LANDBANK reaffirms support to transport co-ops; NG’s modernization drive

January 31, 2021

The Land Bank of the Philippines (LANDBANK) expressed its continuous support to the transportation sector during the opening ceremonies of the 5th Transport Cooperative National Congress on January 29, 2021.

LANDBANK President and CEO Cecilia C. Borromeo assured transport cooperatives nationwide of readily available lending programs to help address the pressing concerns faced by the transport industry under the new normal.

“LANDBANK is one with all the players in the transportation sector toward building a more resilient and modernized transport system. As your long-time partner in growth and development, we reaffirm our commitment to support your transformative journey toward the next normal of greater modernization,” said LANDBANK President Borromeo.

Organized by the National Federation of Transport Cooperatives’ (NFTC) with the theme, “Transport Cooperatives’ Transformation towards the New Normal,” the National Congress was held to discuss several matters, including the implementation of the National Government’s PUV Modernization Program in relation to the challenges posed by the COVID-19 pandemic.  

Support to transport cooperatives

The state-run Bank continues to offer the SPEED-PUVs Program (Support Package for Environment-friendly and Efficiently Driven PUVs Program) which extends affordable financing to transport cooperatives and corporations for the purchase of modern jeepneys.

As of December 2020, LANDBANK has approved P1.2 billion-worth of loans from 25 borrowers for the acquisition of 574 modern units. Another 43 loan applications are in the pipeline amounting to a total loan application of P2.53 billion for the acquisition of 1,126 modern units. This came with the government subsidy which has been increased to P160,000 per vehicle effective last year.

In 2020, LANDBANK also launched the I-RESCUE for BUS Transport Lending Program (Interim REhabilitation Support to Cushion Unfavorably-affected Enterprises by Covid-19 for Better Urban Services Transport) to offer a similar credit assistance to bus operators. With an initial fund of P3 billion, the loan facility can finance up to 80% of the acquisition cost of a modern public utility bus, with an affordable fixed interest rate of 5% per annum for the first three (3) years.

Arangkada Projects with the DOTr

Aside from offering financial support to transport cooperatives, LANDBANK has also partnered with the Department of Transportation (DOTr) and its attached agencies on various programs in support of the National Government’s transport modernization agenda.

Under the fuel subsidy scheme, LANDBANK has so far distributed direct cash grants worth P6,500 each to 122,311 transport operators who have been adversely affected by the implementation of COVID-19 safety protocols. Distribution of cash grants is ongoing and targeted for completion by April 2021.

The Bank has also extended appraisal services for the North-South Commuter Railway Extension Project (NSCR-Ex), which is designed to expand the existing mass transportation in Metropolitan Manila and adjacent areas. Likewise, under the Resettlement Action Plan Entitlements Distribution Mechanism, LANDBANK delivers cash entitlements to eligible residents and other Project-Affected Persons (PAPs) of the Extension Project.

The DOTr and LANDBANK will also team-up for the Pilot Production Testing of the Automatic Fare Collection System (ACFS), which will utilize convenient Mastercard EMVCo-compliant contactless cards to pay fares in public transport modes. An initial Proof of Technology demonstration was conducted last December 18, 2020.

Both of LANDBANK’s transport lending programs—the SPEED-PUVs and I-RESCUE for BUS Transport—are closely coordinated with the DOTr to ensure their alignment with the Public Utility Vehicle Modernization Program (PUVMP).

Interested borrowers may visit the nearest open LANDBANK Lending Center or Branch nationwide, or call LANDBANK’s customer service hotline at (02) 8-405-7000 or at PLDT Domestic Toll Free 1-800-10-405-7000.

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LANDBANK backs Philippine Army co-op with P10-B loan line

