THE impending merger of Development Bank of the Philippines (DBP) and Land Bank of the Philippines will be scrapped by the incoming administration saying that the main clientele of these banks do not care whether they are being served by a “mega bank” so long as they get their loans on time at reasonable interest rates.

In a press briefing over the weekend, incoming Finance Secretary Carlos Dominguez 3rd, said that the Executive Order (EO) 198 issued by outgoing President Benigno Simeon Aquino 3rd, is an act that is beyond the scope of the authority and power of the executive branch of the government.

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