Be in the know of the latest news and updates about LANDBANK.
A strong brand of service: LANDBANK named ‘best bank’ for promoting financial inclusion
The Land Bank of the Philippines (LANDBANK) was recognized by Kantar Philippines as one of the 2023 Best Philippine Brands under the “Banking” category for providing convenient, accessible and innovative banking services to unbanked and underserved Filipinos nationwide. Kantar conferred the award to LANDBANK for its strong brand of service, decades of empowering the underserved, and for advancing financial inclusion in the country through the accessibility of its integrated physical and digital banking services. The market research firm also highlighted the Bank’s efficient delivery of cash grants to beneficiaries of the National Government’s social amelioration programs, particularly the digital disbursement of financial assistance under the Conditional Cash Transfer (CCT) Program. “This recognition is a testament to LANDBANK’s unwavering pursuit to reach and serve more Filipinos nationwide. We are continuously working towards the strategic expansion of our physical touchpoints and the enhancement of our digital channels to deliver exceptional and accessible banking service,” said LANDBANK President and CEO Lynette V. Ortiz. In support of the National Government’s financial inclusion drive, LANDBANK has also onboarded 8.35 million Philippine Identification System (PhilSys) registrants for their own transaction accounts, under the Bank’s co-location strategy with the Philippine Statistics Authority (PSA). The partnership aims to bank previously unbanked PhilSys registrants and grant them formal access to basic banking and other financial services. LANDBANK likewise has 1,111 agent banking partners (ABP) nationwide that offer services such as cash out, cash in, fund transfer, bills payment, and opening and issuance of LANDBANK Agent Banking Cards in unbanked and underserved communities. The Bank is also offering individuals who have no capacity to open a regular deposit savings account to open a LANDBANK “Perang Inimpok Savings Option” or PISO account with only P1.00 as minimum initial deposit and up to a maximum of P50,000 account balance. LANDBANK has opened 52,406 PISO accounts for unbanked and underserved Filipinos including students, public utility vehicle drivers, vendors, farmers, and fishers, as of end-August 2023. Kantar BrandZ Philippine Report LANDBANK was recognized for its strong brand image in the Kantar BrandZ Philippine Report, which was based on a comprehensive survey conducted in 2022 covering 44 local brands across four categories – banks, communication providers, general retailers and beverages. Kantar is a global marketing and data analytics company that specializes in analyzing, understanding, and interpreting consumer behavior and trends. The 2023 Philippines Brand Awards is the first edition held by Kantar Philippines in the country to honor the top brands that bring value to the lives of Filipino consumers.
LEARN MORE
LANDBANK installs first-ever ATM in remote La Union town
BAGULIN, La Union – The Land Bank of the Philippines (LANDBANK) recently installed the very first automated teller machine (ATM) in this fifth-class municipality to help promote inclusive growth. Located at the Bagulin Municipal Hall in Barangay Suyo, the new LANDBANK offsite ATM will make banking services more accessible, convenient, and safe for government employees, pensioners, beneficiaries of the Department of Social Welfare and Development (DSWD), and other clients from the town’s 10 barangays, who previously needed to travel to the neighboring town of Naguilian to access ATM services. Bagulin Mayor Virgilio C. Flor (3rd from right) and LANDBANK Senior Vice President Ma. Belma T. Turla (4th from right) led the inauguration of the offsite ATM on 12 September 2023. They were joined by Bagulin Vice Mayor Jaime A. Lictao (leftmost), with LANDBANK Bauang Branch Head Elizelda D. Calica (2nd from right) and La Union Lending Center Head Myra Myrtha M. Padolina (rightmost).
