President Duterte’s all-out support for the Land Bank of the Philippines (LANDBANK) through a capital infusion that is the largest compared to the combined amounts that the institution had received under previous administrations has expanded financial inclusion among Filipinos and provided better services to the underserved sectors of the economy, Finance Secretary Carlos Dominguez III has said.
Dominguez said that at the homestretch of the Duterte administration, LANDBANK’s total equity will have grown to P230.4 billion by end-April, which represents a 160-percent increase from its P88.7-billion capital when the President took office in 2016.
This feat has made LANDBANK the second largest universal bank and the bank with the highest paid-in capital in the country, Dominguez said.
The state-run lender’s financial strength under President Duterte has been used to provide low-interest loans to underserved sectors, especially small farmers and fisherfolk; and extend support to broad sections of the economy, such as healthcare, education, power generation and distribution, water, transportation, and housing, said Dominguez who is also LANDBANK chairman.
He said LANDBANK has extended financing support for the construction of over 200 hospitals and the procurement of more than 20,000 patient beds.
“Early in your administration, I asked for your permission to allow the Land Bank of the Philippines to expand its asset base and scope of services. You not only gave your permission but also your total support to enable LANDBANK to achieve these goals. It is your administration, Mr. President, that has infused the largest amount of capital into LANDBANK compared with the combined amounts under all other administrations,” Dominguez said during LANDBANK’S historic turnover of 1.36 billion shares of common stock to the government.
These new shares of stock in the name of the Republic of the Philippines is worth P136.2 billion. President Duterte received the stock certification from LANDBANK on behalf of the government at Malacañan Palace Monday night.
Dominguez said LANDBANK’s capital increase has been prudently managed and used, as the President instructed, to extend more loans to the agriculture sector.
By year-end 2021, LANDBANK’S loan portfolio for the agriculture sector stood at P247.9 billion, an 80-percent increase from the P137.6 billion in 2015, Dominguez said.
To assist the President in realizing his goal of inclusive and sustainable growth, LANDBANK is also the biggest lender to the local government units (LGUs).
“The robust capital infusion reinforced LANDBANK’s financial strength and allowed it to be an effective partner of the government in advancing its development agenda. We have used that strength to better serve the Filipino people,” Dominguez said.
LANDBANK’S total equity of P88.7 billion in 2015 steadily rose when President Duterte took office, from P152.49 billion in 2019 to P177.64 billion in 2020, and to P207.68 billion in 2021.
“On behalf of the men and women of LANDBANK, I would like to thank you, Mr. President, for the strongest support any President has provided for this institution,” Dominguez said.
Dominguez said LANDBANK’s support to other sectors of the economy “will help revive our enterprises and stimulate domestic economic activity.”
On top of fulfilling its role as a policy bank, Dominguez said LANDBANK also took the lead in modernizing the banking sector by being instrumental in the establishment of the Overseas Filipino Bank (OFBank), officially the first branchless digital-only bank in the country that now serves overseas Filipinos in 116 countries.
“Through your fulfilled promise to our workers abroad, they can now open bank accounts anywhere in the world, conveniently send money to their families, and save as well to grow their hard-earned incomes. They don’t have to go to a branch, they only have to use their cellphone or computer,” Dominguez said.
Dominguez also cited LANDBANK’S successful merger with the financially ailing United Coconut Planters Bank (UCPB) that took effect last March 1.
“I am pleased to report, Mr. President, that it has successfully implemented this merger with no major glitches or problems. Through the merger, we have reduced the risk of around 87 billion pesos in potential losses for the Philippine Deposit Insurance Corp. (PDIC) by putting the financially weak UCPB under the financially strong LANDBANK,” Dominguez said.
He commended outgoing LANDBANK President-CEO Cecilia Borromeo; Executive Vice Presidents Liduvino Geron, Carel Halog, Julio Climaco, Alan Bornas; and Senior Vice President Benjamin Bongolan for their almost three years of hard work and participation in making the LANDBANK-UCPB merger deal happen.
Dominguez said that as the distribution arm of the government’s social protection programs, LANDBANK’S cash transfers of P45.5 billion in 2015 to a total of 4.4 million beneficiaries grew to P133.6 billion in 2021 that benefited 10 million recipients nationwide.
“LANDBANK’s role in this effort served us well during the pandemic. The Bank will be instrumental in cushioning the impact of the Russia-Ukraine conflict for the most vulnerable sectors of the economy, because the amount you approved of 500 pesos per vulnerable family per month for 6 months will be coursed through LANDBANK. They will be the one to distribute the money through the bank accounts,” Dominguez said.
