UCPB: Landbank-UCPB merger takes effect on March 1

MANILA, Philippines --- With regulatory approvals completed, the merger of state-run lenders Land Bank of the Philippines (Landbank) and United Coconut Planters Bank (UCPB) will take effect on March 1. In a public notice on Wednesday, the two banks said the Bangko Sentral ng Pilipinas' (BSP) Monetary Board and the Securities and Exchange Commission (SEC) had green-lit the merger endorsed by the Governance Commission for GOCCs, which will leave Landbank as the surviving entity. The Philippine Deposit Insurance Corp. (PDIC) also gave its consent to the merger set into motion by Executive Order (EO) No. 142 issued by President Rodrigo Duterte in 2021. However, Inquirer's Biz Buzz colu...Keep on reading: Landbank-UCPB merger takes effect on March 1