LANDBANK President and CEO Cecilia Cayosa Borromeo (3rd from left) along with Pryce Corporation Chairman Salvador P. Escaño (4th from left) and President Efren A. Palma (5th from left) lead the signing of a P1.6-billion credit agreement to fund the firm’s expansion on 27 January 2023 at the LANDBANK Plaza in Malate, Manila. Joining them are Pryce Gases, Inc. Chairman Atty. Earl Christian L. Lerio (rightmost), LANDBANK Senior Vice Presidents Ma. Celeste A. Burgos (2nd from left) and Charlotte I. Conde (leftmost).
The Land Bank of the Philippines (LANDBANK) and Pryce Corporation signed a P1.6-billion loan agreement to fund the expansion of the firm’s operations in real estate development and liquefied petroleum gas (LPG) distribution.
LANDBANK President and CEO Cecilia Cayosa Borromeo, Pryce Corporation Chairman Salvador P. Escaño and President Efren A. Palma led the signing on 27 January 2023 at the LANDBANK Plaza in Malate, Manila. They were joined by Pryce Gases, Inc. Chairman Atty. Earl Christian L. Lerio, LANDBANK Senior Vice Presidents Ma. Celeste A. Burgos and Charlotte I. Conde, and Vice President Jimmy P. Arco.
“LANDBANK is committed to supporting the continued expansion of Pryce Corporation to help provide a wide array of essential products and services to customers nationwide. We stand ready to serve the growth requirements of the firm and its subsidiaries, as well as other productive businesses towards advancing inclusive economic development,” said President Borromeo.
Of the total loan amount, Pryce Corporation will allocate P1.5 billion for the construction of LPG terminals and refilling stations of its subsidiary, Pryce Gases, Inc.
Pryce’s other subsidiary, Oro Oxygen Corporation, will be supported with P105 million to fund the expansion of its LPG products distribution.
The remaining P55 million will finance the development of Pryce Company’s memorial parks and columbariums in major cities of Mindanao, including one in Iligan City that is currently ongoing construction.
“The P1.6-billion loan from LANDBANK, combined with Pryce’s existing resources, will help Pryce to further expand its LPG infrastructure and penetrate the market more deeply, thereby enabling Pryce to increase its market share. It will also bring the PRYCEGAS products closer and more accessible to the many household consumers,” said Chairman Escaño.
Pryce Corporation was established as a property holding and real estate development company, which is principally involved in the development of memorial parks and sale of memorial lots. At present, it has a total of 13 memorial parks in Mindanao and one columbarium in Cagayan de Oro City.
LANDBANK supports the financing requirements of key productive sectors of the economy, to drive its broader thrust of nation-building in serving the nation.
Kaagapay mo sa buhay: LANDBANK calls on public to invest in RTB-30 to boost savings
State-run Land Bank of the Philippines (LANDBANK) is inviting Filipinos to participate in the Bureau of the Treasury’s (BTr) latest retail treasury bonds offering to save more of their money, while also helping the National Government to raise funds for the country’s development projects. Interested investors may purchase the BTr’s Retail Treasury Bonds Tranche 30 (RTB-30) with a minimum investment of P5,000.00, offering an annual fixed interest rate of 6.25% within a five-year term. The proceeds from the issuance will be channeled towards enhancing the country’s infrastructure, strengthening the agriculture and other essential sectors, and improving the healthcare system, among other national development priorities. “The BTr’s RTB-30 not only offers investors higher financial returns but also the opportunity to take part in nation-building. Participating is especially more convenient and easier, now that there are various channels to invest in government bonds,” said LANDBANK President and CEO Lynette V. Ortiz. LANDBANK serves as one of the Joint Lead Issue Managers of RTB-30, which has the theme,“Kaagapay Mo Sa Buhay.” The offer period will end on 23 February 2024 or earlier as determined by the BTr, and the issue date is scheduled on 28 February 2024. Interest payments will be paid quarterly during the term of the bond. More accessible than ever Investing in BTr’s RTB-30 has been made more convenient and easier for interested investors in the country and abroad through LANDBANK’s various investment channels. LANDBANK account holders can make online placements for RTB-30 in as fast as five minutes through the LANDBANK Mobile Banking App. This feature is also available via the Mobile Banking App of the Overseas Filipino Bank (OFBank)—the official digital bank of the Philippine government and a subsidiary of LANDBANK—allowing Filipinos from 130 countries to conveniently invest in the bond offer. Interested investors can also make online placements through the BTr Online Ordering Facility and settle the payments via the LANDBANK Link.BizPortal online payment platform. Over-the-counter placements are likewise accepted in all LANDBANK branches nationwide. Holders of previously issued bonds, namely RTB 03-11 and RTB 05-12, may also exchange and reinvest their bond holdings for the latest bond offer via over-the-counter transactions. 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.LEARN MORE
