THE merger of Land Bank of the Philippines and Development Bank of the Philippines might be challenged before the Supreme Court by possibly affected stakeholders like farmers if the proposal pushes through, a DBP official cautioned.
“There are persons or sectors that will be a victim [of the merger], the coconut farmers, for example,” Tiñga told reporters in an interview on Thursday. Finance Secretary Benjamin E. Diokno earlier announced that the EO could be issued before the month ends, with the merger being done by November. Nonetheless, he pointed out that it is critical to determine the “predominant” roles and functions of the two banks in tackling a possible merger.
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