In line with providing safe, convenient, and accessible digital banking services, the Land Bank of the Philippines (LANDBANK) continues to waive fees for fund transfers to other banks via InstaPay and PESONet for transactions worth P1,000 and below.
LANDBANK customers can enjoy free online fund transfers for the first three transactions facilitated in a day through the LANDBANK Mobile Banking App (MBA), and the Bank’s online retail banking channel, the iAccess.
For interbank fund transfers amounting to more than P1,000, a lowered fixed transaction fee of P15 from the previous rate of P25 will be applied. Meanwhile, fund transfers between LANDBANK and Overseas Filipino Bank (OFBank) accounts, regardless of the amount, remain free-of-charge.
“We are extending our waiving of fees for small-value online fund transfers to encourage more clients to embrace cashless transactions, in support of the National Government’s thrust of building a cash-lite economy. Beyond the convenience of free fund transfers, customers can also use LANDBANK’s digital platforms for bills payment, cardless withdrawal, and opening of additional deposit account,” said LANDBANK President and CEO Lynette V. Ortiz.
For seamless and convenient online fund transfers and bills payment, the LANDBANK MBA can be downloaded for free on Google Play, Apple App Store, and Huawei App Gallery. LANDBANK customers can easily enroll their account in the MBA to conduct online financial transactions, by providing their deposit account details.
ABOUT LANDBANK
LANDBANK is the largest development financial institution in the country promoting financial inclusion, digital transformation and sustainable development to benefit Filipinos. It is committed to provide responsive and meaningful services beyond banking, and leverage on innovative technology for safe, convenient, and accessible digital banking solutions.
On the back of record earnings: LANDBANK tops remittance to National Gov’t with P32.119-B in dividends
The Land Bank of the Philippines (LANDBANK) has remitted P32.119 billion in cash dividends to the National Government—the highest in the state-run Bank’s history—to support the country’s infrastructure projects and socio-economic programs. The record-setting contribution, the highest amount remitted among all Government Owned and Controlled Corporations (GOCCs), highlights LANDBANK’s robust financial position after posting an all-time high net income of P40.3 billion in 2023 and year-end capital of P266.8 billion. LANDBANK officially remitted the P32.119 billion cash dividends to the National Treasury on 30 April 2024, which was recognized during the GOCCs’ Day ceremonial dividends turnover event on 06 May 2024 at the Philippine International Convention Center (PICC) in Pasay City, led by President Ferdinand R. Marcos Jr. together with Finance Secretary and LANDBANK Chairman Ralph G. Recto, and other officials. “The solid performance of LANDBANK in 2023 yielded a record-breaking dividend contribution, which will significantly support our people’s growing needs and further stimulate the country's economic growth. This unprecedented amount demonstrates the fiscal discipline that we have instilled in LANDBANK. Credit must be given to LANDBANK’s management team led by PCEO Lynette Ortiz and staff for their hard work and commitment to the nation,” said Finance Secretary and LANDBANK Chairman Recto. “LANDBANK’s unprecedented contribution to the government’s coffers underscores our unwavering commitment to nation-building. We look forward to further advancing the country’s growth trajectory by providing ample funding for priority infrastructure projects and socioeconomic programs,” said LANDBANK President and CEO Lynette V. Ortiz. President and CEO Ortiz added that the Bank will remain aggressive in serving the growth requirements of the agriculture sector and other key industries, to complement the National Government’s inclusive and sustainable development agenda. Strong profit growth in Q1 2024 LANDBANK has started the year strong after earning P12 billion in the first three months on the back of increased interest income from loans. The state-run Bank’s net income for the first quarter jumped 11% from P10.8 billion year-on-year, exceeding its P11.3 billion target for the period by 6%. LANDBANK’s total assets expanded by 5% to P3.3 trillion, driven by robust expansion in loans. The Bank’s deposit base likewise improved by 4% to P2.9 trillion due to increases in government and private deposits. The Bank’s gross loan portfolio reached P1.5 trillion, marking a 25% increase due to the growth in treasury and commercial loans, primarily channeled towards agribusiness, energy, affordable mass housing, and infrastructure projects. Earlier, the Bank garnered the highest rating for corporate governance among all GOCCs in 2022, with a scorecard of 102.5 from the Governance Commission of GOCCs (GCG), showcasing LANDBANK’s strong corporate governance culture anchored on integrity, transparency, and accountability. ABOUT LANDBANK LANDBANK is the largest development financial institution in the country promoting financial inclusion, digital transformation and sustainable development to benefit Filipinos. The Bank is present in all 82 provinces in the county, committed to providing accessible and affordable financial support to key players and industries as part of its broader thrust of serving the nation.
