, Philippines

Merger of Philippine banks Landbank, UCPB to take effect on March

All accounts under UCPB will be transferred under Landbank.

The legal merger between United Coconut Planters Bank (UCPB) and Landbank of the Philippines will take effect on 1 March, in accordance with Executive Order No. 142 signed by Philippine President Rodrigo Duterte on 25 June 2021.

UCPB and Landbank have also secured the regulatory approvals of the Philippine Deposit Insurance Corporation, the Monetary Board of the Bangko Sentral ng Pilipinas, and the Securities and Exchange Commission, for the merger.

UCPB will be migrating all of its customers’ accounts to Landbank and will be issuing advisories to guide the transition. 

The merger ends UCPB’s 58 year run in the Philippines, with Landbank being the surviving entity of the merger.

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