LANDBANK unveils time deposit supporting social, sustainable projects
The Land Bank of the Philippines (LANDBANK) is offering a new sustainable time deposit product that channels funding support for social and environmental initiatives, while providing customers a secure avenue for financial returns. The LANDBANK GreenGrowth Deposit features tiered interest rates as high as 4.25% per annum and is made available to individuals and private institutions. Deposited funds under GreenGrowth Deposit will further boost LANDBANK’s thrust of sustainable financing, focusing on renewable energy projects, green technologies, and other eco-friendly initiatives and investments. The funds will be also allocated for community-centric programs aimed at enhancing social welfare. “The LANDBANK GreenGrowth Deposit reflects our dedication to creating a greener and more sustainable future, while encouraging customers to be part of this transformative journey. Open an account now where each peso deposited contributes to creating ripples of meaningful change,” said LANDBANK President and CEO Lynette V. Ortiz. LANDBANK’s new time deposit product features a fixed one-year term, with a minimum placement of P50,000 offering a 2.25% interest rate per annum. Customers can enjoy higher returns of up to 4.25% interest rate for deposits amounting to P5 million and above. Interested customers may open the LANDBANK GreenGrowth Deposit account online via the LANDBANK Digital Onboarding System (DOBS) and visit any of the 607 LANDBANK branches and branch-lite units nationwide to complete the account setup. 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 sustainable finance towards building a stronger and more resilient economy.LEARN MORE
LANDBANK bags 5 Quill Awards for communication excellence
The Land Bank of the Philippines (LANDBANK) bagged five (5) recognitions at the 2024 Philippine Quill Awards for its exemplary communication campaigns and initiatives. LANDBANK Corporate Services Sector Head, Executive Vice President Alex A. Lorayes (middle) receives the awards for the Bank, with Senior Vice President Catherine Rowena B. Villanueva (3rd from left), First Vice President Vivian M. Cañonero (5th from left), Assistant Vice Presidents Gaudioso Carlos A. Garcia (6th from left) and Melissa B. Calimag (2nd from left), and Unit Heads Joselito G. Ramos (leftmost) and Kurt Dale O. Tordesillas (rightmost). The Land Bank of the Philippines (LANDBANK) garnered five (5) recognitions at the 20th Philippine Quill Awards for its exemplary communication campaigns and initiatives that effectively convey the Bank’s pivotal role and contributions to national development. The state-run Bank received the honors on 23 January 2024 for both the Communication Management and Communication Skills categories, recognizing LANDBANK's strategic communication efforts in servicing its diverse publics and stakeholders. “These Quill awards are a testament to LANDBANK's unwavering commitment to excellence, innovation, and meaningful customer engagement. They inspire us further to continue elevating our service and promoting our advocacies of financial inclusion and sustainability," said LANDBANK President and CEO Lynette V. Ortiz. LANDBANK’s Quill Awards The LANDBANK Serving the Nation Campaign earned a recognition in the Marketing, Advertising and Brand Communication category for effectively reintroducing the Bank's expanded role as a driver of national development. The campaign highlighted LANDBANK's intensified support to the agricultural sector and other key economic sectors. The LANDBANK Serving the Nation Institutional Video was recognized under the Audio and Visual category. With the central theme of "Para sa Kinabukasan ng Bayan," the video showcases the Bank's holistic programs and initiatives is support of its diverse customers. Under the Communication Management category, the Bank’s Hybrid Flag Ceremony was also recognized for the Bank’s innovative response to physical restrictions on mass gatherings, thereby continuing to foster a sense of unity and community among its employees at the height of the global health pandemic. The Bank’s #MyTEStimony campaign received a recognition under the Social Media Category for showcasing the challenges and triumphs of the government’s scholars under the Tertiary Education Subsidy (TES) Program, in partnership with the Commission on Higher Education (CHED). Finally, the LANDBANK Information Security Campaign received a Quill Award for raising the awareness of customers and the general public against various types of online banking fraud to better safeguard their finances. The Philippine Quill Awards, organized by the International Association of Business Communicators (IABC) Philippines, is a prestigious awards program in the field of business communication, celebrating the strategic use of communication to achieve business goals, foster positive stakeholder relationships, and contribute to societal development. 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.LEARN MORE