News Formal

Bill on Landbank-DBP merger out, but no word on retrenchment

  • 📰 inquirerdotnet
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 86%

United States News News

United States United States Latest News,United States United States Headlines

Wary of two earlier attempts that failed, the government remained very cautious about its announced plan to merge the Landbank and the Development Bank of the Philippines. | JMAurelioINQ /PDI

Landbank and its subsidiaries was estimated to have more than 10,000 employees in 2019 while the DBP group is estimated to have more than 3,000.

In the latest attempt, Tambunting cited the need to strengthen the banks’ financial capabilities and improve the delivery of services by merging their “different but complementary mandates.” It was not the first time such a bill was proposed in the House either. In 2015, during the 16th Congress, the House approved a bill proposing the banks’ consolidation but the measure failed in the Senate.

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:

 /  🏆 3. in US
 

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

United States United States Latest News, United States United States Headlines

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

Solon eyes re-filing LBP, DBP merger bill | Jovee Marie de la CruzANG Probinsyano Rep. Alfred C. Delos Santos announced last Wednesday that lawmakers should be reminded of an 8-year-old bill on the merger of the Development Bank of the Philippines (DBP) and the Land Bank of the Philippines (LBP). The 19th Congress has one pending bill filed so far on the…
Source: BusinessMirror - 🏆 19. / 59 Read more »