DBP accuses DOF of railroading LBP merger

The Development Bank of the Philippines , in a statement issued Monday, May 8, expressed "deep concern" about the Department of Finance 's pronouncement that the proposed merger with the Landbank of the Philippines will be “completed by November”.

"We are deeply concerned on the palpable efforts to railroad the process and to create public confusion by insinuations that the unification would be “completed by November,” DBP stressed. "The DOF statement is an utter disregard of the growing clamor from policy-makers and key stakeholders on the need to undertake transparent discussion and meticulous analysis of all issues considering the planned merger’s impact especially on the livelihood and tenure of DBP’s employees," according to the bank.

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Landbank-DBP merger needs law, not just EO, says lawmakerThe proposed merger of state-run banks Development Bank of the Philippines and the Landbank can only be done by congressional action, and not by mere executive order, Albay Rep. Edcel Lagman said in a statement. | jiandradeINQ /PDI
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