Senate probe into ‘potential risks’ of proposed Landbank-DBP merger sought

A resolution seeking to investigate the "potential risks" of the proposed merger of the Landbank of the Philippines and the Development Bank of the Philippines has been filed in the Senate.

"The Senate needs to look into concerns [about] the potential risks the contemplated merger may bring to the stability of the banking industry and the economy, as the consolidation of these banks to form the largest bank in the country could concentrate risks and increase vulnerability to financial market stress and economic shocks," Gatchalian said in his resolution.

But Gatchalian noted the appeal of the DBP to the GCG’s study, arguing that the latter did not study the propriety of the merger and that the legal authority of the GCG is at best recommendatory and not binding on any government agency.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Philippines all-business after upset win over New Zealand, says coach“We had some luck but we also earned our luck,” says coach Alen Stajcic after the Philippine women’s team fulfilled its promise to crash the World Cup party. FIFAWWC
Source: rapplerdotcom - 🏆 4. / 86 Read more »