The Development Bank of the Philippines said Wednesday it is prepared to work with Congress, participate and provide unequivocal support to any legislative inquiry that may be undertaken concerning the proposed merger with Landbank of the Philippines.
“We share the sentiments of our legislators on the need to undertake a rigorous and meticulous analysis of the proposal as the planned merger would entail a significant impact not only to the future of the two largest financial institutions of the government but also to the wider banking industry and to the Philippine economy in general,” the state-run bank said in a statement.
DBP and its employees expressed concern on the ramifications of the merger on their livelihood and employment, their financial security and their current status as government employees. “We stand by our DBP union leaders in seeking alternative and viable platforms where their collective voices may be properly heard and their legitimate concerns may be effectively addressed,” it said.
DBP said any congressional inquiry, in aid of legislation, would serve as a pivotal venue to facilitate healthy, dynamic and robust discourses and enable all stakeholders to thresh out the myriad of issues surrounding the merger to arrive at the best possible approach that would redound to the best interests of the Filipino people.