Be in the know of the latest news and updates about LANDBANK.
Rising from poverty thru rice trading: Leyte couple grows success with LANDBANK’s support
Spouses Leonilo and Bella Basister from Mayorga, Leyte grew their palay trading business with support from LANDBANK, now running two rice mills that produce more than 100,000 sacks of milled rice per year. MAYORGA, Leyte – As someone who was not able to pursue higher education due to financial constraints, Leonilo “Kiloy” Basister only had limited opportunities to make ends meet, especially after getting married at the young age of 21. With a seed money of only P270, Kiloy initially ventured into selling fish and live piglets in the market, while taking side jobs in between. He also borrowed resources from relatives and friends to expand his capital. After years of hard work, he and his wife, Bella, earned enough to start the L.K. Basister Rice and Palay Trading in 1998, with Kiloy supervising the overall operations and his wife handling all financial aspects of the business. From buying and selling only about 17 sacks of palay, the couple saw their business expanding year after year, until they were challenged to look for local rice mill operators that can accommodate their growing stocks. This pushed them to establish their own rice mill in 2010 that can process up to 30,000 sacks per year. Kiloy and Bella have been managing the L.K. Basister Rice and Palay Trading over the years, with the former supervising the overall operations and the latter handling the financial side of the business. The big break for their business came in 2012 when Kiloy and Bella secured a P3-million credit line from the Land Bank of the Philippines (LANDBANK). With a bigger working capital, the couple was able to buy more palay from local farmers in Mayorga and neighboring towns, providing a sure market for their produce. “Malaking tulong talaga ang LANDBANK sa paglago ng aming business at kung nasaan kami ngayon. Nagkaroon kami ng mas malaking pondo na nagagamit para makabili ng palay na gigilingin namin sa buong taon. Dahil dito ay patuloy na tumaas ang aming kita at talagang nakaahon kami sa hirap,” Kiloy shared. Through the Bank’s constant support over the years, the L.K. Basister Rice and Palay Trading has now grown into a multi-million enterprise, producing more than 100,000 sacks of milled rice per year. And as their profits steadily increased, the couple’s credit line with LANDBANK likewise expanded to P100 million due to their good credit standing. Kiloy and Bella are currently running two rice mills with whitener and mist polisher, complemented by two warehouses and 14 mechanical dryers. They also have 14 delivery equipment for logistics support, and an outlet in Tacloban City to facilitate the disposal of the milled rice. Aside from contributing to the town’s food security, the business has been providing employment opportunities to 70 local residents involved in drying, milling, hauling, sacking and delivery of products. An additional workforce is also employed during harvest season when there is an expected higher volume of production. The couple’s business also provides employment opportunities for about 70 local residents involved in drying, milling, hauling, sacking and delivery of the milled rice. More than anything else, Kiloy and Bella now enjoy a comfortable life with their six children. They are able to send their kids to school, with four of them already graduated from college and are now helping in running the family business. Despite all their success, the couple is not taking it easy, as they continue to manage their business with the same persistence as when they were starting. They have also expanded and diversified into other fields such as poultry farming. It was indeed a long journey for Kiloy and Bella, and they remain thankful to LANDBANK for pushing them to their limits as entrepreneurs. “Ang masasabi ko sa mga gustong mag negosyo ay magtiyaga lang kayo. Mangutang kung kailangan basta marunong magbayad at alam ninyo kung saan ito gagamitin,” Kiloy said. LANDBANK has been extending financial support to micro, small and medium enterprises (MSMEs), as part of its commitment to assist key economic sectors in building stronger and more inclusive local communities. As of end-June 2023, the Bank’s outstanding loans to the MSME sector reached P49.5 billion for the benefit of over 6,100 borrowers nationwide.
