The DBP has appealed to Malacañang to abort plans to merge it with Land Bank of the Philippines. | Philbizwatcher /PDI
In an interview with Inquirer last week, De Jesus said at the end of the day, the DBP would abide by what the Governance Commission for Government-owned and -Controlled Corporations would recommend. “If GCG says it is [a merger process to be effected] by executive order, then it’s by executive order. The [DBP] board will not oppose.”
“The merger is not good. You’re putting all your eggs in one basket. In the future, in case of a mismanagement or corruption, you only have one bank as opposed to having two,” he stressed. Due to separate single borrower’s limit , DBP argued that both banks complete each other by serving enterprises belonging to common industries simultaneously by having separate industry limits. SBL refers to the limit on total credit commitment to a single bank, currently at 30 percent of the lender’s net worth.On the other hand, a merged entity that may enjoy the benefits of massive capital would still be subjected to SBL and industry limits, which may affect access to development financing.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Libanan: Minority bloc to allow LBP, DBP merger on one conditionThe House minority bloc won't oppose the planned merger of the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP) for as long as Filipino farmers and fishermen won't get left out in the cold. ManilaBulletin
Read more »
Frontrunners emerge from competitive Miss Philippines Earth batchThe Miss Philippines Earth pageant may have gathered only 29 delegates for this year’s competition, but the haul appears to have been focused on quality over quantity. | diyarista
Read more »
Isolated rainshowers seen in Metro Manila, rest of PhilippinesPAGASA on Sunday said partly cloudy to cloudy skies with isolated rainshowers or thunderstorms are expected in Metro Manila and other parts of the country due to the trough of a low pressure area (LPA) and localized thunderstorms.
Read more »
LPA enters PAR, may become Philippines’ first tropical cyclone for 2023WeatherAlert: Eastern Visayas and Caraga are seeing rain on Monday, April 10, from the trough or extension of the low pressure area.
Read more »
Crown or not, these Miss Philippines Earth candidates already feel like queensEvery pageant has a queen, some even more than one. But for some 2023 Miss Philippines Earth candidates, they do not need to wear a crown to feel like royalty. All they need are moments of self-care and a heart for others. | diyarista
Read more »
LPA off Eastern Samar to bring rains across parts of PhilippinesA low-pressure area (LPA) off Eastern Samar will spur rains across a large swath of the country on Monday, according to state weather bureau PAGASA.
Read more »