LEARN MORE
Retail dollar bonds purchase made easier by LANDBANK
The Land Bank of the Philippines (LANDBANK) has made investing in the Bureau of the Treasury’s (BTr) Retail Onshore Dollar Bonds 2 (RDB 2) more accessible and convenient through a menu of available investment channels for investors here and abroad. “We are inviting all our investors, especially those with regular dollar flows or those with existing dollar savings, to diversify across currencies by participating in RDB 2. You are not only securing your financial future, but also contributing to our nation's more prosperous tomorrow,” said LANDBANK President and CEO Lynette V. Ortiz during the RDB 2 launch on 27 September 2023. The RDBs are US dollar-denominated bonds with a coupon rate of 5.75% per annum and a tenor of 5.5 years, maturing on 11 April 2029. The public offer period for RDB 2 will run until 06 October 2023, subject to the discretion of the BTr, with the issue date scheduled on 11 October. The investment instrument allows investors to mobilize and grow their savings while helping fund the National Government’s priority socioeconomic programs and initiatives. The investing public may purchase the RDB 2 with a minimum investment of US$200 and increments of US$100 thereafter using either US dollar or Philippine peso accounts through LANDBANK’s investment channels. For investments made via peso accounts, LANDBANK will facilitate the currency conversions based on the prevailing market rate. Investing in RDB 2 can be completed in as fast as five minutes through the LANDBANK Mobile Banking App (MBA). This feature is also available in the Mobile Banking App of the Overseas Filipino Bank (OFBank)—the official digital bank of the Philippine government and a subsidiary of LANDBANK—making RDB 2 subscription accessible to overseas Filipinos from over 100 countries and territories. Investors of RDB 2 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. LANDBANK serves as one of the Joint Lead Issue Managers for the RDB 2 issuance, in line with its collective efforts to promote greater financial inclusion and support the National Government’s development agenda.
LEARN MORE
New LANDBANK ATM expands financial inclusion in Ifugao
LANDBANK inaugurates the new ATM in Aguinaldo, Ifugao led by Aguinaldo Mayor Gaspar Chilagan Jr. (4th from right) and LANDBANK Santiago Branch Head AVP Virginia Savilla (3rd from right), which will serve all 16 barangays in the municipality. AGUINALDO, Ifugao – In line with advancing financial inclusivity, the Land Bank of the Philippines (LANDBANK) recently inaugurated its new offsite ATM in the Municipality of Aguinaldo, Ifugao. As the only financial institution servicing the municipality, LANDBANK’s ATM located at the Ubao Barangay Hall will play a vital role in addressing the financial needs of the 16 barangays in Aguinaldo, as well as other neighboring towns. Aguinaldo Mayor Gaspar Chilagan Jr. and LANDBANK Santiago Branch Head AVP Virginia Savilla led the ceremonial event on 05 September 2023, together with other local officials. "We remain steadfast in expanding our touchpoints to provide accessible and responsive financial support and services nationwide, especially in unbanked and underserved areas in the countryside," said LANDBANK President and CEO Lynette V. Ortiz. The new LANDBANK ATM will add to the two point-of-sale (POS) terminals of the Aguinaldo Pomochan Multi-Purpose Cooperative, a LANDBANK Agent Banking Partner (ABP) that provides basic financial transactions on behalf of the Bank. "We extend our heartfelt gratitude to LANDBANK for this invaluable ATM addition, sparing our residents the unnecessary hassles of seeking distant banking facilities. This initiative significantly enhances the accessibility and convenience of banking services within our community," said Mayor Chilagan. The strategic placement of the LANDBANK ATM will also benefit various segments of the community, including municipal government employees, pensioners, teachers, police and military personnel, 4Ps beneficiaries, senior citizens, jeepney operators and drivers, and other recipients of the national government’s social programs. LANDBANK continues to step up the expansion of its touchpoints to help bridge the gap of financial accessibility for residents in remote areas, contributing to economic growth and development in the regions. The state-run Bank is celebrating its 60th anniversary this year, representing six decades of uplifting lives, empowering communities, and serving the nation — all in pursuit of an inclusive and sustainable economy.
