On August 16, 2021, the Development Bank of the Philippines Leasing Corporation (DBPLC) welcomed retired AFP BGen. Jess G. Estoesta, as its fifth (5^th) President & Chief Executive Officer (PCEO), succeeding Mr. Danilo T. Reyes, who served as director and PCEO for the past seven (7) years.

The virtual change of leadership ceremony, the first ever in the history of the corporation, was graced by the esteemed presence of DBP Chairman Alberto G. Romulo and DBP PCEO Emmanuel G. Herbosa. The two honored guests acknowledged the services of outgoing PCEO Reyes and congratulated BGen. Estoesta for his newly assumed position as the 5th PCEO of the corporation which is a continuation of his almost 40 years of public service to the country. The ceremony was also witnessed by the DBPLC Chairman Cyr C. Gonesto, DBPLC Directors Andrew C. Kong, Danilo E. Bernal Jr. and Benhur S. Mongao as well as the DBPLC Management & staff.

In his acceptance speech, President Estoesta outlined the priorities under his term and undertook to continue the best corporate practices of the previous administration. He also committed to improve the performance of the Corporation.

PCEO Estoesta was appointed by President Rodrigo Roa Duterte as a Director of DBPLC on July 15, 2020 and was elected as the DBPLC Vice Chairman on May 2021 and subsequently as its President & Chief Executive Officer. He was the Chairman of the Risk & Governance Committee and is a member of the Nominations & Remunerations Committee and the Credit Committee of DBPLC.

Prior to his appointment as DBPLC Director, President Estoesta spent almost four decades in the  Armed Forces of the Philippines (AFP) in various capacities. Among which were; as Commanding Officer of the Air Power Institute, as Director for Operations of the 2^nd Air Division of the Philippine Air Force (PAF), as Deputy Senior Military Assistant at the Department of National Defense, as the Assistant Deputy Chief of Staff for Personnel of the AFP and finally as Chief of the Office for Legislative Affairs of the AFP. He retired with the rank of Brigadier General on December 14, 2019.

President & CEO Jess Gumabao Estoesta graduated with the Philippine Military Academy "Hinirang” Class 1987. He is an accomplished military pilot and a qualified flight instructor. He earned his graduate diplomas in Human Resource Management and Purchasing & Supply Chain Management at the De La Salle – College of St. Benilde. He also has a Master’s degree in Management Studies in Human Resources Management from the University of New South Wales in Australia and a Master’s degree in Strategic Security Studies from the National Defense Univerity in Washington DC, USA.

DBP LEASING CORPORATION

What is Leasing?

Leasing is a form of medium-term financing suitable for acquiring assets such as machinery, equipment, vehicles, vessels and even buildings. It begins with the customer, or lessee, choosing the specific type of asset, which the leasing company then buys from the customer‘s preferred vendor then leases to the customer. The lease generally requires a minimal up-front cash outlay of 10-20% from the lessee in the form of a guaranty deposit. And depending on the type and durability of the asset, the lease term may run from 2-10 years, allowing the lessee unrestricted use while paying the rentals during much of the asset’s useful life. At the end of the lease, the lessee is given options on the disposal of the leased asset.

If you are in a highly competitive industry that demands frequent changes in technology, or when budget constraints prevent you from buying capital asset, leasing can make it easy and convenient for you to acquire that much needed asset, when you need it.

Benefits of Leasing?

• Solves budget constraints in acquiring capital assets.
• Provides medium-term financing of up to 10 years, depending on the type of asset.
• Protects against interest rate fluctuations because lease payments can be fixed over the lease term.
• Saves transaction cost due to absence of mortgage related expenses.
• Improves Lessee’s asset monitoring and management functions.
• Allows Lessee multiple asset disposal options at the end of lease.