Manila City Mayor Isko Moreno (3rd from left) and LANDBANK President and CEO Cecilia C. Borromeo (4th from left) present the signed Loan Agreement for P10 billion which will finance various development project in the City. Joining them are LANDBANK Executive Vice President for Branch Banking Sector Joselito P. Gutierrez (extreme right), LANDBANK Executive Vice President for Agricultural and Development Lending Liduvino S. Geron (2nd from right), Secretary to the Mayor Bernardito C. Ang (extreme left) and City Budget Officer Atty. Mary Grace Chua (2nd from left).
Complementing his vigorous campaign to clean-up the streets of Manila from garbage and eyesores, Manila Mayor Isko Moreno is also focusing on upgrading the city’s health, educational, tourism and public services facilities.
On November 11, 2019, the City Government of Manila signed a P10-billion Loan Agreement with Land Bank of the Philippines (LANDBANK) under the Bank’s Omnibus Term Loan Facility (OTLF).
The approved loan facility will be used to finance the following: (1) construction and renovation of the Ospital ng Maynila Medical Center, the Pamantasan ng Lungsod ng Maynila School of Medicine Building, the new City Hall building, and the Manila Sky Deck; (2) the rehabilitation of Manila Zoo and the development of Pandacan Depot into a commercial district; and (3) the acquisition of equipment, furniture and fixture for these projects.
Present during the loan signing were LANDBANK President and CEO Cecilia C. Borromeo, Executive Vice President for Agricultural and Development Lending Liduvino S. Geron, who signed for the Bank, and Senior Vice President for Corporate Banking Ma. Celeste A. Burgos as witness. They were joined by Executive Vice President for Branch Banking Joselito P. Gutierrez and First Vice President for North NCR Branches Marilou L. Villafranca.
Also present were City Legal Officer Atty. Genaro Jose Emeterio S. Moreno, Jr., OIC of the Treasury Department Ma. Jazmin A. Talegon, City Accountant Maria Lourdes R. Manlulu, Secretary to the City Mayor Bernardito C. Ang, and City Budget Officer Atty. Mary Grace Chua.
“Over the years, LANDBANK has worked closely with local government units nationwide and has remained the biggest provider of financial assistance and development financing to the sector because we believe that local government is the biggest, if not the most integral, link between the national government and their respective localities,” said President Borromeo.
The Bank’s OTLF allows qualified provinces, municipalities, and cities to avail of loans for projects that are listed in their Approved Local Development Plan or Annual Investment Program. This eliminates the inconvenience and associated transaction cost in having to secure loan approval for every single project to be implemented.
LANDBANK resumes operations in Cebu and Masbate; bolsters recovery support
LANDBANK has fully restored regular banking operations in Cebu and Masbate following the recent earthquake and Typhoon Opong, reaffirming its commitment to uninterrupted financial access for affected communities. All LANDBANK branches in both provinces are now operational, with the exception of the Aroroy, Masbate branch-lite unit, which remains temporarily closed due to a power outage. Clients are advised to use nearby branches, ATMs, or the Bank’s digital platforms for their immediate banking needs. Despite the calamities’ impact on its operations and personnel, LANDBANK continues to expand support to affected communities, mobilizing ₱4.9 million in monetary aid to affected areas. This includes ₱2 million for Cebu Province, ₱1.5 million for Bogo City, and ₱500,000 for Masbate Province, ₱200,000 for Masbate City, and ₱100,000 each for the municipalities of Uson, Dimasalang, Cawayan, Cataingan, Mandaon, Milagros and Palanas. On October 2, LANDBANK employees distributed 2,000 food relief packs to evacuees in Daanbantayan, Bogo City, Medellin, and San Remigio, Cebu. The relief operations were made possible through the voluntary efforts and cash contributions of LANDBANK employees, reflecting the Bank’s collective spirit of compassion and solidarity with affected communities. The Bank is also partnering with humanitarian group Waves for Water (W4) to deploy portable water filtration systems in the hardest-hit areas. “LANDBANK stands ready to deliver both immediate and sustained financial lifelines to our fellow Filipinos in Cebu and Masbate. Our emergency support programs ensure that all affected sectors — from farmers and fishers to MSMEs and wage earners — have the resources to recover and bounce back stronger,” said LANDBANK President and CEO Lynette V. Ortiz. Beyond immediate relief, LANDBANK is rolling out financial programs to support long-term recovery. These include: • CARES Plus Lending Program: Financing for MSMEs, cooperatives, and utilities for working capital, repairs, and disaster recovery. • Electronic Salary Loan (eSL): Quick access to credit for LANDBANK payroll account holders via digital platforms. • EasyCash for Emergencies: Emergency cash conversion for LANDBANK credit cardholders with flexible repayment terms. • Pension and Emergency Relief (PeER) Loan: Credit assistance for pensioners with LANDBANK Pension Accounts and government employees with LANDBANK Payroll Accounts, offering loan amounts ranging from ₱20,000 to ₱300,000. • Emergency Loans: Immediate financial assistance for government employees with LANDBANK Payroll Accounts and pensioners with LANDBANK Pension Accounts, up to P25,000. Borrowers with existing Salary or PeER Loans in good standing are also eligible. Clients may access LANDBANK services through open branches, over 2,900 ATMs nationwide, or online via the LANDBANK Mobile Banking App (MBA) and Link.BizPortal. For more information on the Bank’s emergency support programs, visit the nearest LANDBANK branch or contact the Customer Care Hotline at (02) 8405-7000.