LEARN MORE
LANDBANK puts up first-ever ATM in Gen. Emilio Aguinaldo, Cavite
General Emilio Aguinaldo Mayor Dennis M. Glean (2nd from left), Vice Mayor Michael B. Manalo (leftmost), and Land Bank of the Philippines (LANDBANK) Tagaytay City Branch Head Eliza M. Castrence (3rd from right) lead the inauguration of the LANDBANK offsite ATM in Brgy. Castanos Cerca near the LGU Municipal Hall on 4 September 2023. Joining them are Sangguniang Bayan Members Ricardo Binauhan and Municipal Councilor Darwin I. Quiacos (4th and 5th from left). The opening of the very first ATM in this 5th class municipality, formerly called as Bailen, allows LANDBANK to service the cash requirements of all 14 barangays of the town, which includes Batas Dao, Kabulusan, Kaypaaba, and Poblacion I. LANDBANK now has a total of 2,961 ATMs nationwide
LEARN MORE
LANDBANK loans to rice farmers reach P2.2-B
To boost local rice production amid challenges faced by the rice industry, the Land Bank of the Philippines (LANDBANK) has released P2.2 billion in loans to 13,701 rice farmers and cooperatives as of 31 July 2023 through the Expanded Rice Credit Assistance under the Rice Competitiveness Enhancement Fund (ERCA-RCEF). A total of P1.1 billion of the Bank’s loan releases under ERCA-RCEF directly financed palay production of individual rice farmers listed under the Department of Agriculture’s (DA) Registry System for Basic Sectors in Agriculture (RSBSA), while P507.5 million was earmarked for relending of cooperatives to its rice farmer-members; P394.1 million for rice trading and milling; and P222 million for the purchase of farm machineries and equipment. “LANDBANK is doing its share to strengthen local rice production by providing accessible and responsive financial assistance to rice farmers. In partnership with the DA, the ERCA-RCEF program forms part of our commitment to advance the agriculture sector and empower Filipino farmers,” said LANDBANK President and CEO Lynette V. Ortiz. Of the 13,701 beneficiaries, 4,783 hailed from Region 2, particularly the rice-producing provinces of Cagayan, Nueva Vizcaya and Quirino. LANDBANK also assisted 1,858 beneficiaries from Region 3; 1,463 from Region 6; 1,334 from Region 13; 1,323 from Region 4-B; and the rest from Regions 1, 4-A, 5, 7, 8, 9, 10, 11, 12, and the Cordillera Administrative Region (CAR). “Malaki ang naitulong ng ERCA-RCEF sa aming pagsasaka dahil mababa ang interes nito kumpara sa ibang pautang. Sana ay magtuloy-tuloy pa ang Programang ito para marami pang magsasakang kagaya ko ang matulungan,” said Noemi C. Negrillo, a 68-year-old rice farmer from Quirino province who was able to purchase farm inputs and sustain her rice production through a loan under the ERCA-RCEF. Implemented in partnership with the DA, the ERCA-RCEF is a credit facility which aims to boost the productivity and income of small rice farmers and their cooperatives, and cushion the initial impact of Republic Act No. 11203, also known as the Rice Tariffication Law (RTL). LANDBANK has fully disbursed the allocated fund for ERCA-RCEF from 2019 to 2022, and shall continue to make available P500 million in loans annually until 2024 to cooperatives and rice farmers registered under the RSBSA in the country’s 38 rice-producing provinces. The ERCA-RCEF Program allows individual rice farmers to borrow up to 90% of their total project cost at a low fixed interest rate of 2% per year. The loan may be used to purchase farm inputs for rice and rice seed production, farm machineries and equipment for production and post-production, working capital for rice and seed trading, as well as relending and rediscounting of existing loans of small rice farmers listed under the DA’s RSBSA.
