The merger will leave LandBank, the country's largest public sector bank, as the surviving institution. Coconut growers, according to her, would be able to benefit from the bank's established competence in agriculture and agribusiness lending. Agriculture lending has also expanded steadily, from P222.05 billion in 2018 to P236.31 billion in 2019 and P237.62 billion in 2020, according to the lender. The management expertise of Landbank is expected to help UCPB, defending the interests of coconut producers in the would-be merged banks. "The merger enables UCPB and its clients to benefit from the strength, stability, scale and reach of LandBank," UCPB Officer in Charge Liduvino Geron, meanwhile, said.

Source: Manila Times June 29, 2021 17:26 UTC