• Admin junks DBP-Landbank merger
    The Duterte administration will repeal former President Benigno Aquino III’s order to merge state-run lenders Development Bank of the Philippines and Land Bank of the Philippines, Finance Secretary Carlos G. Dominguez III said. According to Dominguez, the merger of DBP and Landbank cannot be done through a mere executive order, stressing in an earlier statement that such requires legislative action.
  • New administration to decide on DBP-Landbank planned merger
    THE MERGER of state-run lenders Development of the Philippines (DBP) and Land Bank of the Philippines moved forward with a business plan filed before the Bangko Sentral ng Pilipinas (BSP) last week even as officials said there was no more time to finish the process before President Aquino steps down next month.  
  • Aquino approves Land Bank, DBP merger
    President Benigno S. Aquino III has approved the proposed merger of two state-owned lenders Land Bank of the Philippines and Development Bank of the Philippines (DBP). With the merger, Land Bank – DBP will be the second largest bank in terms of assets in the country at P1.604 trillion, dislodging Metropolitan Bank and Trust Company (Metrobank) with P1.367 trillion as of September 2015. BDO Unibank is still the country’s biggest bank with total assets of P1.884 trillion.  
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