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DBP accuses DOF of railroading LBP merger

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The DBP, in a statement issued Monday, May 8, expressed 'deep concern' about the Department of Finance's pronouncement that the proposed merger with the Landbank of the Philippines will be completed by November. | ManilaBulletin

The Development Bank of the Philippines , in a statement issued Monday, May 8, expressed "deep concern" about the Department of Finance 's pronouncement that the proposed merger with the Landbank of the Philippines will be “completed by November”.

"We are deeply concerned on the palpable efforts to railroad the process and to create public confusion by insinuations that the unification would be “completed by November,” DBP stressed. "The DOF statement is an utter disregard of the growing clamor from policy-makers and key stakeholders on the need to undertake transparent discussion and meticulous analysis of all issues considering the planned merger’s impact especially on the livelihood and tenure of DBP’s employees," according to the bank.

 

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