TEHRAN, IRAN - Development Bank of the Philippines (DBP)
president & chief executive officer Reynaldo G. David has been named
Outstanding CEO of the Year by the Association of Development Financing
Institutions in Asia and the Pacific (ADFIAP) in recognition of his
leadership and performance in the state-owned bank. The award was given
during ceremonies held at the Esteghial Grand Hotel.
David was especially cited for leading DBP in the
delicate balancing act of accomplishing its development mandate while
boosting its financial strength to record levels as it achieved a net
income of $95-million and $105-million in 2006 and 2007, respectively.
DBP also contributes one of the biggest shares in dividends to the
government by state financial institutions.
"I am indeed blessed in having a career long enough
to face the challenges and receive the joy of being with DBP. As one of
two major policy banks in the country, the holy grail of our business is
of course development banking, rather than commercial banking. In this
regard, we’re always conscious of ensuring that the projects we
undertake leave a real mark on our people, our surrounding, the
environment, and on history," David said in his acceptance message.
Under David’s stewardship, DBP was ranked among the Top 1000
commercial banks worldwide by The Banker magazine. DBP achieved a
country ranking of 4, and an international ranking of 718 (up from 769
previously) based on Tier 1 capital, real profits growth, and return on
assets, among others. The bank also scored highest among 31 state
corporations in the first run of the Corporate Governance Scorecard in
2006.