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Advancing a circular economy: Poultry farm boosts Romblon’s egg supply with LANDBANK support
With support from LANDBANK, brothers Alex and Raymond Abelido were able to establish Tierra del Sur Farms, Inc., in San Agustin, Romblon, which is currently the largest commercial poultry farm in the province supplying around 54,000 fresh farm white eggs daily. SAN AGUSTIN, Romblon – With its local small-scale poultry farms having limited egg production capacity, this Province mainly relies on imported chicken eggs to fully sustain the daily requirements of consumers, restaurants and other local businesses. Bulk of Romblon’s egg supply are shipped from other areas in the country, making its supply vulnerable to transportation disruptions caused by adverse weather conditions and other unexpected delays. These constraints were in full display during the previous imposition of lockdown measures and travel restrictions at the height of the COVID-19 pandemic. Local businessmen and brothers Alex and Raymond Abelido saw this demand-supply gap as an opportunity to establish Tierra del Sur Farms, Inc., a commercial poultry farm to help strengthen local egg production and cut down egg imports. “Growing Romblon’s poultry production is part of our vision to build a more sustainable food system in Romblon. This is our contribution towards ensuring food security in the province,” said Tierra del Sur Farms President and CEO Alex Abelido. Branching out from their existing construction business, the Abelido brothers faced the challenge of venturing into agriculture and building the largest poultry farm in the province to-date. In 2023, the Land Bank of the Philippines (LANDBANK) extended credit assistance amounting to P160 million to re-finance the construction of facilities in their 17-hectare farm in Romblon. The LANDBANK loan helped put up necessary facilities such as four poultry buildings, as well as feeds and tools warehouses, workers' quarters and an organic fertilizer plant. Part of the loan also supported the acquisition of ready-to-lay chickens and covered the purchase of chicken feeds, among other operational expenses. Not long after having 25,000 laying hens at the beginning of their operations, Tierra del Sur Farms, Inc. now has around 60,000 laying hens in their Romblon farm producing about 54,000 eggs daily. These eggs are distributed to the different island municipalities of the province, including Tablas Island. Locals are now able to buy eggs at a much cheaper price, with each piece sold at a farm gate price of P7.00 compared to imports that cost around P10.00 per piece. Having locally produced eggs likewise ensures quality and availability in the province, as compared to imported eggs which could take days to reach the province. Tierra del Sur Farms, Inc. is able to produce over 250,000 eggs daily, distributed in the islands of Romblon and other parts of the country, including Batangas, Rizal, and Manila. With the success of their Romblon poultry farm, Tierra del Sur Farms, Inc. likewise sought the assistance of LANDBANK in expanding their operations to Calatagan, Batangas. They availed a P430-million loan to finance the construction of poultry buildings and support facilities such as an organic fertilizer plant, sewage treatment plant, and warehouses. The Batangas poultry farm houses around 250,000 laying hens in seven fully automated and mechanized poultry buildings. It produces about 200,000 eggs daily, shipped to various trade partners in Batangas, Rizal, and Manila. “We would like to thank LANDBANK for its support as we achieve our goals of empowering local communities and ensuring food security. We look forward to their continued support as we plan to expand the reach of our operations even further to neighboring provinces,” said Raymond Abelido, Tierra del Sur Farms, Inc. Corporate Treasurer and manager. As of end-March 2024, LANDBANK’s outstanding loans to the poultry sector has reached P15.5 billion to finance the production of chicken and duck eggs, breeding of poultry, and sale of poultry meat and products, among other projects. Building a sustainable circular economy As part of Tierra del Sur Farms, Inc.’s advocacy to operate with minimal ecological footprint, the farm prides itself on employing sustainable methods for waste management to reduce environmental impact and protect natural resources. Through a sewage treatment plant also financed by LANDBANK, the farm recycles wastewater as drinking water for their chickens, thereby reducing costs and preventing water pollution. LANDBANK’s assistance likewise enabled the farm to construct an organic fertilizer plant to produce their own fertilizer from chicken manure. These fertilizers are sold to local farmers to help improve soil quality and agricultural production. Tierra del Sur Farms, Inc. was also recently recognized for the good quality of their fertilizer and tapped by the Philippine Coconut Authority (PCA) through a joint venture to supply organic fertilizer to coconut farmers nationwide. Their new collaboration aims to boost coconut production while promoting proper poultry waste management, as the Abelido brothers work towards making their business more sustainable and self-sustaining. ABOUT LANDBANK LANDBANK currently operates a total of two Branches in the Province of Romblon, complemented by seven ATMs and one cash deposit machine, to facilitate accessible, convenient, and secure banking services. LANDBANK is the largest development financial institution in the country promoting financial inclusion, digital transformation and sustainable development to benefit Filipinos. The Bank is present in all 82 provinces in the country, committed to provide accessible and responsive financing to drive the agriculture sector’s productivity and competitiveness, while championing sustainable development in the countryside.
