News Formal

Philippines president backs merger of two state lenders to create country's biggest bank

  • 📰 Reuters
  • ⏱ Reading Time:
  • 7 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 6%
  • Publisher: 97%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Philippines President Ferdinand Marcos Jr is pushing for the merger of two state-run banks, which will create the country's largest lender by assets, his finance secretary said on Tuesday.

The planned merger, first approved by President Benigno Aquino in 2016 but scrapped later that same year by his successor Rodrigo Duterte, was revived "due to recent financial developments abroad," Finance Secretary Benjamin Diokno told a media briefing.

"The merger will create a bigger and stronger bank to better serve the country's development needs," Diokno said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US Vice President Harris promises greater investment for AfricaU.S. Vice President Kamala Harris said on Sunday that the United States will increase investment in Africa and help spur economic growth as she began a week long tour of the continent aimed at offering a counter to the influence of rival China. Great.. from madurai Tamilnadu INDIA Sure. Electrical yellow school buses 🚌 'investment' lol.
Source: Reuters - 🏆 2. / 97 Read more »