LANDBANK and PAFCPIC sign a P10-billion loan line to support the financial needs of AFP personnel and their families. Leading the ceremony are LANDBANK President and CEO Lynette V. Ortiz (2nd from right), PAFCPIC Chairman BGen. Francisco M. Paredes (Ret) (3rd from right), LANDBANK Executive Vice President Ma. Celeste A. Burgos (rightmost), and PAFCPIC President BGen. Fernando S. Zabat (Ret) (leftmost). Land Bank of the Philippines (LANDBANK) has extended a P10-billion rediscounting line to support the Philippine Army Finance Center Producers Integrated Cooperative (PAFCPIC) and its members serving in the Armed Forces of the Philippines (AFP).  The state-run Bank expanded the Cooperative’s previous P8 billion credit line to P10 billion to sufficiently augment working capital and enable PAFCPIC to better serve the financial requirements of its more than 190,000 members.  PAFCPIC's membership consists of active and retired military and civilian personnel from the Philippine Army, Philippine Navy, and Philippine Air Force, as well as their immediate dependents. The ceremonial loan signing event was led by LANDBANK President and CEO Lynette V. Ortiz and PAFCPIC Chairman BGen. Francisco M. Paredes (Ret), alongside LANDBANK Executive Vice President Ma. Celeste Burgos and PAFCPIC President BGen. Fernando S. Zabat (Ret) on 29 May 2024 at the LANDBANK Plaza in Manila. Also present as witnesses were LANDBANK Senior Vice President Lucila E. Tesorero and Vice President Leonardo D. Aurellana Jr., with PAFCPIC Vice President MGen. Rolando V. Picar (Ret) and Executive Vice President BGen. Anastacio C. Cabading. "By boosting your financial resources and upgrading your operational efficiency through our digital solutions, we look to further improve your service delivery to your members and the entire armed forces community," said LANDBANK President and CEO Ortiz.  Apart from the financial assistance, LANDBANK likewise pledged to support PAFCPIC's digitalization efforts by onboarding the Cooperative to the Bank’s web-based payment platform, Link.BizPortal, which will streamline the collection of payments for its members’ capital contributions, deposits, and loans, thereby enhancing their operational efficiency. “This milestone is a manifestation of almost three decades of business collaboration between PAFCPIC and LANDBANK, nurtured and nourished with trust and confidence. We are grateful for LANDBANK's unwavering support, which has been instrumental in enabling us to better serve our members and their families,” said PAFCPIC Chairman Paredes. LANDBANK conferred PAFCPIC with the Distinguished Initiators and Movers of National Development (DIAMOND) Award last year, for the co-op’s contributions to promoting countryside and national development. The LANDBANK DIAMOND Award honors exceptional Bank clients, fund management and digital banking partners that have made positive change in the communities they serve. LANDBANK remains committed to providing robust financial solutions to cooperatives and its members nationwide towards promoting countryside to countrywide development.  ABOUT LANDBANK LANDBANK is the largest development financial institution in the country promoting financial inclusion, digital transformation and sustainable development to benefit Filipinos. As the only Bank present in all 82 provinces in the county, 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.


LANDBANK Mobile App gets account-opening upgrade; usage up 96% in Q1 2024

Customers can now open a Land Bank of the Philippines (LANDBANK) savings account completely online via smartphones, as the Bank continues to serve the growing preference of customers for digital solutions and promote financial inclusion.  LANDBANK has upgraded its Mobile Banking App (MBA) with a new straight-through account opening feature which allows customers to open a digital account instantly from anywhere, at any time, without visiting a LANDBANK Branch.  Through the MBA, customers can open a LANDBANK PISO Plus basic deposit account, a regular LANDBANK Visa debit account, and the new GoBayani savings account designed for overseas Filipinos, to help build their savings and start their financial journey.  To open a LANDBANK account, interested clients need only their smartphones downloaded with the latest version of the LANDBANK MBA, a secure internet connection, and any valid identification card such as a Philippine Passport, Driver’s License, SSS, UMID, PRC ID, or PhilSys ID. "We are dedicated to continue expanding our digital offerings to bring more Filipinos into the financial mainstream. Opening a LANDBANK account has never been easier, and we hope more customers can get to experience the benefits of our convenient and secure banking services," said LANDBANK President and CEO Lynette V. Ortiz. The LANDBANK MBA is a free application that offers seamless and convenient online fund transfers, bills payments, balance inquiries, and salary loan services.  Using the MBA, LANDBANK customers also enjoy free fund transfers to other banks via InstaPay and PESONet for the first three transactions in a day worth P1,000 and below. Q1 2024 Digital Banking Performance The LANDBANK MBA recorded a remarkable 96% increase in usage during the first three months of 2024, as transactions soared to 20.9 million from 10.7 million recorded in the same period in 2023.  Fund transfers and bills payment transactions drove the transaction volume growth, as the MBA generated a 42% increase in total transaction value or P89.3 billion compared to P63 billion last year. The LANDBANK MBA also led the 63% growth or a total of 30.79 million transactions across all of the Bank’s major digital channels, reaching P1.95 trillion in total transaction value.  The state-run Bank’s other digital channels include iAccess, an online retail banking channel; corporate internet banking platform, weAccess; web-based payment channel, Link.BizPortal; real-time web-based remittance system for overseas Filipinos, i-Easy Padala; alternative payment channel, Electronic Tax Payment System (eTPS); facility for institutional clients and national government partners, Electronic Modified Disbursement System (eMDS); and electronic bulk disbursement facility, Bulk Crediting System (LBCS).  LANDBANK remains committed to enhancing its digital infrastructure to deliver seamless banking experiences and meet the evolving needs of customers. 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 country, committed to providing accessible and affordable financial support to key players and industries as part of its broader thrust of serving the nation.  


