Water reservoirs in Can-avid, Eastern Samar. LANDBANK and the local government of Can-avid signed a P220-million loan agreement to finance the construction and upgrading of water system facilities in the municipality.
CAN-AVID, Eastern Samar – Towards inclusive countryside development, the Land Bank of the Philippines (LANDBANK) and the municipal government of Can-avid in Eastern Samar recently signed a P220-million loan agreement to deliver better water service and minimize health hazards in the municipality.
Can-avid Mayor Gil Norman Germino and LANDBANK Samar Lending Center Head Restituta Ilagan led the loan signing held last July 29, 2020, for the construction and upgrading of Can-avid’s water system facilities. Also present were Can-avid Municipal Accountant Celestino Cabanero, LANDBANK Borongan Branch Head Christopher Marco, and LANDBANK Samar Lending Center Account Officer Teofrido Lagria.
According to the municipal government, the project will deliver efficient, uninterrupted, and less expensive supply of potable water to more residents in the area, while reducing the incidence of water-borne diseases caused by unsanitary water sources by as much as 80%.
Can-avid’s water system will be upgraded from level II to level III to serve an additional six (6) upstream barangays previously dependent on individual deep well systems. The enhanced water system will soon benefit a total of 16 barangays covering 2,360 domestic households, 127 institutional establishments, and 190 commercial entities. The project design also has a provision for future servicing of four additional barangays along the national highway.
“LANDBANK has always been a responsive and reliable partner servicing the needs of our municipality. The approval of our new loan will certainly boost the morale of local leaders as it manifests the Bank’s confidence in their leadership and serves as an affirmation of the meaningful programs that we undertake,” said Can-avid Mayor Germino.
LANDBANK and the municipal government of Can-Avid have been development partners since 1992, when LANDBANK first became the depository bank of the LGU. The Bank also granted the Can-avid LGU a P14.92-million term loan in 2007 for farm-to-market roads, which opened access to remote barangays and farm areas, easing the transportation of agricultural products to the market. In May 2017, a LANDBANK Easy Access Facility (LEAF) was also opened in Can-avid located at the Municipal Building ground floor.
Supporting local development
LANDBANK’s financial services support local programs and projects geared towards accelerating local growth, which includes the construction of necessary infrastructure and improved delivery of basic services.
In 2019 alone, LANDBANK financed more than 152,000 kilometers of farm-to-market roads, the construction and renovation of 12 hospital buildings, 33 school buildings, and 354 classrooms, and assisted 37,125 new households get connected with potable water nationwide.
Aside from its regular loans, LANDBANK also helps LGUs of rice-producing provinces through the PALAY ng Lalawigan (PAlay aLAY sa Magsasaka ng Lalawigan) Program to procure palay produced by their local farmers, as well as farm machineries and post-harvest facilities.
In light of the COVID-19 pandemic, LANDBANK has also allocated P10 billion under the HEAL (Help via Emergency Loan Assistance for LGUs) Program as emergency funding for provincial, city, and municipal governments for the procurement of goods and services to support their respective communities.
Last July 29, LANDBANK launched another P10 billion loan program for provincial, city and municipal LGUs called the RISE UP LGUs (Restoration and Invigoration package for a Self-sufficient Economy towards UPgrowth for LGUs) Lending Program to finance the recovery and development of their local economies and communities hit hardest by the health pandemic.
Interested borrowers may contact the nearest open LANDBANK Lending Center or Branch nationwide, or call LANDBANK’s customer service hotline at (02) 8-405-7000 or at PLDT Domestic Toll Free 1-800-10-405-7000.
For more updates, please Follow, Like and Share the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), or visit the LANDBANK website (www.landbank.com).
LANDBANK grants 60-day timeout on loan payments
To continue helping clients cope with the impact of the COVID-19 pandemic, the Land Bank of the Philippines (LANDBANK) is granting a two-month grace period on loan and credit card payments. LANDBANK is providing a one-time 60-day moratorium for all existing, current, and outstanding loans falling due from September 15 until December 31, 2020, without incurring interest on interests, penalties, fees, or other charges. This is in support of the implementation of Republic Act No. 11494 or the “Bayanihan to Recover as One (BARO) Act.” Credit card transactions made, including fees or charges incurred, prior to September 15 shall also be covered by the moratorium. For credit card payments, any unpaid balance from transactions and fees or charges shall not incur interest or finance charges during the mandatory grace period. However, after the end of the applicable grace period, the said unpaid balance shall incur interest or finance charges if not paid in full on new due date. “LANDBANK understands how providing loan relief can significantly support our clients during these difficult times. We look to ease their financial concerns as we continue navigating the challenges of this pandemic,” said LANDBANK President and CEO Cecilia C. Borromeo. LANDBANK will apply the 60-day grace period automatically, without the need for borrowers and credit card holders to apply or request for the relief measure. However, for LANDBANK credit cardholders with Automatic Debit Arrangements (ADA) for payments, they must inform the Bank that they would like to avail of the relief. The grace period shall commence from the payment due date of loans, with principal and/or interest, including amortizations, falling due from September 15 until December 31, 2020. Meanwhile, credit card transactions made on and after 15 September are no longer covered by the BARO Act and shall continue to incur interest or finance charges if not fully paid on or before its original due date. LANDBANK previously granted a similar grace period for loan payments falling due from March 18 to June 30, 2020, in support of Republic Act No. 11469 or the “Bayanihan to Heal as One Act.” Loan accounts that benefitted from this grace period will also benefit from the BARO Act if it remains an existing, current, and outstanding loan as of September 15, 2020. Meanwhile, fund transfer fees are still waived for InstaPay and PESONet transactions until December 31, 2020. For more information on LANDBANK’s 60-day grace period for loan and credit card payments, please visit the LANDBANK website at www.landbank.com/faqs.LEARN MORE
