Your Responsible Partner for Growth
July 1980-incorporated by Mr. Julio O. Sy, Sr. Ms. Lourdes M. Calumpang, Ms. Tita R. Sung, Mr. Jose E. Romero, Jr....
DCDB is committed to become one of the leading development banks in the Visayas-Mindanao Region...
“Let’s Make Possibilities Into Ladders of Success…”
The banking industry is besieged by tough challenges in sustaining if not growing their net interest margins and 2013 was not different. Competition has intensified among the big banks and even with the small industry players like DCDB. We saw our peer banks and even rural banks undertake radical moves to expand and strengthen their market position through branching out and went through exploring and identifying technology as a key to growth.
In 2013, DCDB showed a 15.58 % increase in its resources which totaled to P1.225 billion compared to 9.29% or an outstanding balance of P1.060 billion in 2012. Its net income after tax climbed to P19.6 million versus a P15.12 million in 2012 or 29.77% increase. The increase in its resources was attributed to its investments in Available for Sale Securities by about 403.74% or about P149.90 million compared from the previous year. The gain from the sale of AFS Securities also boosted the income of the bank vis-a-vis the reduction of interest rates offered by the big banks on our deposits with them. Interest earned previously on our deposits with BSP including the regulatory reserve requirement was also peeled off. A meager contribution of P4.52% from Loans and Receivables which was posted at P491.1 million (net) at year-end pitched in. There was also the reduction on the total interest expense on Time Deposits by about 7.78% due to the gradual reduction of interest offered.
The capital funds ended in 2013 at P218.387 million a slight increase of 2.02% versus the balance of P214.068 million in 2012. In June 21, 2013, the bank distributed stock dividends declared in 2012 corresponding to 25% of the outstanding common stock and 10% cash dividends to stockholders of record as at December 31, 2012. It was also this year that the bank went live in November 2013 in its ATM operations with four ATM units distributed to all four branches through our affiliation with BancNet.
This year 2013, DCDB got another rating of “CAMELS 4″ based on BSP’s audit as of cut-off last September 30, 2013. And this could only be possible, I believe, because we have toiled and worked smartly enough to bring forth our business processes in the right layers. In behalf of the Board of Directors and the bank’s Consultants, the different board committees, I am extending our appreciation to the Senior Management, the Compliance and Audit offices, the Officers and Staff of DCDB for a job well done.
It is also my wish to look forward and urge everyone in the bank to remodel our thinking, and take a new mindset in banking. As a Manager, do not just be a “Custodian of the Branch” rather be a “Business Person”. I want to believe that by performance, not just compliance, we will be creating more opportunities to intensify our banking processes in order to deliver stronger shareholder value and better satisfied customers. And so, take this challenge… “Let us take possibilities and make them ladders of success”.