Marcos OKs DBP-Landbank merger

He said it was taken up during the subsequent administration of Rodrigo Duterte but it also did not push through.Landbank is the biggest credit provider to small farmers and fishermen while mandated to provide banking services principally to cater to the medium- and long-term needs of agricultural and industrial enterprises with emphasis on small- and medium-scale industries.

Projected operating costs savings due to the merger could reach at least P5.3 billion per year, or more than P20 billion over the next four years; this is a conservative estimateThe improved financial position will provide a bigger headroom for loans that can be used for development projects The merged bank will be in the best position to serve as the sole authorized government depository bank for the entire Philippine government and its instrumentalities

“Both banks are performing well, but we have to constantly seek better ways of doing things,” Diokno said.

NCorralesINQ RonWDomingoINQ 😳

NCorralesINQ RonWDomingoINQ fish

NCorralesINQ RonWDomingoINQ Landbank acquired UCPB and now this merger, so thats three banks in one bank. Clearly the govt is looking to fund MWF.

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DOF's Diokno: Marcos OKs Landbank-DBP mergerPresident Ferdinand Marcos Jr. approved the proposed merger of state-run lenders Land Bank of the Philippines and Development Bank of the Philippines (DBP), with Landbank as the surviving entity that could become the largest bank in the country in terms of assets.
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Bongbong Marcos backs Landbank-DBP merger, says Finance secretaryFinance Secretary Benjamin Diokno said President Ferdinand Marcos Jr. had “approved” the planned merger of DBM with Landbank of the Philippines in a sectoral meeting on the merger in Malacañang. | DYGalvezINQ / RonWDomingoINQ
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Marcos backs Landbank-DBP mergerPresident Ferdinand Marcos Jr.
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Marcos approves merger of Landbank, DBPPresident Ferdinand Marcos Jr. gave his thumbs up to the proposed merger of LandBank and the Development Bank of the Philippines (DBP) following recent developments in the international banking sector, the Finance chief said. Yes sir, monopoly these merger will benefits the lender, the borrowers have a hard paying the loans,interest rates is rising 6.25% causing defaults for unemployed or health issues may arise on the family. Thus far these 2 Senators Gatchalian & Hontiveros are doing their jobs.
Sumber: CNN Philippines - 🏆 13. / 63 Baca lebih lajut »