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10
Feb
2016
2016
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.
