Call for joint effort by state and OFW Banks

Manila: Development Bank of the Philippines (DBP) president and chief executive officer Reynaldo David said that the proposed Overseas Filipino Workers (OFW) Bank must join hands with the government-owned DBP and Land Bank of the Philippines to ensure a successful operation and deliver better banking services to the more than 8 million Filipinos working abroad.

"There's a role that each one fills. And if you could marry those roles, then you can have an efficient system," David told Gulf News.

"I will inject more funds. Let DBP and LBP invest in the OFW bank. There is complimentation of interest. Then you have injected potency into that because you got LBP and DBP, which are both commercial banks and have the linkages abroad," he added.