In helping achieve President Duterte’s goal of financial inclusion, LANDBANK provided bank accounts for 7.2 million previously unbanked national ID registrants, and will provide 6.3 million more bank accounts for unbanked Filipinos.
“This is the most effective instrument in building a truly inclusive financial system,” Dominguez said.
“Overall, I am happy to report that LANDBANK continues to be strong, stable and professionally managed,” he added.
This article was lifted from DOF's website (www.dof.gov.ph)
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.
LEARN MORELANDBANK 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.
LEARN MORETANYAG and Proud: LANDBANK at 62 honors champions of nation-building
To mark 62 years of meaningful public service, LANDBANK recently honored its outstanding clients and partners who have been instrumental in delivering essential financial and support services nationwide. The inaugural LANDBANK Gawad TANYAG (Tanging Yaman at Galing) Awards held on 8 August 2025 celebrated the Bank’s clients who have made an impact in communities and models of operational excellence, which include individual farmers and fishers, cooperatives, micro, small and medium enterprises (MSMEs), corporations and large enterprises, countryside financial institutions (CFIs), and microfinance institutions (MFIs). “Sa bawat kwento ninyo, nakikita ko ang hinaharap na hinahangad nating lahat: isang Pilipinas na mas mayaman sa oportunidad, masagana sa pag-asa — kaya’t maraming salamat po sa pagpapatunay na ang tagumpay ay hindi lamang monopolya ng iilan, na ang pag-asenso ay puwedeng makamit ng bawat mamamayan,” said Finance Secretary and LANDBANK Chairman Ralph G. Recto in a statement. LANDBANK President and CEO Lynette V. Ortiz led the awarding ceremony to honor exemplary clients who embody the Bank’s core values of partnership, loyalty, and excellence. She was joined by Department of Agriculture (DA) Undersecretary Roger V. Navarro, alongside key development partners. “Through Gawad TANYAG, we honor the invaluable contributions of our clients who help move our nation forward. This is our way of celebrating partnerships that go beyond banking — partnerships rooted in trust, shared purpose, and the pursuit of meaningful change,” said LANDBANK President and CEO Ortiz. Under the Gawad PITAK (Pinakatanging Kooperatiba) category, the Hagonoy Farmers Multi-Purpose Cooperative, Panabingan Multi-Purpose Cooperative, and Nueva Ecija Seed Grower Multi-Purpose Cooperative were recognized as outstanding agri-based cooperatives in the small, medium, and large categories, respectively. The ASKI Employees Credit Cooperative and Providers Multi-Purpose Cooperative were also honored under the non-agricultural cooperative category. Individual excellence was highlighted through the Ulirang Magsasaka award conferred to Alfonso Namujhe Jr. of Nueva Vizcaya, and the Ulirang Mangingisda award bestowed to Agrifina A. Gabres of Aurora. “Napakalaking tulong ng LANDBANK. Noong mag-umpisa kami, walang bangko na gustong tumulong sa amin. LANDBANK lang ang naniwala. My dad started the spark, and LANDBANK fueled it. The citrus industry of Nueva Vizcaya owes it to LANDBANK,” said Josephine Namujhe, who received the award on behalf of her father. The Gawad MSME was awarded to Jose Fernand Latog and Jollypig Farms, Inc. for the small and medium agri-based enterprises, respectively. Meanwhile, Spouses Patrick Mary and Rodary Therese Guanzon, and Spouses Mary Jeanette and Michael Anthony Bercadez were recognized under the small and medium non-agri enterprise categories, respectively. The Gawad KAAGAPAY (Korporasyon na KAagapay sa Ating GAnap na TagumPAY) was conferred to Soliman E.C. Septic Tank Disposal, Fiesta Communities, Inc., and Cebu Landmasters, Inc. for their significant contributions as corporations and large enterprises in stimulating local economic growth. “With the support of LANDBANK, we are very grateful that we have a partner in providing homes for our kababayans and empowering the Filipino people,” said Willie Tan, Founder and President of Fiesta Communities, Inc. Rural Bank of Angeles, Producers Savings Bank Corporation, First Isabela Cooperative Bank, and ASA Philippines Foundations, Inc. were recognized with the Gawad PFI (Partner Financial Institution) for their exceptional performance under the rural bank, thrift bank, and microfinance categories, respectively. The complete list of Gawad TANYAG awardees can be accessed here: https://tinyurl.com/356a3ezb LANDBANK is celebrating its 62nd anniversary marking 62 meaningful years of advancing growth, financial inclusion, and sustainability through responsive and impactful banking services. 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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