Employees of government-owned Development Bank of the Philippines (DBP) staged a picket outside the bank’s headquarters in Makati to protest the proposed merger with Land Bank of the Philippines.
Members of the DBP employees’ union attached posters on the DBP sidewalk fence opposing the proposal to have the bank absorbed by the bigger state-owned lender.
This is not the first protest that the employees have staged to oppose the plan, which will most likely leave some employees jobless due to redundancies.
The proposed merger, which is being pushed by Finance Secretary Benjamin Diokno, will result in Landbank becoming the largest bank in the Philippines with n estimated asset size of about P4.18 trillion.
— Christian Maño (@xtian_mano) May 26, 2023