LANDBANK and Converge sign a P3-billion loan agreement to provide fast and reliable internet connectivity to more subscribers nationwide. The virtual signing ceremony on August 27, 2021, was led by (upper row from left) Converge CEO Dennis Anthony H. Uy, Converge President Maria Grace Y. Uy, and LANDBANK President and CEO Cecilia C. Borromeo. They were joined by (lower row from left) Converge Deputy Chief Finance Officer Christine Renee R. Blabagno and LANDBANK officials, namely Agricultural and Development Lending Sector, Officer-in-Charge Senior Vice President Filipina B. Monje and Corporate Banking Group Head, Senior Vice President Ma. Celeste A. Burgos.
State-run Land Bank of the Philippines (LANDBANK) signed a P3-billion loan agreement with Converge Information and Communications Technology Solutions, Inc. (Converge) to help provide fast and reliable internet service to more subscribers nationwide.
LANDBANK President and CEO Cecilia C. Borromeo alongside Converge CEO Dennis Anthony H. Uy and President Maria Grace Y. Uy led the virtual loan signing ceremony to support the fiber broadband service provider’s continuing terrestrial and subsea domestic network expansion and finance working capital requirements.
They were joined by Converge Deputy Chief Finance Officer Christine Renee R. Blabagno and LANDBANK officials, namely Agricultural and Development Lending Sector Officer-in-Charge, Senior Vice President Filipina B. Monje and Corporate Banking Group Head, Senior Vice President Ma. Celeste A. Burgos. Also present during the signing ceremony was Converge Chief Financial Office Advisor Matthias Vukovich.
During the virtual ceremony, LANDBANK emphasized the importance of investing in technology as more Filipinos adapt to a digital lifestyle due to the ongoing pandemic.
“We are hopeful on this new partnership between LANDBANK and Converge to ensure the delivery of fast and consistent internet services across the country. It is with urgency that we must support more users in adapting to home set-ups for work and education in the new normal. This is also aligned with LANDBANK’s thrust of leveraging on digital innovations to provide uninterrupted, safe, and timely financial solutions to our clients, especially the unbanked and underserved,” said LANDBANK President and CEO Borromeo.
Converge CEO Uy expressed his gratitude to LANDBANK for providing an accessible financial channel to expand their fiber footprint nationwide.
“This loan financing brings us one step closer to our goal of connecting the unserved and underserved areas in the country. The available funds will help us reach into untapped markets and really ‘Go Deep’ into existing ones,” said CEO Uy during the virtual loan signing.
The total loan package from LANDBANK will also include an additional short term loan line as well as a facility for its trade transactions amounting to up to P2 billion.
In line with servicing the emerging needs of its clients in the new normal, LANDBANK successfully facilitated 73.5 million transactions amounting to P1.307 trillion through its five major e-banking channels from January to July 2021. This represented comparative year-on-year increases of 12% and 65%, respectively.
As of July 2021, the Bank has also facilitated the opening of more than 1.7 million online accounts through its Digital On-boarding System or DOBS which digitizes the submission of account applications.
LANDBANK also launched recently the DOBS Mobile which facilitates online savings account opening in as fast as 10 to 15 minutes. The LANDBANK DOBS Mobile eliminates the need to line up in branches to open an account, in support of the National Government’s Ease of Doing Business (EODB) initiative, as well as safety protocols imposed to limit COVID-19 infections.
LANDBANK also continues to waive fees for inter-bank fund transfers via InstaPay and PESONet for retail clients until September 30, 2021.
