest expense on deposit liabilities, was booked at 16.794 million versus the previous year’s 17.038 million, a decrease attributable to the maturity of some of the high cost deposits. Operating costs decreased by 5.68 percent from 50.496M last year to this year’s 47.629 million.
The total capital funds or net worth was 250.565 million, an increase of 3.04 percent against last year’s figure of 243.164 million. A capital build-up program for the bank was submitted and approved by the BSP in order to meet the requirements under Basel III – 300M for thrift banks. The build-up program is to commence this year 2015 and to be finished by 2019 via two taps – the first being on 2017 and the last on 2019 should there be deficiency.
To explore and develop new avenues of opportunity, the Bank through its Board of Directors, formulated strategies to chart the Bank’s course for the following year. These were all included in the establishment of a 2016 Strategic Plan for the Bank which included a medium outlook beyond 2016.
I express my appreciation to the Bank’s Board of Directors, to the different Board Committees, our Advisors, the Senior Management, Compliance and Audit Offices, our staff and Junior Officers at all levels in keeping pace with the challenging times.
Our commitment to growth and excellence has not been hampered by the challenges we face in the banking industry. It is along these thoughts that with the admirable commitment and enthusiasm of working smartly coupled with the right attitude and conviction of changing our approaches in banking, I want to believe we can all bring DCDB to greater heights with this thought… “Let us continue to nurture well our relationships with our most valuable assets – OUR CLIENTS”.
In Compliance with the PCHC Circular No. 15-460.A the bank will NO longer accept any check that: 1. Shows or indicates on its face any erasure or alteration (of the date, name of the payee (whether indicated as "Cash" or "Bearer" or "Holder" or a specific name or any other word or phrase of … [Read More...]