State Dining Room, Malacañan Palace
March 28, 2023
President Ferdinand R. Marcos Jr. held a sectoral meeting on the proposed merger of Land Bank of the Philippines (LBP) and Development Bank of the Philippines (DBP) at the State Dining Room in Malacañan Palace.
According to Department of Finance (DOF) Secretary Benjamin Diokno, this merger will make it the biggest bank in the country in terms of asset.
Another advantage is that it will result to bigger savings for the national government at approximately PhP5.3 billion in the first year or around PhP20 billion for the next four (4) years.
With the merger, the more robust and competitive bank from the State will be able to provide better and more accessible financial services to the Filipino people.
* * *