LANDBANK expands operations in Davao de Oro, opens new branch
(left photo) LANDBANK President and CEO Lynette V. Ortiz (6th from right) and Davao de Oro First District Representative Congresswoman Maria Carmen S. Zamora (8th from right) lead the ribbon cutting at the inauguration of the LANDBANK Monkayo Branch in Davao de Oro on 09 November 2023. Joining them are LANDBANK Director Atty. David D. Erro (4th from right), Monkayo Councilor Manuel N. Zamora, Jr. (10th from right), together with other LANDBANK senior executives and local government officials. MONKAYO, Davao de Oro – The Land Bank of the Philippines (LANDBANK) continues to advance financial inclusion in the country with the opening of its newest branch in the first-class town of Monkayo in the province of Davao de Oro. Located in Barangay Poblacion, the LANDBANK Monkayo Branch makes banking services more convenient to clients from the 73 combined barangays of Monkayo and the neighboring towns of Compostela, Montevista and New Bataan. This is the second LANDBANK branch in Davao de Oro, replacing the previous LANDBANK Easy Access Facility (LEAF) in the municipality, to provide improved and expanded banking services to the Province. LANDBANK President and CEO Lynette V. Ortiz and Davao de Oro First District Representative Congresswoman Maria Carmen S. Zamora led the inauguration rites for the LANDBANK Monkayo Branch on 09 November 2023. They were joined by LANDBANK Director Atty. David D. Erro, Monkayo Councilor Manuel N. Zamora, Jr., and other LANDBANK senior executives and local government officials. “To keep in stride with local developments—not to mention Monkayo being the most populous town in the Province—we deemed it fitting to upgrade the previous LEAF into a full-fledged branch. We are now able to offer a wider range of services, as we complement the local government's vision of establishing a one-stop shop for basic public services,” said LANDBANK President Ortiz. For her part, Congresswoman Zamora thanked LANDBANK for its unwavering service to the nation and the Filipino people. “Without LANDBANK, government could not reach far-flung areas and could not reach ordinary Filipinos who need services,” she said. The newly inaugurated branch is equipped with an automated teller machine (ATM) and cash deposit machine (CDM) to facilitate fast, safe, and timely cash withdrawals and deposits of residents from the covered areas. LANDBANK clients who will benefit from the new touchpoint include over 53,000 Conditional and Unconditional Cash Transfer (CCT/UCT) program beneficiaries of the Department of Social Welfare and Development (DSWD), 7,000 farmers and fishers, as well as government employees, teachers, and students, among others. The LANDBANK Monkayo Branch likewise features a Digital Corner where customers can open a deposit account in as fast as 15 minutes or less using the Bank’s Digital Onboarding System (DOBS). Opening an account via DOBS provides automatic enrollment to LANDBANK’s digital banking channels for safe and convenient online transactions. LANDBANK is the only bank present in all 82 provinces in the country, with a network of 606 branches and branch-lite units and 59 lending centers, 16 of which are in Mindanao. LANDBANK’s continued expansion across the country underscores its commitment to bringing banking services closer to its mandated and priority sectors, especially in unbanked and underserved areas.LEARN MORE
Batanes LGU, LANDBANK ink partnership for convenient online payments
Batanes Governor Marilou H. Cayco (2nd from left) and LANDBANK Basco Branch Head Joseph Caliguiran (3rd from left) lead the MOA signing for the use of the LANDBANK Link.BizPortal facility on 12 October 2023. Joining them are Acting Provincial Treasurer Cristina Caccam (leftmost) and LANDBANK Acting Branch Service Officer Aniceto Ferdinand Mariano (rightmost). BASCO, Batanes – The Provincial Government of Batanes and the Land Bank of the Philippines (LANDBANK) have partnered for the use of the Bank’s Link.BizPortal channel to facilitate online payments for the local government unit (LGU). The LANDBANK Link.BizPortal allows residents to conveniently settle local fees, dues, and charges online at their convenience with just a few clicks on their computers or mobile devices. “LANDBANK will continue to support the digital journey of Batanes with innovative products