LEARN MORE
LANDBANK awaits green light to resume fuel subsidy distribution
The Land Bank of the Philippines (LANDBANK) assures the fast and timely crediting of fuel subsidies and distribution of cash cards to intended transport beneficiaries nationwide once the prohibition to distribute in compliance to the election spending ban is lifted. The Land Transportation Franchising and Regulatory Board (LTFRB) is currently working on the exemption from the Commission on Elections (Comelec) to resume the distribution under the Fuel Subsidy Program (FSP). Pursuant to Comelec Resolution 10944, the releasing, disbursing or spending of public funds for social welfare projects are prohibited from September 15 to October 30, 2023 in relation to the Barangay and Sangguniang Kabataan Elections next month.
LEARN MORE
LANDBANK remits P50B investment in Maharlika
The Land Bank of the Philippines (LANDBANK) has remitted to the Bureau of the Treasury (BTr) its ₱50-billion contribution to the Maharlika Investment Corporation (MIC) as mandated by Republic Act No. 11954 which establishes the Maharlika Investment Fund (MIF), the first Philippine sovereign wealth fund aimed at boosting the country’s economic growth. Finance Secretary and LANDBANK Chairman Benjamin E. Diokno said that the Bank’s ₱50-billion investment to the MIF has already been settled with the BTr on Thursday, 14 September 2023, following the enactment of the MIF enabling law and the issuance of its Implementing Rules and Regulations (IRR) by the BTr. "We are witnessing a growing interest for investments in the MIF from multilateral financial institutions and foreign investors. With the regulatory requirements in place, and after securing the seed capital from state-run institutions, we are confident that the Fund will be operational by yearend,” said Secretary Diokno. At the same time, LANDBANK President and CEO Lynette V. Ortiz said the law creating the MIF has enough safeguards to protect the Bank’s invested funds. “The MIF law has put in place adequate safety nets to ensure full disclosure and transparency in the management of the Fund, as well as the integrity and professionalism of the management team that will be entrusted to lead the Maharlika Investment Corporation,” President Ortiz said. On 18 July 2023, President Ferdinand R. Marcos, Jr. signed into law Republic Act No. 11954, followed by the BTr’s issuance of the IRR a month later on 28 August 2023. The law authorizes LANDBANK and the national government to provide ₱50 billion each as initial fund capital, while the Development Bank of the Philippines (DBP) will contribute another ₱25 billion.
LEARN MORE
LANDBANK, Malungon LGU link up for digital payments
(front) Malungon Mayor Maria Theresa Constantino (2nd from right), Vice Mayor Mariano S. Escalada, Jr. (rightmost), Municipal Treasurer Eva Emejas (leftmost), and LANDBANK Assistant Vice President Jojo Alcover (3rd from right) lead the launching of the partnership for the use of the LANDBANK Link.BizPortal, alongside other local government officials and officers. MALUNGON, Sarangani Province – Residents and business entrepreneurs from this municipality can now pay for dues to the local government faster online through the digital payment facility of the Land Bank of the Philippines (LANDBANK). The Municipal Government of Malungon has partnered with the state-owned Bank for the integration of the LANDBANK Link.BizPortal to its own website, which offers a wide range of local public services. Through the Link.BizPortal, clients can now pay for local fees, such as business permits and realty taxes, at their own convenience and even at the comfort of their homes. “LANDBANK’s digital banking solutions advances the National Government’s digital and financial inclusion agenda in line with its expanded mandate of serving the nation,” said LANDBANK President and CEO Lynette V. Ortiz. Malungon Mayor Maria Theresa Constantino extended her appreciation to LANDBANK’s support to accelerate the municipality’s digitalization journey. “This is the first in Sarangani to fully implement online payments. So, tell your relatives, your neighbors, that we have a new added service to make it more convenient for the people of Malungon to pay their taxes. We thank LANDBANK in bringing the service closer to every home in Malungon,” said Mayor Constantino. The LANDBANK Link.BizPortal is a digital facility that allows clients to pay for products and services via the internet from both government and private institutions. For the first six months of the year, the LANDBANK Link.BizPortal has facilitated 4 million transactions with value of P6 billion. Of its total 1,326 partner merchants, the Portal has 978 government partners of which 180 have been newly-onboarded this year. LANDBANK is celebrating its 60th anniversary, representing six decades of uplifting lives, empowering communities, and serving the nation — all in pursuit of an inclusive and sustainable economy.
