Duterte OKs merger of LandBank, UCPB

By Catherine S. Valente

Jun 29, 2021 8:15 pm

PRESIDENT Rodrigo Duterte has approved the merger between the Land Bank of the Philippines (LBP) and the United Coconut Planters Bank (UCPB) to 'strengthen [their] capability to deliver financial services to [the] coconut industry and the entire agricultural sector'.

Executive Secretary Salvador Medialdea, by the authority of the President, signed Executive Order (EO) 142 on June 25, ordering the merger of the two government financial institutions.

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