Marcos backs Landbank-DBP merger

supports the proposed merger of state-controlled lenders Land Bank of the Philippines and Development Bank of the Philippines 'to make it the biggest bank in the country,' his Finance chief said Tuesday.The President and his economic team discussed the merger during a sectoral meeting held on Tuesday in Malacañang.

'The President expressed the desire to merge the two, to make it the biggest bank of the country because of the recent financial developments abroad,' Diokno told reporters.'That's really the best practice. The biggest bank is usually owned by the state, globally,' he said, adding that the merger will save the government around P5.3 billion per year in the next four years.'As a result of the merger, there will be savings, the merged bank will be stronger.

Singapore Singapore Latest News, Singapore Singapore Headlines

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

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
Source: inquirerdotnet - 🏆 3. / 86 Read more »

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.
Source: gmanews - 🏆 11. / 68 Read more »

Indonesia says business deals with PH from Marcos' state visit 'ongoing'The Philippines and Indonesia are now working on some economic cooperation deals that were brokered during a meeting between President Ferdinand 'Bongbong' Marcos Jr. and President Joko Widodo in Jakarta in September 2022. | ManilaBulletin
Source: manilabulletin - 🏆 25. / 51 Read more »