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LANDBANK backs co-op to expand services for uniformed personnel
LANDBANK President and CEO Lynette V. Ortiz (3rd from right) and ACDI Multipurpose Cooperative Chairman MGen Gilbert S. Llanto AFP (Ret) (4th from right) lead the signing of a loan agreement on 08 April 2024 at the LANDBANK Plaza in Manila to boost the co-op’s working capital. The Land Bank of the Philippines (LANDBANK) has extended financial support to the ACDI Multipurpose Cooperative (MPC) to boost the co-op’s working capital catering to uniformed personnel. The state-run Bank has granted ACDI MPC rediscounting lines to provide affordable credit for its over 269,000 members, including active and retired members of the Armed Forces of the Philippines (AFP), and other uniformed personnel. The ACDI MPC is the largest cooperative in the country in terms of assets. The LANDBANK support will help the co-op offer more loan packages at friendly rates to help members buy their dream home and vehicle, establish a business, or send their kids to school. “Since 1996, we are proud to have supported ACDI MPC’s growth and expansion into one of the largest cooperatives in the country. We will remain committed to strengthening the co-op’s working capital to boost its lending activities for our uniformed personnel, and support expansion plans in their other business lines,” said LANDBANK President and CEO Lynette V. Ortiz. LANDBANK President and CEO Ortiz and ACDI MPC Chairman MGen Gilbert S. Llanto AFP (Ret) led the signing of the loan agreement on 08 April 2024 at the LANDBANK Plaza in Malate, Manila. They were joined by ACDI MPC President BGen Alfredo G. Ramirez AFP (Ret), Executive Vice Presidents Esperanza G. Cauyan and Juliet B. Saavedra, LANDBANK Executive Vice President Ma. Celeste A. Burgos and Senior Vice President Lucila E. Tesorero. “Today, the confidence that LANDBANK has put on us will reflect on the way our people will also operate. Being the leading financial institution of the government, I think it’s a good affirmation of how far ACDI has gone also,” said ACDI MPC Chairman Llanto. LANDBANK is also supporting the ACDI MPC’s digitalization journey for enhanced operations and services through the Bank’s suite of digital banking solutions. The co-op is currently utilizing the LANDBANK weAccess for select banking transactions and the e-Tax Payment System (eTPS) for paying taxes online. Last year, ACDI MPC received the prestigious LANDBANK Distinguished Initiators and Movers of National Development (DIAMOND) Award for Outstanding Non-Agri-based Cooperative during the Bank’s 60th anniversary client commemoration event on 08 August 2023. As of end-February 2024, LANDBANK’s outstanding loans to the cooperative sector have reached P73.8 billion for the benefit of nearly 1,400 agri and non-agri-based co-ops nationwide. ABOUT LANDBANK LANDBANK is the largest development financial institution in the country promoting financial inclusion, digital transformation and sustainable development to benefit Filipinos. It is committed to providing accessible and affordable financial support to key players and industries as part of its broader thrust of serving the nation.
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