Administration Scuttles Plan to Merge Landbank and DBP

The administration has formally dropped the merger of two state-run banks initially pursued by finance officials during Aquino’s term. Advocates of the merger between Landbank of the Philippines and Development Bank of the Philippines (DBP) said that the merger would make the surviving entity a stronger bank. But current Finance Secretary Carlos Dominguez III disagreed, saying that Landbank serves the agriculture sector, while…

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