Published July 18, 2021 3:55pm
Senator Leila M. de Lima on Sunday sought a Senate investigation into the planned merger of the Landbank of the Philippines (Landbank) and the United Coconut Planters Bank (UCPB) to ensure that the rights of coconut farmers and those served by the Landbank are not compromised.
“It behooves upon the Senate to determine whether the Landbank’s absorptive capacity would allow it to carry the liabilities and obligations of UCPB without, or at least with very minimal impact, on the Filipinos its charter intends to cater and serve,” said de Lima in a statement.
“The contrasting mandates of Landbank and UCPB should be reason enough to question, if not forthwith demand, the termination of the merger proceedings, as was done by the government when it halted the merger proceedings involving DBP and Landbank in 2016.”