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Congress urged to probe looming DBP-LBP merger

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Development Bank of the Philippines supports and is even pushing for a probe in Congress of the Executive branch’s plan to merge it with Land Bank of the Philippines. | RonWDomingoINQ /PDI

On April 26, DBP in a statement thanked Sen. Risa Hontiveros for filing her proposed Senate Resolution No. 570, which would allow for a more extensive analysis and broader consultation with key stakeholders and resolve not just the legal issues but all the operational and personal issues voiced out by the affected employees of both DBP and LBP.

The state bank’s management expressed unity with its employees in expressing concern on the impact of the merger on their livelihood and employment, their financial security and their current status as government employees. Meanwhile, the GCG said on April 25 that it has not yet made a decision on proceeding with the merger—only that it has determined that this process does not require legislation to be done.

 

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