The Department of Finance (DOF) has submitted a draft executive order (EO) on the proposed merger of the Land Bank of the Philippines and the Development Bank of the Philippines (DBP) for President Marcos to consider, according to DOF Secretary Benjamin Diokno.
The secretary hopes it will be signed before the end of May.
However, both the Malacanang and the Governance Commission on GOCCs (GCG) has yet to comment on the development.
Meanwhile, the DBP maintains that proper and legal process should be done to protect the interests and welfare of its clients and stakeholders.