LEARN MORE
Towards improving ease of doing business: LANDBANK backs Tudela LGU digitalization efforts
Tudela Mayor Samuel Parojinog (center), LANDBANK Ozamiz Branch Head Geraldine Henoctan (left), and Tudela Treasurer Phanesa Gamotin (right) display the signed agreement to digitalize the payment of local government taxes and fees. TUDELA, Misamis Occidental – The Land Bank of the Philippines (LANDBANK) will be supporting the municipal government of Tudela to digitalize payments for business-related transactions towards fostering a competitive and robust local economy. The local government unit (LGU) of Tudela is set to make use of the LANDBANK Link.Biz Portal to enable local businesses and residents in this 5th class municipality to conveniently pay for various fees online, which includes business permits, real properties, resorts, and public market rentals, among other local dues. "Our partnership with the municipality of Tudela exemplifies LANDBANK's commitment to enhance ease of doing business and increase competitiveness in the communities we serve. We will continue to leverage on innovative financial solutions to drive sustainable and inclusive growth," said LANDBANK President and CEO Lynette V. Ortiz. Tudela Mayor Samuel Parojinog, LANDBANK Ozamiz Branch Head Geraldine Henoctan, and Tudela Treasurer Phanesa Gamotin recently led the signing of the Memorandum of Agreement (MOA) to formalize the partnership. "As we look forward to LANDBANK and Tudela's partnership, I have no doubt that together, we can create a more prosperous and thriving community for everyone," said Mayor Parojinog. Tuleda LGU has been a partner of LANDBANK since 1995, with the former availing of other various LANDBANK services and facilities, such as ATM Payroll Facility, Deposit Pick-up service, and Electronic Salary Loan (eSL). LANDBANK is committed to extending an array of digital facilities and services to LGUs nationwide, in support of Executive Order No. 170, which enjoins the Adoption of Digital Payments for Government Disbursement and Collections. The Bank's digital offerings likewise support the Ease of Doing Business Law, meant to accelerate various transactions such as permit issuance for enhanced efficiency, transparency and accountability in public service delivery. As of June 2023, the LANDBANK Link.Biz Portal has a total of 449 LGU partner merchants nationwide. The Portal is also aligned with the national government's call for a National Retail Payment System, which also supports the implementation of the "eGov Pay" payment solution, as mandated by the Bangko Sentral ng Pilipinas (BSP). LANDBANK is celebrating its 60th anniversary, representing six decades of uplifting lives, empowering communities.
LEARN MORE
SSS taps LANDBANK for payroll disbursement
SSS President and CEO Rolando L. Macasaet and LANDBANK President and CEO Lynette V. Ortiz lead the signing of partnership agreements between the two GOCCs on 23 August 2023 at the SSS Main Office in Quezon City. The Land Bank of the Philippines (LANDBANK) will ensure the timely and efficient disbursement of payroll to over 6,300 employees of the Social Security System (SSS) nationwide starting 01 September 2023. Through the signing of the Service Level Agreement (SLA) between SSS and LANDBANK, the state-run Bank’s ATM payroll facility will service the direct crediting of salary, allowances, bonuses, and provident fund and loan proceeds to the LANDBANK accounts of SSS employees. SSS President and CEO Rolando L. Macasaet and LANDBANK President and CEO Lynette V. Ortiz sealed the partnership on 23 August 2023 at the SSS Main Office in Quezon City. They were joined by SSS Executive Vice President Elvira G. Alcantara-Resare and Vice President Nympha M. Ragel, alongside LANDBANK officials Executive Vice President Liduvino S. Geron, Executive Vice President Alex A. Lorayes, and Senior Vice President Leila C. Martin. “LANDBANK is privileged to service the payroll requirements of SSS and make banking more convenient for their employees through our extensive network nationwide. We bring to the table our expertise in facilitating payroll disbursements for over 2 million government employees,” said LANDBANK President Ortiz. SSS employees can transact and withdraw cash from LANDBANK’s 606 branches and branch-lite units and 2,941 ATMs, as well as 2,699 ATMs of 7-Eleven convenience stores in selected areas in the country. They can likewise conveniently complete fund transfers and bills payment transactions online using the LANDBANK Mobile Banking App and Link.BizPortal, the Bank’s web-based payment channel. During the same event, LANDBANK and SSS also signed a Memorandum of Understanding (MOU) for the efficient collection of voluntary SSS contributions from the Bank’s employees. Under the MOU, LANDBANK will automatically deduct monthly SSS payments from the payroll of Bank personnel who opted for voluntary contribution, and directly remit to SSS. LANDBANK is celebrating its 60th anniversary, representing six decades of uplifting lives, empowering communities, and serving the nation — all in pursuit of an inclusive and sustainable economy.