LANDBANK’s online accounts opening breaches 1-M mark
The boom in digital banking being experienced in the country as a result of the Covid-19 pandemic has resulted in an increase in online account opening and other digital banking services, said the Land Bank of the Philippines (LANDBANK). The Bank has recorded 1,039,926 accounts opened online through its Digital Onboarding System (DOBS), as demand for online banking services as well as safer and more convenient ways to transact with banks continue to surge. About 492,156 accounts were opened from January to September 2020, including 11,972 for Overseas Filipino Bank accounts—LANDBANK’s digital-only branchless bank subsidiary. “This milestone is a welcome development for the Bank as it proves that Filipinos are responsive to the improvements and innovations that we implement, designed to provide them additional channels for their banking needs, as well as a more convenient banking experience in this digital age,” said LANDBANK President and CEO Cecilia C. Borromeo. LANDBANK DOBS, a pioneering web application among Philippine banks, was launched in 2019 with the goal of reducing the account opening time from 30-45 minutes to only 10 minutes. It also simplifies the account enrolment process for individuals and institutional clients. Aside from hassle-free account opening, DOBS also provides automatic enrollment to LANDBANK iAccess for internet banking, the LANDBANK Mobile App for convenient banking transactions through their smartphones, and the LANDBANK Link.BizPortal for payment of bills, products and services to the enrolled merchants in the system. The system also allows existing DOBS account holders to update their information through the system, a move to decongest client visits in Bank’s branches, especially in this time of pandemic. “This is only the start for the Bank’s digitization agenda as we also look forward to streamlining other Bank processes using new technologies such as loan application, among others,” President Borromeo said. For this banking innovation, LANDBANK has been recognized as “Asia’s Most Inclusive Bank” by the Financial Insights Innovation Awards 2019, and was conferred as “Digital Trailblazer in Financial Services” by the Bangko Sentral ng Pilipinas (BSP). Access the DOBS through the LANDBANK’s official website (www.landbank.com) or through the Digital Corner of selected LANDBANK branches dedicated for walk-in clients who wish to access the system. Watch the tutorial video on how to apply thru DOBS via the LANDBANK YouTube Channel (www.youtube.com/c/LANDBANKOfficial) For more information about LANDBANK’s DOBS, clients may contact the nearest open LANDBANK Branch nationwide, or call LANDBANK’s customer service hotline at (02) 8-405-7000 or at PLDT Domestic Toll Free 1-800-10-405-7000.LEARN MORE
Institutional investor wins Premyo Bonds Rewards third-quarter grand prize
(first row) National Treasurer Rosalia V. De Leon (right) and Arden Botanical Estate sales and marketing head Rowena Espiritu (left), award P1 million and a condo unit from Megaworld Corporation to Premyo Bonds Third Quarter Rewards Draw grand winner National Power Corporation (NPC) Provident Fund, represented by NPC Provident Fund Chairman Alexander P. Japon (center). They are joined by (2nd row, left to right) Deputy Treasurer Atty. Erwin D. Sta. Ana, LANDBANK Trust Banking Group First Vice President Lolita M. Almazar, Deputy Treasurer Sharon P. Almanza, and Deputy Treasurer Atty. Gisela F. Lood. The National Power Corporation (NPC) Provident Fund received the cash and non-cash rewards for the “Premyo Bonds Para sa Bayan” (Premyo Bonds) Third Quarter Rewards Draw promo of the Bureau of the Treasury (BTr) and partner institutions. The ceremonial turnover—which was held on October 2 at the Ayuntamiento Building, Intramuros in Manila—was led by National Treasurer Rosalia V. De Leon, Deputy Treasurers Atty. Erwin D. Sta. Ana, Atty. Gisela F. Lood and Sharon P. Almanza, and Land Bank of the Philippines (LANDBANK) Trust Banking Group First Vice President Lolita M. Almazar. They were joined by Rowena Espiritu, sales and marketing head of Arden Botanical Estate, Megaworld Global Estate, Inc. The NPC Provident Fund—which made its Premyo Bond placements through LANDBANK—received a P1-million cash prize and a condominium unit from Megaworld Corporation. The rewards were accepted for the institution by NPC Provident Fund Chairman Alexander P. Japon. The Premyo Bonds are deemed one of the safest and affordable short-term investment products when it was offered from November 25 to December 13, 2019. Issued by the National Government, the bonds were offered at a minimum denomination of P500 with a fixed interest rate per annum of 3%. A Premyo Bond investment of P500 entitles the investor to one raffle ticket. In his video message during the Third Premyo Bonds Draw, Finance Secretary Carlos G. Dominguez urged the raffle winners to reinvest their money in government bonds to help support the nation’s fight against the COVID-19 pandemic. The Premyo Bonds were first offered to the public last year by the National Government through the BTr, with LANDBANK as one of the Joint Lead Issue Managers. Other Joint Issue Managers were private banks BDO Capital and Investment Corp., China Bank Capital Corp., and First Metro Investment Corp. The Issue Managers also served as Selling Agents. Aside from the grand winner, a total of 115 Premyo Bond investors also won cash prizes, including 100 3rd cash reward winners of P20,000 each, and 15 2nd cash reward tier winners of P100,000 each. The Fourth Quarter Rewards Draw for the Premyo Bonds will be held on December 18, 2020.LEARN MORE