LEARN MORE
LANDBANK vows full support to MSMEs as loans reach P50-B
LANDBANK Vice President Esperanza N. Martinez (4th from left) joins fellow financial institution leaders in support of the country’s local businesses during the National MSME Summit 2023 in Manila. In celebration of the National Micro, Small and Medium Enterprise (MSME) Week, the Land Bank of the Philippines (LANDBANK) reaffirms its full support to the MSME sector through the provision of accessible and affordable financing. As of end-June 2023, the state-run Bank saw its outstanding loans to MSMEs reach P49.5 billion benefitting over 6,100 borrowers in support of business expansion and acquisition of fixed assets, among others. “LANDBANK recognizes the crucial role of MSMEs in advancing economic development and job generation. We will continue to work with various government partners to grow our loan portfolio for the sector and open more opportunities for our local entrepreneurs,” said LANDBANK President and CEO Lynette V. Ortiz. LANDBANK Vice President Esperanza N. Martinez discussed the Bank’s efforts to provide MSMEs wider access to responsive financing at the National MSME Summit 2023 organized by the MSME Development Council on 18 July 2023. On top of its regular loan facilities, LANDBANK has been offering special lending programs dedicated to the needs of MSMEs and aspiring entrepreneurs. Under the I-RESCUE (Interim REhabilitation Support to Cushion Unfavorably affected Enterprises by COVID-19) Lending Program, LANDBANK provides credit and loan restructuring assistance to MSMEs severely affected by the COVID-19 pandemic under more flexible terms and conditions. The Bank launched the I-RESCUE Lending Program at the onset of the pandemic in 2020 and has raised to P60 billion the available loanable fund to accommodate more borrowers. The program is available until the end of the year. LANDBANK also extends financial assistance to women-owned or -led MSMEs by financing working capital, construction or renovation of buildings and facilities related to business operations, as well as purchase orders from the borrower’s clients. Overseas Filipino workers (OFWs) are also supported to pursue business opportunities, with LANDBANK partnering with the Overseas Workers Welfare Administration (OWWA) in offering loanable funds for working capital or acquisition of fixed assets, among others. The Bank is likewise financing new and existing franchisees for new business ventures or expansion of existing businesses, covering funding for working capital, fixed asset acquisition, and capital expenditures. In partnership with the Department of Science and Technology's Technology Application and Promotion Institute (DOST-TAPI), LANDBANK also offers credit assistance for Filipino inventors, MSMEs and large enterprises to help commercialize their new and innovative technologies. Interested borrowers may contact the nearest 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.
LEARN MORE
Victorias LGU, LANDBANK partner to boost digitalization effort
Victorias City Mayor Javier Miguel Benitez (2nd from right), LANDBANK Victorias Branch Manager Rosie Cuadernal (leftmost), SPIDC Vice President Rommel Cunanan (3rd from right), and Victorias City Treasurer Maria Rosielyn Gustilo (rightmost) show the formal agreement to digitalize the payment of local government taxes and fees. VICTORIAS, Negros Occidental – The City Government of Victorias signed a Memorandum of Agreement with the Land Bank of the Philippines (LANDBANK) in line with efforts to digitalize tax payment collection and enhance public service delivery in the municipality. The partnership formalizes the integration of the LANDBANK Link.BizPortal with the Victorias LGU's Web Service Portal to provide residents convenience in paying for fees related to business permits, real properties, resorts and public market rentals, among other local dues. Victoria LGU's Web Service Portal is managed by the Systems & Plan and Integrator and Development Corporation (SPIDC). "LANDBANK fully supports the City Government of Victorias in their continued journey towards digitalization. This collaboration is a testament to the Bank's unwavering commitment to collaborate with local government units to provide innovative digital products and services to the public," said LANDBANK President Lynette V. Ortiz. The MOA signing was completed along the sidelines of the public launch of the LGU’s Web Service Portal led by Victorias City Mayor Javier Miguel Benitez, Victorias City Treasurer Maria Rosielyn Gustilo, SPIDC Vice President Rommel Cunanan, and LANDBANK Victorias Branch Manager Rosie Cuadernal. The Victorias LGU has been a valued client of LANDBANK since 1996. Apart from the Link.BizPortal, it also avails of various LANDBANK digital facilities including RFID ATM Payroll, Electronic Salary Loan (eSL), the Enhanced Human Resource Information System (HRIS), and the weAccess, the Bank’s internet banking facility for institutional clients. LANDBANK is offering various digital products and services to LGUs nationwide, in support of their compliance to Executive Order 170 or the Adoption of Digital Payments for Government Disbursement and Collections. The LANDBANK Link.BizPortal is likewise in line with the national government’s call for a National Retail Payment System, which also supports the “eGov Pay” payment solution of the Bangko Sentral ng Pilipinas (BSP).
