Senate Deputy Minority Leader Risa Hontiveros on Wednesday warned against the proposed merger of the Landbank of the Philippines and the Development Bank of the Philippines , saying it could result in a financial entity that is “too big to fail.”
“We have to understand exactly where the redundancies are and what efficiencies can be gained from this merger, and balance these against any risks that the merger may pose to the economy and financial system,” she said. Further, she noted the history of controversies, such as behest loans and other transactions that were allegedly tainted with undue influence and conflict of interest, wherein the DBP was involved.
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‘Too big to fail:’ Hontiveros, Gatchalian raise concerns over DBP-Landbank mergerTwo senators have cautioned the government over its planned merger of two state-run banks, which they said would create a “super monopoly” or could result in a financial entity “too big to fail.” | MAgerINQ
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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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DBP: Merger with LANDBANK requires legislationState-run Development Bank of the Philippines (DBP) on Tuesday said the plan to merge it with the Land Bank of the Philippines would require legislation.
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