LANDBANK clinches int’l awards for rural electrification, financial inclusion

LANDBANK Executive Vice President Ma. Celeste A. Burgos (rightmost) receives the award from ADFIAP Chairman Saud A. Minam (center) and First Vice Chairman Kao Thach (leftmost) for the Bank’s development project on rural electrification under the Infrastructure Development category during the ADFIAP Sustainable Development Awards 2024 in Phnom Penh, Cambodia on 16 May 2024. (Photo credit to ADFIAP) In recognition of its steadfast commitment to promoting sustainable development, Land Bank of the Philippines (LANDBANK) has been conferred with two international awards by the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) for its development projects on rural electrification and financial inclusion.  LANDBANK’s BRIGHTNESS Lending Program, which stands for BRinging Inclusive Growth in every Household Through National Electrification Support Services, won in the Infrastructure Development category, while the Bank’s support to ASA Philippines Foundation, Inc.’s (ASA Philippines) credit expansion for underserved women earned a Merit Award in the Financial Inclusion category.  ADFIAP Chairman Saud A. Minam, First Vice Chairman Kao Thach, and Second Vice Chairman Aria Putera Ismail presented the awards to LANDBANK, represented by Executive Vice President Ma. Celeste A. Burgos, at the ADFIAP Sustainable Development Awards on 16 May 2024 in Phnom Penh, Cambodia.  “LANDBANK is honored to receive these prestigious awards from ADFIAP, which underscore our unwavering dedication to advancing sustainable and inclusive development. This recognition inspires us to continue empowering underserved communities, fostering economic growth, and enhancing quality of life for our valued clients," said LANDBANK President and CEO Lynette V. Ortiz. Launched in 2013, LANDBANK BRIGHTNESS Lending Program aims to expand energy access in barangays to spur growth and generate more economic activities in the countryside by providing financing assistance to qualified distribution utilities and wholesale power aggregators.  This initiative supports the National Government’s rural electrification efforts under Republic Act No. 9136, otherwise known as the “Electric Power Industry Reform Act of 2001 (EPIRA Law),” which ensures the quality, reliability, security and affordability of electric power supply nationwide.  As of 31 March 2024, total approved loans under the BRIGHTNESS Lending Program have reached P13.7 billion, supporting over 4.8 million households with reliable power supply. LANDBANK, represented by Executive Vice President Ma. Celeste A. Burgos (center), also receives a merit award under the Financial Inclusion category as presented by ADFIAP Chairman Saud A. Minam (rightmost) and Second Vice Chairman Aria Putera Ismail (leftmost). (Photo credit to ADFIAP) Meanwhile, LANDBANK’s support enabled ASA Philippines to raise P5.0 billion through a five-year syndicated corporate notes facility. Dubbed “Project Nanay First,” the proceeds from the offer are aimed to reach and empower more women, particularly mothers, from economically disadvantaged sectors through the provision of accessible financing.  ASA Philippines’ five-year corporate notes issuance was classified as the first-ever Gender Bonds issued in the country, as certified by social bond second-party opinion provider DNV (Det Norske Veritas) and registered with the Securities and Exchange Commission (SEC). The partnership promotes broader financial inclusion in alignment with the Philippine Development Plan (PDP) 2023-2028 and advocates for environmental, social, and governance (ESG) principles.  ADFIAP serves as the focal point of all development banks and other financial institutions engaged in development financing across the Asia-Pacific region, with the mission to advance sustainable development through its members. The annual ADFIAP Awards recognizes member-institutions that have made important contributions to national development. 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.