LEARN MORE
LANDBANK, GSIS ink data-sharing deal to upgrade services
GSIS President and General Manager Jose Arnulfo “Wick” A. Veloso (right) and LANDBANK President and CEO Lynette V. Ortiz (left) lead the signing of the Data Sharing Agreement on 17 July 2023, to make financial services more efficient and convenient for GSIS members and pensioners. In line with the National Government’s digitalization drive, the Land Bank of the Philippines (LANDBANK) and the Government Service Insurance System (GSIS) signed a Data Sharing Agreement to provide a more efficient and seamless banking experience to GSIS members. Under the Agreement, GSIS will share its members’ data to LANDBANK to enhance the delivery of banking services, which includes real-time crediting of benefit claims, loans, and other proceeds for over 1.5 million GSIS members who maintain accounts with the Bank. The collaboration will likewise allow members of the state pension fund to receive their LANDBANK Visa Debit Cards within the same day of card enrolment at the GSIS Main Office in Pasay City. Through the LANDBANK Cards, members will be able to conveniently receive and withdraw their claims and proceeds from GSIS. “This Agreement further builds upon the partnership of LANDBANK and GSIS to streamline processes and enhance operational efficiency for the benefit of GSIS members. We fully support the digitalization journey of GSIS by attending to their banking requirements with innovative solutions,” said LANDBANK President and CEO Lynette V. Ortiz. The signing of the Agreement on 17 July 2023 was led by LANDBANK President Ortiz and GSIS President and General Manager Jose Arnulfo “Wick” A. Veloso. They were joined by GSIS Vice President and Data Protection Officer Jonathan Pineda and LANDBANK senior officers, including Executive Vice President Liduvino S. Geron, Senior Vice President Ramon R. Monteloyola, GSIS Branch Head Manuel A. Dimalaluan, and Data Protection Officer Atty. Rhys S. Abundabar. “With this Agreement, our stakeholders are assured that their private, confidential information are safe and secure with us. Makatitiyak sila na pangangalagaan natin ang kanilang data privacy at protektado ang kanilang sensitive information kasama na ang kanilang financial data,” said GSIS President Wick Veloso. Also covered by the Data Sharing Agreement are other pipeline projects utilizing LANDBANK’s digital banking products for GSIS-related transactions, including the integration of LANDBANK to GSIS Touch – the official mobile application of GSIS. LANDBANK and GSIS are also working together to accommodate online payments for rent and other fees under the GSIS Ginhawa For All Lease with Option to Buy (GFAL LWOB) Program through the LANDBANK Link.BizPortal, the Bank’s web-based payment facility.
LEARN MORE
LANDBANK helps cushion power bill hike for DavSur, DavOcc consumers
LANDBANK Senior Vice President Charlotte I. Conde (5th from right), together with other Bank officials, recently paid a courtesy visit to DASURECO Board President Al D. Castillon (6th from right) and General Manager Engr. Jerry D. Morastil (4th from right) to express the Bank’s continued support to the cooperative. The Land Bank of the Philippines (LANDBANK) has extended financial support to a Davao del Sur-based electric cooperative to provide financial relief to over 230,000 households and consumers from Davao del Sur and Davao Occidental in paying their electricity bills incurred during the dry season. Under the LANDBANK ANTI BILL SHOCK Lending Program, the Davao del Sur Electric Cooperative, Inc. (DASURECO) has been granted a credit line to augment its working fund in the last summer months, when a spike in power consumption and distribution expenses normally occurs due to rising temperatures. The credit line provides DASURECO with the financial flexibility to spread out the incremental increases in their consumers’ billings by up to nine months without passing off the borrowing cost to consumers. This arrangement helps its member-consumers mitigate the impact of high electricity rates by paying through installment or on a staggered basis. “LANDBANK recognizes the vital role of electric cooperatives and distribution utilities in energizing the country’s economic expansion. We will further support the energy sector towards ensuring accessible and affordable energy for all, including funding projects that utilize renewable sources of energy,” said LANDBANK President and CEO Lynette V. Ortiz. The ANTI BILL SHOCK Lending Program, launched by the state-run Bank in April 2023 with an initial fund of P1.5 billion, stands for Assistance to Narrow and Trim down the Incremental power cost increase via Bridge financing Initiative of LANDBANK to Lower and Spread out HOt summer-triggered monthly Consumption on Konsumers’ Electricity. The Energy Regulatory Commission (ERC) previously expressed its support to the implementation of the LANDBANK program in an effort to mitigate the impact of high electricity rates to consumers. “This is truly one of the best examples of what we can accomplish together adopting a whole-of-government approach: those of us in energy sector working hand-in-hand with our counterparts in the private financing sector in finding solutions to provide some much-needed relief for our consumers,” said ERC Chairperson and CEO Atty. Monalisa C. Dimalanta. LANDBANK is still processing and accepting loans under the ANTI BILL SHOCK Lending Program to help more households better manage their electricity bills, especially those who cannot afford to immediately pay their bills in full. Eligible power distributors may loan up to 80% of the incremental increase on their working capital requirements during the summer months but not to exceed the repayment capacity of the distribution utilities or three times the average billings of its power suppliers. “The extensive experience and expertise of LANDBANK in the banking and financial sectors, coupled with longstanding reputation of DASURECO as a reliable electricity provider, make the partnership a promising endeavor,” said DASURECO Board President and Philippine Association of Board of Directors of Rural Electric Cooperatives (PHABDREC) National President Al D. Castillon. “I am confident that our combined efforts will have a positive impact on the lives of the member-consumer-owners and contribute to the overall progress and prosperity of Davao del Sur and Davao Occidental,” he added. Prior to availing of a credit line under the ANTI BILL SHOCK Program, DASURECO has been providing collection extensions or similar concessions to its member-consumers affected by catastrophic events, such as earthquakes and the COVID-19 pandemic. As an electric cooperative and distribution utility, DASURECO delivers reliable electricity to its consumer-members through affordable rates. The co-op is among the National Government’s partners for the Rural Electrification Program, particularly in the provinces of Davao del Sur and Davao Occidental. “We are very thankful to LANDBANK for extending quality services and for always being there to assist us. With the ANTI BILL SHOCK Program, we are able to help more of our member-consumers in mitigating the impact of higher electricity bills in the previous months without impairing the co-op’s liquidity position,” said DASURECO General Manager Engr. Jerry D. Morastil. DASURECO has been a LANDBANK borrower since 2021 and maintains a good credit standing with the Bank. Interested borrowers of the ANTI BILL SHOCK Program may contact the nearest 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.