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LANDBANK: All transactions complied with law, above board, and in accordance with mandated procedures
English Version: LANDBANK strongly refutes any insinuations that its handling of government contractor accounts, particularly those related to the Department of Public Works and Highways' (DPWH) flood control projects, involved any irregular or unlawful activity. The Bank affirms that all transactions in question were carried out strictly within the bounds of Philippine banking laws and regulations, under full compliance with government mandates and oversight requirements. The funds deposited in the account of DPWH contractors originated from the Department of Budget and Management (DBM), released pursuant to the General Appropriations Act (GAA) as passed by Congress, and disbursed by the DPWH. These funds are legitimate government allocations, not private or unverified sources. LANDBANK, or any other financial institution, has no legal authority to block or question duly appropriated government disbursements. To facilitate fulfillment of government contracts, all creditors/suppliers/payees (i.e. contractors), are enjoined to open and maintain deposit accounts with banks such as LANDBANK, pursuant to DBM Circular No. 2018-14 and Bureau of the Treasury (BTr) Circular No. 3-2018. The Bank has fully observed “Know Your Client” (KYC) protocols, risk management procedures, and documentation requirements for the opening of their LANDBANK accounts. As mandated by the Anti-Money Laundering Act (AMLA): • All cash withdrawals exceeding ₱500,000 are automatically reported to the Anti-Money Laundering Council (AMLC) through a Covered Transaction Report (CTR). • Any transaction deemed “suspicious” at the time of execution is immediately flagged to AMLC via a Suspicious Transaction Report (STR). In this case, the legitimacy of the source of funds—government releases through DPWH, the lawful purpose of the payments, and the KYC account opening documentation of the contractors—have all been properly established and recorded. There was, therefore, no basis under the law to withhold the release of funds. LANDBANK reiterates that its role is to faithfully execute banking transactions in accordance with law and regulatory standards, and not to assume investigatory functions outside its legal mandate. The Bank remains committed to the highest standards of integrity, regulatory compliance, and public trust. At the same time, it stands ready to fully cooperate with the proper authorities and investigating bodies to help establish the truth and serve the ends of justice. LANDBANK also affirms that this matter does not diminish its ongoing work of carrying out its mandate—empowering the agricultural sector, supporting farmers and fishers, and advancing the goals of the farming community, which remain at the heart of LANDBANK’s mission of nation-building. Filipino Version: LANDBANK: Lahat ng transaksyon ay malinaw, legal, at naaayon sa tamang proseso Mariing pinabubulaanan ng LANDBANK ang anumang paratang hinggil sa tiwaling paghawak umano nito ng accounts ng mga kontratista ng gobyerno, kasama na ang para sa mga flood control project ng Department of Public Works and Highways (DPWH). Ang lahat ng transaksyon na isinagawa ng LANDBANK ay naaayon sa batas at regulasyon ng pagbabangko sa Pilipinas, at mahigpit na sumusunod sa mga alituntunin at mandato ng pamahalaan. Nilinaw nito na ang pondong idineposito sa account ng mga kontratista ay galing sa Department of Budget and Management (DBM), na nakapaloob sa General Appropriations Act (GAA), na ipinasa ng Kongreso, at ibinayad ng DPWH. Ito ay malinaw na pondong galing sa gobyerno. Kaya’t wala ring kapangyarihan ang LANDBANK, o anumang bangko, upang pigilan o kuwestiyunin ang mga pondong naitalaga na ng gobyerno. Upang maisagawa ang mga proyekto ng pamahalaan, lahat ng kontratista nito ay obligadong magbukas at magpanatili ng account sa mga bangko, tulad ng LANDBANK, alinsunod sa DBM Circular No. 2018-14 at Bureau of the Treasury (BTr) Circular No. 3-2018. Siniguro ng LANDBANK na nasunod ang lahat ng “Know Your Client” (KYC) requirements at iba pang