LANDBANK Sagay Branch facilitates the account opening of unbanked Philippine Identification System (PhilSys) registrants at a registration center in Sagay City, Negros Occidental on June 2, 2021.
The Land Bank of the Philippines (LANDBANK) has ramped-up efforts to bring more unbanked Filipinos into the formal banking system, in support for the National Government’s financial inclusion agenda.
As of May 31, 2021, LANDBANK has onboarded a total of 3,794,882 unbanked National ID registrants for transaction accounts, of whom 1,071,177 have already received their LANDBANK Agent Banking Cards (ABCs).
The cards, which were provided free-of-charge and with no initial deposit requirement, form part of the Bank’s ongoing partnership with the Philippine Statistics Authority (PSA) to co-locate in the Philippine Identification System (PhilSys) rollouts nationwide and provide unbanked registrants with their own transaction accounts.
“As we commemorate Independence Day centered on unity, LANDBANK continues to take part in the National Government’s whole-of-nation approach towards reaching and serving more unbanked and underserved Filipinos, helping them to be financially independent. We are one with government partners in fast-tracking initiatives to bridge the financial inclusion gap in the country,” said LANDBANK President and CEO Cecilia C. Borromeo.
The LANDBANK ABCs are given to unbanked PhilSys registrants through LANDBANK account opening booths at designated co-location areas. As of end-May 2021, LANDBANK has co-located in more than 850 PhilSys registration centers in 32 pilot provinces nationwide.
Cardholders can use the LANDBANK ABCs to cash-in, cash-out, and transfer funds at any LANDBANK Branch or Agent Banking Partner. They can also withdraw cash at Mastercard-accepting ATMs, perform cashless transactions, shop online, and receive government subsidies digitally.
In the future, the LANDBANK ABCs may be used as contactless cards to pay fares in public transport modes under the Automatic Fare Collection System (AFCS) project of the Department of Transportation (DOTr).
With its various efforts to boost financial inclusion in the country, LANDBANK is doing its share in reducing inequality, in helping to free the unbanked from poverty, and in promoting inclusive growth. Financial inclusion provides the unbanked opportunities to save, invest, and avail of affordable credit, leading towards their financial independence.
By banking the unbanked, LANDBANK enables government cash grants and pensions to be credited directly into their accounts through cashless fund transfers.
Delivering social protection programs
Together with the Department of Social Welfare and Development (DSWD), LANDBANK has also distributed a total of 5.6 million LANDBANK Cash Cards to beneficiaries of social protection program nationwide as of May 31, 2021.
Of this total, 4.4 million LANDBANK Cash Cards were delivered to DSWD’s Conditional Cash Transfer (CCT) Program beneficiaries. The remaining 1.2 million cash cards were distributed to Unconditional Cash Transfer (UCT) Program beneficiaries, composed of 596,761 and 643,562 beneficiaries under the Social Pension Program for Indigent Senior Citizens and poor households in the DSWD’s Listahanan database, respectively.
Through the LANDBANK Cash Cards, beneficiaries receive their government subsidy in a timely, safe, and convenient manner. They can withdraw from LANDBANK’s ATMs, partner cash-out agents, as well as from the ATMs of BancNet-member banks nationwide. They can also use their cards for cashless transactions through point-of-sale (POS) machines.
Reaching unbanked and underserved municipalities
To reach more unbanked and underserved areas, LANDBANK is also expanding its Agent Banking Program by partnering with more cooperatives, rural banks, local government units, and micro, small and medium enterprises (MSMEs), among others, to help provide basic banking services.
From the Program’s full implementation in March 2020 up to May 31, 2021, LANDBANK has certified 111 Full-Suite Agent Banking Partners (ABPs) operating in 48 unbanked municipalities and 159 underserved municipalities or those without a LANDBANK branch. These ABPs facilitate POS cash-out and cash-in services, fund transfers, balance inquiries, bills payment, and account opening with electronic know-your-customer (eKYC) and issuance of LANDBANK ABCs.
LANDBANK has also partnered with a total of 645 POS cash-out only ABPs as of end-May 2021, utilizing 959 terminals deployed in 130 unbanked municipalities and 829 underserved municipalities or those without a LANDBANK branch. These POS devices allow cash-out transactions not only for LANDBANK-issued cards but also for other participating BancNet ATM cards.
From January to May 2021, a total of 1,665,112 cash-out transactions amounting to P8.19 billion were facilitated by LANDBANK’s ABPs. These represent increases of 4.5% and 11% year-on-year for volume of transactions and value, respectively.
Banking on technology
The state-run Bank also launched on May 12, 2021, the Digital On-Boarding System Mobile or DOBS Mobile which facilitates online savings account opening anytime, anywhere, in as fast as 10 to 15 minutes—free-of-charge and with no initial deposit requirement—without the need to visit a LANDBANK branch.
Powered by Artificial Intelligence, the LANDBANK DOBS Mobile allows interested clients to fill out application forms online, take a “selfie” and upload a valid identification card through the LANDBANK Mobile Banking App (MBA) on their mobile device. This eliminates the need to visit and line up in branches to open an account and support the government’s health protocols during this pandemic.
