DBP eyes more tie-ups with financial firms for financial Colombia

  • DBP eyes more tie-ups with financial firms for financial Colombia
  • DBP eyes more tie-ups with financial firms for financial Colombia
  • DBP eyes more tie-ups with financial firms for financial Colombia
  • Will DBP-Daiwa Capital become redundant?
  • DBP-Daiwa Capital, as a consequence of the merger, will become redundant. Landbank has its own securities brokerage firm, Landbank Securities Inc., also a PSE member firm. COL Financial was formerly CitisecOnline.com, Inc. It was incorporated on August 16, 1999, and on February 21, 2012, SEC approved the company’s change in name to the present one.
  • Will Landbank merge with DBP?
  • The current administration has been hell-bent in merging Landbank and DBP as part of its claim to strengthen the resilience of the financial sector at the same time to better serve the country’s development needs. The program is set to be completed in the first half of 2024, with Landbank as the surviving entity.
  • What will DBP-Daiwa Capital do?
  • As part of the measures that DBP-Daiwa Capital has to take, it will cancel its registration as a securities broker with the Securities and Exchange Commission (SEC) and cease its operations with the Philippine Stock Exchange (PSE). It will also suspend voluntarily its trading operations with the Capital Markets Integrity Corporation (CMIC).
  • Who owns DBP-Daiwa Capital?
  • Ownership in the formed brokerage firm were split three ways with Daiwa International holding a 60% interest while DBP held 35%. The balance of 5% was held by the Yuchengco-led Pan Malayan Management and Investment Corp. DBP-Daiwa Capital reported a net income of P946 million before the COVID-19 pandemic in 2019.

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