“GCG will have to look into the specifics of the merger as it involves two major banks that are state-owned,” Quiroz said.
Created under Republic Act No. 10149 of 2011, GCG is the central policymaking and regulatory body mandated to safeguard the state’s ownership rights and ensure that the operations of GOCCs are transparent and responsive to the needs of the public.GCG Commissioner Gideon Mortel expressed gratitude that the President “recognizes the oversight function” of the GCG on the matter of the Landbank-DBP merger.
Meanwhile, Landbank’s mandate is to promote countryside development and provide credit assistance to small farmers and fisherfolk as well as agrarian reform beneficiaries.
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Hontiveros warns DBP, LandBank merger could result in ‘too big to fail’ bankSenate Deputy Minority Leader Risa Hontiveros on Wednesday warned against the proposed merger of the Landbank of the Philippines (LBP) and the Development Bank of the Philippines, saying combining both state-run banks could result in a financial entity that is “too big to fail.” Im confused. Anyone can explain?
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PBBM pushes LBP-DBP merger | Samuel P. MedenillaPRESIDENT Ferdinand R. Marcos Jr. is now pushing for the merger of Land Bank of the Philippines (LBP) and Development Bank of the Philippines (DBP) as part of government efforts to cut costs and boost the efficiency of its banking operations. He greenlit the proposal for LBP to absorb DBP…
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