Data from the Bangko Sentral ng Pilipinas (BSP) showed that a basic indicator of financial inclusion for sustainable and equitable national development is ownership of an account held in banks, e-money wallets, and microfinance institutions (MFIs) used to save, send or receive remittance, as well as for income, benefits, and bills payment. In its 2019 financial inclusion survey, the BSP said only 20.9 million Filipinos or 23% of the population own an account.
For more updates, please Follow, Like and Share the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), and join our Viber community (@LANDBANK), or visit the LANDBANK website (www.landbank.com).
Davao cacao co-op relishes sweet success via LANDBANK partnership
The Biao Agrarian Reform Beneficiaries Cooperative (BARBCO) led by General Manager Guadalupe Ocial has grown into a prominent cacao industry player in the Davao region through a productive partnership with LANDBANK. DAVAO CITY – From its humble beginnings to the success it is now reaping, the growth of the Biao Agrarian Reform Beneficiaries Cooperative (BARBCO) is deeply rooted in the soil of collective endeavor, resilience, and fruitful partnerships. BARBCO was established in 1992 by former employees of the defunct Philippine Cocoa States Corporation, and initially ventured into the Lakatan banana industry. BARBCO has since grown into a prominent agriculture player in the region, primarily engaged in cocoa production, marketing, and cocoa liquor and chocolate production. It now has 41 regular members and 215 associate members. Their journey, however, was not without challenges. BARBCO General Manager Guadalupe Ocial admits that the 200 hectares of land awarded to them as Agrarian Reform Beneficiaries (ARBs) was a significant opportunity, but needed much work to really establish a productive and sustainable business. They needed enough working capital to fuel their growth—and this was where the Land Bank of the Philippines (LANDBANK) stepped in. BARBCO first turned to LANDBANK for support during the co-op’s early beginnings in the 1992 when they availed funding for Lakatan banana production. This relationship grew over the years and paved the way for their successful venture into the cacao value chain in 2016. General Manager Ocial emphasizes the importance of this partnership especially in streamlining the process of securing financial assistance whenever they needed it. BARBCO first gained prominence in 2018 as the producer of Chocolate de Biao or "hugot chocolates" which featured sentimental lines, that became popular especially among the younger market. "Because of this long-standing relationship we have with LANDBANK, it was easier for us to process documents for the assistance we need," said General Manager Ocial. Today, BARBCO's portfolio includes the consolidation and processing of cacao beans into various chocolate products, including tablea, nibs, cacao butter, and powder. This access to credit and ease of doing business with LANDBANK has empowered BARBCO to expand their reach. What began with cacao bean consolidation solely within Davao City has now extended to Davao del Norte, Davao Occidental, and Davao del Sur. And the cooperative's success extends beyond financial gains. BARBCO serves as a conduit of support from LANDBANK to its farmer members, ensuring fair compensation for their produce. This commitment to uplifting local farmers has garnered attention even from international food corporations, who now supply cacao beans to BARBCO, drawn by the promise of equitable pricing. "As a cooperative, we are like a channel of the support of LANDBANK. So whatever we get from LANDBANK, we provide it to our farmer members by making sure that we give them the best price for their cacao beans," explained General Manager Ocial. Even during the peak of the COVID-19 pandemic, BARBCO stood resilient, thanks in no small part to the partnership with LANDBANK. Through prudent management and unwavering support, they were able to sustain their workforce, ensuring that employees are properly compensated amid limited operations. For General Manager Ocial, BARBCO's success is not measured solely in profits but in the fulfillment of a collective vision. As she reflects on their journey, she underscores the legacy that the co-op aims to leave behind—a legacy of empowerment, shared prosperity, and community upliftment. "It's a legacy na maiiwan, because I'm not really after my own gain and profit. As long as I can provide for my family, I’m fulfilled. As long as my members and workers are happy and satisfied, then so am I," she added. As BARBCO continues to sow the seeds of success, their partnership with LANDBANK remains steadfast—a testament to the transformative power of collaboration in driving inclusive growth and prosperity in the rich agricultural landscape of Davao and beyond. 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, while leveraging on innovative technology for safe, convenient, and accessible digital banking solutions.