and services. We look forward to more fruitful collaborations in advancing responsive public service delivery,” said LANDBANK President and CEO Lynette V. Ortiz. Batanes Governor Marilou H. Cayco and LANDBANK Basco Branch Head Joseph Caliguiran led the signing of the Memorandum of Agreement for the partnership at the Provincial Governor’s Office on 12 October 2023. Governor Cayco thanked LANDBANK for its continued assistance and promoted the utilization of the Link.BizPortal among Ivatans. “Dahil dito, mas mapapadali at mapapagaan ang pagbabayad ng ating mga customers. Maraming salamat sa buong LANDBANK lalo na kay Manager Caliguiran sa walang humpay na tulong sa Kapitolyo at sa buong Batanes,” Governor Cayco said. The Provincial Government of Batanes has been the top depositor of the LANDBANK Basco Branch since 1992 and remains among its valued clients. It is also the first LGU in Batanes to avail of the Bank’s various digital banking products, including ATM payroll servicing and weAccess, among others.LEARN MORE
P4.3-B LANDBANK loan to back Pangasinan’s infra, health dev’t
Pangasinan Governor Ramon V. Guico III (3rd from left) and LANDBANK President and CEO Lynette V. Ortiz (4th from left) lead the signing of a P4.3 billion sub-loan agreement to finance the Pangasinan LGU’s various development projects on 25 October 2023 at the LANDBANK Plaza in Malate, Manila. They are joined by Vice Governor Mark Ronald DG. Lambino (2nd from left), Provincial Administrator Melicio F. Patague II (leftmost), and LANDBANK Senior Vice Presidents Ma. Celeste A. Burgos (5th from left) and Filipina B. Monje (rightmost). MALATE, Manila – The Land Bank of the Philippines (LANDBANK) greenlighted a P4.3 billion loan to the Provincial Government of Pangasinan, geared towards the improved delivery of public, health and tourism services in the Province. The loan is part of the P6 billion omnibus term loan agreement signed by the LGU and the state-run Bank earlier this year to fund the priority development projects in Pangasinan. The signing of the agreement was led by Pangasinan Governor Ramon V. Guico III and LANDBANK President and CEO Lynette V. Ortiz on 25 October 2023 at LANDBANK Plaza in Malate, Manila. They were joined by Vice Governor Mark Ronald DG. Lambino, Provincial Administrator Melicio F. Patague II, Acting Provincial Treasurer Cristy C. Ubando, Provincial Legal Officer Atty. Baby Ruth F. Torre and Provincial Accountant Atty. Marlon C. Operaña, along with LANDBANK Senior Vice Presidents Ma. Celeste A. Burgos and Filipina B. Monje. “LANDBANK remains committed to supporting Pangasinan’s transformative journey towards a more inclusive and sustainable local economy through our wide array of support services. We look to expedite progress within the Province for the improved delivery of basic and medical services, increased socio-economic activities, and a more robust local tourism sector,” said President Ortiz. Of the P4.3 billion loan, P1.8 billion is earmarked for the construction of an 11-storey government center in the Municipality of Lingayen, designed to house the offices of the Provincial Government and national government agencies. Another P500 million is allocated for the development of the Provincial Capitol Complex. To provide better health care for Pangasinenses, P758 million will be used for the purchase of advanced hospital equipment, including computed tomography (CT) scanners, x-ray, magnetic resonance imaging (MRI), and ultrasound machines for the Pangasinan Provincial Hospital, six (6) district hospitals and seven (7) community hospitals in the Province. Meanwhile, P700 million is set to fund the acquisition of land and construction of support facilities for the Bolinao airport in Bolinao, Pangasinan. The remaining P500 million will help establish a corporate center for businesses and other commercial spaces to help stimulate local economic activity. “We’re rolling out and implementing impactful projects that will boost the economy and improve the lives of our people. We are thankful for our partners like LANDBANK, who are ready to support us as we invest in the future of Pangasinan,” said Governor Guico III. LANDBANK remains a major development partner of the local government sector, supporting the financing requirements for inclusive local development in line with its broader thrust of serving the nation.LEARN MORE