LEARN MORE
LANDBANK joins collab for centralized gov’t payment platform
National Treasurer Rosalia V. De Leon (leftmost), DICT Undersecretary David L. Almirol, Jr. (3rd from left), and LANDBANK President and CEO Lynette V. Ortiz (5th from left) lead the signing of a Memorandum of Agreement (MOA) for the electronic Government Payment Platform (eGovPay), with witnesses Deputy Treasurer Eduardo Anthony G. Mariño III (2nd from left), DICT Bureau Director June Vincent Manuel Guadan (4th from left), and LANDBANK Senior Vice President Leila C. Martin (rightmost) on 15 August 2023 in Manila. The Land Bank of the Philippines (LANDBANK) has joined hands with the Department of Information and Communications Technology (DICT) and Bureau of the Treasury (BTr) to develop a single platform for all government payments. National Treasurer Rosalia V. De Leon, DICT Undersecretary David L. Almirol, Jr., and LANDBANK President and CEO Lynette V. Ortiz led the signing of a Memorandum of Agreement (MOA) on 15 August 2023 in Manila to formalize the collaboration for the electronic Government Payment Platform (eGovPay). "We are proud to contribute to this ground-breaking initiative and lay the foundations for a centralized digital payment gateway. We are set to revolutionize how the whole government handles payments, and more importantly, provide convenience to fellow Filipinos than ever before," said LANDBANK President Ortiz. The eGovPay platform introduces a secure and centralized gateway that simplifies payment acceptance for government agencies. The platform is designed to enhance the government’s data management and reporting capabilities, slash costs tied to manual operations, and streamline the reconciliation process. Under the partnership, LANDBANK assumes the role of depository and financial settlement bank for eGovPay. The DICT will act as user and application administrator to onboard Payment Service Providers (PSP) and Government institutions to the eGovPay, and will ensure the smooth integration of different payment channels to the systems of LANDBANK. Meanwhile, the BTr will be responsible for ensuring full compliance of LANDBANK and DICT-covered agencies to the Treasury Single Account Framework, particularly on the collection and remittance of internal revenue taxes, custom duties and other national collections. This tripartite collaboration follows the development agenda of President Ferdinand R. Marcos Jr. to prioritize digitalization and promote digital payment solutions for the efficient delivery of public service. The eGovPay will also support the Adoption of Digital Payments for Government Disbursement and Collections pursuant to Executive Order (EO) No. 170, and Republic Act No. 11032 which promotes the Ease of Doing Business and Efficient Delivery of Government Services. This initiative likewise complements LANDBANK’s own phygital strategy towards improving access to reliable, relevant, and convenient financial services by continuously expanding touchpoints nationwide while developing more responsive digital channels. LANDBANK is celebrating its 60th anniversary this month, representing six decades of uplifting lives, empowering communities, and serving the nation — all in pursuit of an inclusive and sustainable economy.
LEARN MORE