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From national security to food security: Retired cop pursues farming thru LANDBANK
After 25 years in service, retired policeman Ritchie Tenegra ventured into poultry farming, and through LANDBANK’s support, now contributes to enhancing food security for the local community. LEON, Iloilo – From his sworn oath to ‘serve and protect’ the community for 25 years as a dedicated police officer, Ritchie Tenegra shifted his focus towards an equally meaningful purpose: food security. He has since embraced retirement by pursuing his other passion of poultry farming, and is now one of the reliable food suppliers in this town. At a young age, Ritchie saw the potential of animal farming through his parents who owned a piggery. He later followed their footsteps and established his own small piggery in his backyard in 2010 as an additional source of income to support his family. While still in the police force, he had limited capital to start his piggery operations. So Ritchie applied to be a beneficiary of the Swine Dispersal Program of the Department of Agriculture (DA), and was provided his very first piglet that he grew and multiplied. “Mahirap pagsabayin ang pagpupulis at pag-aalaga ng baboy, pero kailangan ng tiyaga dahil kulang talaga para sa pamilya ko ang sahod ko, lalo na’t may mga anak akong nag-aaral,” he said. (It's hard to be a police enforcer and raise pigs at the same time, but it takes patience because my salary is really not enough for my family, especially since I have children still in school.) Encouraged by a fellow cop to diversify his farm with a chicken coop, he delved into poultry farming in 2013, starting with a mere 20 heads. Upon retiring from the service in 2020, Ritchie dedicated himself to full-time farming, and applied for a loan from the Land Bank of the Philippines (LANDBANK) to expand his piggery. However, just a week after his loan was approved, the African Swine Flu outbreak hit the country, which devastated the local pig industry. Eager to push through with his new purpose, Ritchie shifted his focus towards expanding his chicken coop through LANDBANK's Agricultural Competitiveness Enhancement Fund (ACEF) Lending Program, where he secured a P1 million loan to fund the improvement of his poultry farm in 2022. "Malaking tulong talaga ang LANDBANK sa pagpapalago ng manukan ko. Saan ka makakita ng loan sa bangko na isang milyon, tapos P20,000 lang ang interes taon-taon? Kaya malaki talaga ang pasalamat ko sa LANDBANK," Ritchie said. (LANDBANK has really been a huge help in growing my chicken coop. Where can you find a bank loan of one million, then the interest is only P20,000 every year? So I am really grateful to LANDBANK.) From the 20 chickens in a 4-by-6-meter coop in his backyard, the loan supported the scaling up of his poultry operations to an increase in his flock size to 2,000 breeders, and the expansion of his coop to cover an area of 2,000 square meters. In less than a year since his expansion, Ritchie has become a reliable supplier for the DA’s Chicken Dispersal Project, wherein they give away hens to aspiring poultry farmers—just like Ritchie once was. He has also become an established supplier of poultry products for local eateries and restaurants. “Kung hindi dahil sa LANDBANK, hindi lalaki nang ganito itong manukan namin. Malaki talaga ang naitulong ng LANDBANK sa pamilya ko,” said Ritchie. (If it wasn't for LANDBANK, our chicken coop wouldn't grow like this. LANDBANK really helped my family a lot.) LANDBANK remains steadfast in its commitment to servicing the growth requirements of farmers like Ritchie nationwide. In partnership with the DA, LANDBANK provides necessary credit to farmers and fishers, plus their cooperatives and associations, as well as micro and small enterprises (MSMEs) through the ACEF Lending Program, which helps increase their production and enhance their competitiveness. As of January 2024, LANDBANK has released a total of P12.1 billion in loans under the ACEF program towards fostering sustainable and inclusive growth in the agriculture sector. 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 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 sees rise in online investors after RTB-30 sales surge
Demand among Filipino retail investors to utilize digital investment platforms is growing, as the Land Bank of the Philippines (LANDBANK) sold significantly more online placements in the recently concluded Retail Treasury Bonds Tranche 30 (RTB-30) issuance of the National Government. The Bank sold close to half a billion or P438 million worth of RTB-30 investments through its online channels, which is almost three fold of what it sold in the last RTB-29 offering in 2023. LANDBANK’s online sales represent two-thirds of the total RTB-30 online sales worth P664 million. “The significant increase in online placements for RTB-30 reflects the growing confidence of retail investors in using our digital solutions. LANDBANK will remain committed to providing Filipinos with secure and convenient ways to participate in the financial market and contribute to nation-building,” said LANDBANK President and CEO Lynette V. Ortiz. The RTB-30 digital placements worth P438 million were sold through the LANDBANK Mobile Banking App and the mobile banking app of the Overseas Filipino Bank (OFBank)—the official digital bank of the Philippine government and a subsidiary of LANDBANK. The RTB-30 was also sold through the LANDBANK Link.BizPortal, a web-based payment channel, via the Online Ordering Facility of the Bureau of the Treasury (BTr). The National Government raised a total of P585 billion for the RTB-30 issuance making it the largest domestic fund-raising issue to date. As Lead Issue Manager, LANDBANK sold and contributed almost 30% of total sales. RTB-30 offers a very attractive investment return with a coupon rate of 6.25% per annum, with a minimum placement of P5,000. Interest payments will be paid quarterly within a five-year term. LANDBANK is one of the Joint Lead Issue Managers of RTB-30, designed to raise funds in support of the National Government’s sustainable and inclusive development agenda. The proceeds of the issuance will be used for enhancing the country’s infrastructure, strengthening the agriculture and other essential sectors, and improving the healthcare system, among other national development priorities. 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 supporting the National Government’s fundraising initiatives to boost public resources for the country’s development plans and programs.
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