An artist’s perspective of the three-storey municipal hall of the Municipality of Nunungan in Lanao del Norte, expected to be completed next year through a P40-million term loan from the Land Bank of the Philippines (LANDBANK). (inset) Nunungan Mayor Marcos M. Mamay (3rd from left) and Treasurer Leonides B. Seronio (2nd from left) sign a loan agreement with LANDBANK Lanao Lending Center Head Nena P. Mendoza (1st from left) and Account Officer Virginia C. Gallego (4th from left) to finance the construction of the new municipal hall.
NUNUNGAN, Lanao del Norte – Nestled in the hinterlands of Lanao del Norte, this third-class municipality is now getting more attention as an eco-tourism sanctuary and an investment haven down south. With the recent completion of the town’s national road concreting project—seamlessly connecting its 25 barangays—the journey of Nunungan towards a more progressive community is well underway.
As part of its vision to better serve its constituents and accommodate its growing visitors, tourists and investors, the Municipal Government of Nunungan aspires to have a modern, spacious and well-structured municipal hall. And backed by Land Bank of the Philippines (LANDBANK), the construction of the building becomes possible, and will likely be completed by next year.
This developed after the local government signed a P40-million term loan agreement with LANDBANK last September 9, 2020 for the construction of a three-storey municipal hall in Sitio Bobong, Barangay Katubuan. The loan signing was led by Nunungan Mayor Marcos M. Mamay and Treasurer Leonides B. Seronio, together with LANDBANK Lanao Lending Center Head Nena P. Mendoza and Account Officer Virginia C. Gallego.
“Ito ang pinakamatagal na naming plano, na magkaroon kami ng modern municipal hall. Knowing na competitive na ang Nunungan dahil sa mga tourist attractions, pinagsisikapan talaga namin na magkaroon ng bagong municipal hall. Madaming dumadayo dito pero wala tayong maayos na municipal hall for accommodating them and their needs,” said Mayor Mamay.
Once completed, the new municipal hall will be a significant part of the municipality’s vision of creating a government center with a grandstand, health center, fire station, and outdoor courts, among others, which Mayor Mamay envisions as another landmark site in the town, and will bring greater convenience to local residents who need to transact with various government offices.
The new hall will likewise serve as a facility to accommodate the existing and potential investors of the municipality. These investors are also expected to benefit from the unified services of the local government, especially in processing business permits.
Prior to the P40-million loan, the local government also borrowed a total of P75.2 million from LANDBANK in 2015 which was used to acquire heavy equipment that includes a six-wheeler dump truck, 10-wheeler dump truck, prime mover, low bed trailer, motor grader, vibratory compactor, and bulldozer. These are being utilized for the construction of new roads across the town, and the periodic maintenance of existing roads to ensure easy access to farms and timely transport of goods to the market.
“We at LANDBANK commit ourselves to improving the lives of all Filipinos by providing the needed financial support of LGUs in rolling out development projects in their localities. We always look at our LGUs as valuable allies in promoting development that is inclusive and sustainable,” said LANDBANK President and CEO Cecilia C. Borromeo.
Aside from delivering intensified support to the agriculture sector, LANDBANK has been supporting local government units (LGUs) across the country to accelerate local growth.
As of October 31, 2020, LANDBANK has extended loans to LGUs amounting to P51.59 billion, with P17.18 billion of this representing loans to finance agri-aqua projects, including farm-to-market roads, slaughterhouses, and irrigation systems.
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: All transactions complied with law, above board, and in accordance with mandated procedures
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.
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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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LANDBANK backs PNP retirees in streamlining pensions
Streamlining PNP Pensions: PNP Chief of Police General Nicolas Torre III (5th from left) and LANDBANK President and CEO Lynette V. Ortiz (4th from left) lead the signing of the Memorandum of Agreement (MOA) to streamline the disbursement of pension and other retirement benefits for retired police personnel, held on 14 August 2025 at the PNP National Headquarters in Quezon City. Joining them from LANDBANK are Executive Vice President Liduvino S. Geron (3rd from left), Senior Vice President Marilou L. Villafranca (2nd from left), First Vice President Atty. Nikkolas B. Tolentino (6th from left), Vice President Hansen W. Chu (rightmost), and Assistant Vice President Marissa A. Garduque (leftmost). QUEZON CITY – Committed to delivering accessible and efficient banking services, LANDBANK has been tapped anew by the Philippine National Police (PNP) to simplify pension processing for retiring police personnel. Under this collaboration, active PNP personnel can now continue using their existing LANDBANK payroll accounts as their pension accounts upon retirement. This eliminates the need to open a separate account, saving time, reducing paperwork, and ensuring uninterrupted receipt of benefits for about 250 new PNP pensioners each month. “As the PNP’s depository bank, LANDBANK is honored to be your steadfast partner in making your financial operations more seamless and efficient. We provide a full range of traditional and digital banking solutions to support your needs, while serving the salaries and benefits of over 230,800 uniformed and non-uniformed personnel, and around 80,000 pensioners nationwide,” said LANDBANK President and CEO Lynette V. Ortiz. The signing of the amended and restated Memorandum of Agreement (MOA) was led by PNP Chief of Police General Nicolas Torre III and LANDBANK President and CEO Ortiz. Present as witnesses were Police Brigadier General Jonas Amparo and Police Brigadier General Marlou Roy Alzate, alongside LANDBANK Executive Vice President Liduvino S. Geron, Senior Vice President Marilou L. Villafranca, and Vice President Hansen W. Chu on 14 August 2025 at the PNP National Headquarters. In line with the National Government’s digitalization drive, LANDBANK is likewise encouraging the PNP to expand the use of the Bank’s Link.BizPortal for fee collections. As of June 2025, the Link.BizPortal has processed 2.9 million PNP transactions, with more than 2.85 million for police clearances. As PNP’s longstanding partner, LANDBANK continues to provide payroll servicing, fund transfers, bills payment, and investment facilities, as well as other digital and traditional banking services, to help the agency perform its mandate of maintaining peace and order and ensuring public safety. 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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