LEARN MORE
LANDBANK delivers RCEF-RFFA aid to Iloilo farmers
LANDBANK Miag-ao Branch distributes cash cards loaded with P5,000.00-worth of cash assistance to 2,206 farmer beneficiaries in Tigbauan, Iloilo under the RCEF-RFFA Program. In stride with advancing agricultural development, the Land Bank of the Philippines (LANDBANK) recently distributed cash cards to farmer beneficiaries under the Rice Competitiveness Enhancement Fund-Rice Farmers Financial Assistance (RCEF-RFFA) Program in Tigbauan, Iloilo. In partnership with the Department of Agriculture (DA), the LANDBANK Miag-ao Branch distributed Intervention Monitoring Cards (IMCs) loaded with P5,000.00-worth of cash assistance to 2,206 farmer-beneficiaries. As of June 2023, the Bank has already distributed LANDBANK IMCs to a total of 235,145 beneficiaries nationwide, with the rest of eligible beneficiaries set to receive their financial assistance until the end of August this year. "LANDBANK remains at the forefront of providing timely support to small farmers all over the country. Together with the DA, we will continue to ramp-up the distribution of cash cards to help increase agricultural production and income," said LANDBANK President and CEO Lynette V. Ortiz. The RCEF-RFFA Program aims to offer vital support to smallholder rice farmers registered under the Registry System for Basic Sectors in Agriculture (RSBSA), who are cultivating rice lands measuring two hectares and below. LANDBANK serves as the disbursing arm of the RCEF-RFFA Program, wherein eligible farmers receive cash assistance of P5,000.00 as part of the implementation of the Rice Tariffication Law (RTL).
LEARN MORE
LANDBANK doubles daily amount limit of fund transfers
In line with providing accessible and convenient digital services, the Land Bank of the Philippines (LANDBANK) has doubled the daily aggregate amount limit of fund transfers via InstaPay from P50,000.00 to P100,000.00, effective 14 July 2023. LANDBANK clients can transfer up to P50,000.00 per transaction via Instapay, and now as much as P100,000.00 in total per day. The state-run Bank recently reduced its transaction rate for fund transfer via InstaPay from P25 to P15 starting from 15 June 2023. “We continue to extend the limits of our digital banking solutions to meet the growing needs of our diverse client base. LANDBANK is driven to promote greater digital adoption to help accelerate financial inclusion in the country and build a cashless society,” said LANDBANK President and CEO Lynette V. Ortiz. The Bank also removed the daily transaction limit for both fund transfer and bills payment, allowing customers to perform an unlimited number of transactions per day. The previous daily aggregate amount limit of P50,000.00 for bills payment facilitated through the LANDBANK iAccess has likewise been removed. LANDBANK is currently working on providing depositors the ability to set their own fund transfer and bills payment limits for added flexibility and convenience. Meanwhile, inter-bank fund transfers using LANDBANK and Overseas Filipino Bank (OFBank) accounts remain free of charge. The new fund transfer and bills payment policies apply to transactions facilitated via LANDBANK’s retail digital banking channels, the LANDBANK Mobile Banking App (MBA) and iAccess. For the first five months of 2023, the two digital platforms have facilitated a combined 66.7 million transactions with value of P123.4 billion
LEARN MORE
LANDBANK, General Trias ink partnership for digital payments
(standing) General Trias City Mayor Luis A. Ferrer IV (4th from right), Vice Mayor Jonas Glyn P. Labuguen (5th from right), and LANDBANK Cavite City Branch Assistant Vice President Edgar Deligero (3rd from right), together with other local officials and LANDBANK representatives, celebrate the new partnership for the use of the LANDBANK Link.BizPortal at the General Trias City Hall. GENERAL TRIAS, Cavite – The City Government of General Trias has partnered with the Land Bank of the Philippines (LANDBANK) for the safe, fast, and convenient collection of local fees for business permits and real estate taxes through the Bank’s web-based payment channel. Through the LANDBANK Link.BizPortal, residents can now settle fees, dues, and charges to the local government unit (LGU) online at their