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Landbank, UCPB merger to promote rural development, expand lending activities
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Merger plan to affect LANDBANK s profitability
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Published June 30, 2021, 7:30 AM
The merger of government-controlled banks Land Bank of Philippines (Landbank) and United Coconut Planters Bank (UCPB) will expand and increase funding for the agricultural sector, said Landbank in a statement.
Landbank president and CEO Cecilia C. Borromeo said the combining of two large banks’ resources will benefit the country’s farmers and fisherfolk because it will be better capitalized and could expand its 722 branches to service the agricultural sector.
Landbank president and CEO Cecilia C. Borromeo
She said the proposed merger “will also be beneficial to existing UCPB clients because they can access the bigger branch and ATM (automated teller machine) network of Landbank and will be able to avail of a wider range of products and services such as the digital banking service.”
Duterte approves merger of Landbank, UCPB
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LANDBANK-UCPB merger OK d - BusinessWorld
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