dokumentong kailangan bago mabuksan ang mga account na ito. Ayon sa mandato ng Anti-Money Laundering Act (AMLA): • Kung ang cash withdrawal ay higit ₱500,000, awtomatiko itong nirereport sa Anti-Money Laundering Council (AMLC). • Kapag may kahina-hinalang transaksyon, agad din itong iniuulat sa AMLC. Sa sitwasyong ito, malinaw na ang pondo ay galing sa gobyerno — may tamang gamit, at maayos na mga dokumentong isinumite ng DPWH. Sa makatuwid, walang batayan sa ilalim ng batas para pigilan ang paglabas ng pondo. Muli, nililinaw ng LANDBANK na ang tungkulin nito ay tiyaking tama ang pagproseso ng mga transaksyon nang naaayon sa batas, at labas sa mandato nito ang pag-iimbestiga. Ang LANDBANK ay patuloy na naninindigan sa integridad ng operasyon nito, pagsunod sa mga batas at alituntunin, at pangangalaga sa tiwala ng publiko. Handa rin itong makipagtulungan sa mga awtoridad upang makatulong sa pagpapalabas ng katotohanan at paghahatid ng katarungan para sa taumbayan. Sinisiguro rin ng LANDBANK na hindi malilihis ng isyung ito ang misyon nitong patuloy na paunlarin at bigyang sigla ang sektor ng agrikultura, suportahan ang mga magsasaka at mangingisda, at isulong ang kanilang kapakanan bilang mahalagang bahagi ng ating lipunan.
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LANDBANK backs bulk of ₱100-B PSALM power loan
PSALM President and CEO Dennis Edward A. Dela Serna (3rd from left), LANDBANK President and CEO Lynette V. Ortiz (2nd from left), and DBP President and CEO Michael O. de Jesus (rightmost) lead the ceremonial signing for the ₱100-billion syndicated loan for PSALM, witnessed by Government Corporate Counsel Judge Solomon M. Hermosura (leftmost). QUEZON CITY — In support of the National Government's fiscal sustainability and energy sector reform efforts, LANDBANK is extending majority of a ₱100-billion Syndicated Term Loan Facility to the Power Sector Assets and Liabilities Management Corporation (PSALM). LANDBANK as one of the Joint Lead Arrangers and Lenders, committed ₱60 billion or 60% of the total syndicated term loan facility. The proceeds of the facility will be used to augment PSALM’s working capital requirements, refinance existing liabilities, and settle domestic contractual obligations. PSALM President and CEO Dennis Edward A. Dela Serna, LANDBANK President and CEO Lynette V. Ortiz, and DBP President and CEO Michael O. de Jesus signed the syndicated loan facility agreement on 17 July 2025. The signing was witnessed by Government Corporate Counsel Judge Solomon M. Hermosura. "We are honored to be part of this important milestone, alongside our partners in government and development finance. This transaction reflects our collective resolve to strengthening the Philippine power sector — an industry that is fundamental to shaping the future of our economy and uplifting the lives of every Filipino,” said LANDBANK President and CEO Ortiz. LANDBANK and DBP acted as the Joint Lead Arrangers for the syndicated deal, with LANDBANK – Trust Banking Group as the Facility and Paying Agent, and the Officer of the Government Corporate Counsel (OGCC) as the Transaction Counsel. The loan will support PSALM fulfill its mandate under the Electric Power Industry Reform Act (EPIRA), which includes the management, privatization, and optimal liquidation of the remaining assets and financial obligations of the National Power Corporation. LANDBANK has been a steadfast partner of PSALM since 2008, consistently providing essential financing in support of its programs. The Bank also remains a key player in advancing the country’s energy agenda, financing major players in the industry including large oil companies, power producers, and distribution utilities, as part of its role as reliable enable of national development. ABOUT LANDBANK LANDBANK is the largest development financial institution in the country promoting financial inclusion, digital transformation, and sustainable national development. Present in all 82 provinces in the county, the Bank is committed to provide accessible and responsive financial solutions to empower Filipinos from countryside to countrywide.
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