* AI ("Artificial Intelligence") subtitles on Tagalog.com are generated using "Whisper" by OpenAI (the same company that created ChatGPT and DallE2). Results and accuracy may vary.
* The subtitles do include errors occasionally and should only be used as a tool to help with your listening practice.
* You can request this website to create a transcript for a video if one doesn't already exist by clicking the "Request AI Subtitles" button below a video. Transcribing usually takes 30-40% of the length of a video to complete if there are no other videos in
the queue. For example, a 21 minute video will take 7-8 minutes to transcribe.
* Running a super fast cloud GPU server to do these transcriptions does cost money. If you have the desire and financial ability, consider
becoming a patron
to support these video transcriptions, and the other tools and apps built by Tagalog.com
00:00.0
The first one is the merger of the Development Bank of the Philippines and the Land Bank of the Philippines.
00:08.0
By merging the two, it will now become the number one bank in the Philippines, ahead of Banco de Oro in terms of asset.
00:18.0
Now, the President expressed the desire to merge the two, to make it the biggest bank in the country
00:27.0
because of the recent financial developments abroad, and that's really the best practice.
00:35.0
The biggest bank usually is owned by the state, globally.
00:40.0
Now, he expressed concern that in the process of merging, that none of the services provided by either bank will be lost.
00:52.0
We assured him that with the merger, because both the Land Bank and DBP are universal banks,
00:59.0
they do almost the same, except that one is focused on agri, the other one on industrial projects,
01:07.0
but they do practically the same, and that as a result of the merger, there will be savings,
01:15.0
and the merged bank will be stronger, and in fact, one likely outcome of this is that
01:23.0
maybe the interest rate that they will charge will be lower than either of the two at the moment.
01:30.0
Between the two of them, of course, as you know, the Land Bank is the bigger bank, right?
01:37.0
It has how many branches?
01:42.0
Land Bank has 752 branches at the moment, and the Development Bank of the Philippines has 147 branches.
01:56.0
Now, we mapped them, and maybe as a result of the merger, only 22 branches of DBP will be retained,
02:08.0
and the plan is that Land Bank will have a branch in all LGUs in the Philippines.
02:19.0
It could be a combination of light branches or big branches, ATMs, etc.
02:28.0
Now, the advantage of this is that we will be able to save a lot of money for the national government.
02:38.0
We estimate that the savings will be in the neighborhood of, at least for the first year around,
02:51.0
let me be more precise, 5 billion.
02:57.0
Definitely may mawawalan kasi there's redundancy, and then mag-reduce the number of branches,
03:07.0
but there's usually a package naman, voluntary, and then they can choose to retire.
03:14.0
Since they are government official, they can retire under GSIS, or we will offer an unattractive package for those who will be separated.
03:24.0
May estimate tayo, Sir?
03:26.0
Wala pa tayong estimate at the moment.
03:28.0
Sir, mga kailan po kaya yung parang full effectivity ng merger?
03:32.0
It's too early to say, but I would think before the end of the year.