convenience with just a few clicks on their computers or mobile devices. “Our collaboration with the City of Government of General Trias allows for convenient and hassle-free payments. LANDBANK will continue to support local government partners in delivering innovative and responsive public service,” said LANDBANK President and CEO Lynette V. Ortiz. General Trias City Mayor Luis A. Ferrer IV, Vice Mayor Jonas Glyn P. Labuguen, and LANDBANK Cavite City Branch Assistant Vice President Edgar Deligero, led the signing of a Memorandum of Agreement for the use of the LANDBANK Link.BizPortal, together with other local officials and LANDBANK representatives at the General Trias City Hall. “Being an advocate of Ease of Doing Business and efficient delivery of government services, this program with LANDBANK will enable the city to offer quality service to its constituents,” said General Trias Mayor Ferrer. 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 three months of the year, the LANDBANK Link.BizPortal has already facilitated 2.18 million transactions amounting to P3 billion in value.
LEARN MORE
LANDBANK ensures success of new law writing off P57.74-B agrarian debt
President Ferdinand R. Marcos, Jr. (center) signs into law the New Agrarian Emancipation Act on July 7, 2023, with Agrarian Reform Secretary and LANDBANK Board Member Conrado M. Estrella III (8th from right) and other DAR officials, together with LANDBANK President and CEO Lynette V. Ortiz (3rd from right), Executive Vice President Alex A. Lorayes (4th from right), and Vice President Atty. Marife Lynn O. Pascua (2nd from right) witnessing the event. (photo courtesy of DAR). The Land Bank of the Philippines (LANDBANK) ensures that it will be working closely with government partners for the seamless and immediate implementation of the new law that frees agrarian reform beneficiaries (ARBs) nationwide from agrarian debts, in line with efforts to boost and modernize the agriculture sector. The National Government is writing-off land amortizations managed by LANDBANK amounting to P57.74 billion as of 30 June 2023—effectively relieving over 649,000 ARBs tilling 1.17 million hectares of land debt. The condonation is part of the landmark Republic Act No. 11953 or the New Agrarian Emancipation Act signed by Philippine President Ferdinand R. Marcos, Jr. on 7 July 2023. Of the P57.74 billion, the National Government will condone outright P14.56 billion in principal loans of over 263,000 ARBs upon the effectivity of the law. The Department of Agrarian Reform (DAR), in coordination with LANDBANK, will also expedite the processing of the remaining P43.17 billion principal loans of over 385,000 ARBs. “We are proud to be part of this landmark initiative of the Marcos Administration to free farmers from debt and help them start anew. LANDBANK will likewise continue to pour investments and extend support initiatives for farmers nationwide to boost their productivity and income,” said LANDBANK President and CEO Lynette V. Ortiz. The New Agrarian Emancipation Act condones all loans, including interests, penalties, and surcharges incurred by ARBs from land awarded to them under Presidential Decree 27 (Tenant Emancipation Decree issued in 1972), Republic Act No. 6657 (Comprehensive Agrarian Reform Law of 1988), and Republic Act No. 9700 (An Act strengthening the CARP and extending the acquisition and distribution of agricultural lands, issued in 2009). The DAR will issue the implementing rules and regulations of the new law, in coordination with the Presidential Agrarian Reform Council Executive Committee (PARC ExCom) and with the technical expertise of LANDBANK, within 60 days from the issuance of the Act. For his part, Agrarian Reform Secretary and LANDBANK Board Member Conrado M. Estrella III lauded Congress for the immediate passage of the law, and expressed gratitude to LANDBANK for its consistent support to ARBs over the years. “Nagpapasalamat din po kami sa mga taga-LANDBANK sapagkat sila po ay very active na nagbibigay po ng credit assistance sa ating mga ARBs,” he said. LANDBANK has extended P2.7 billion in loans to 2,356 individual ARBs and 469 ARB cooperatives and farmers’ associations nationwide. Apart from credit assistance, LANDBANK also provides financial literacy and capability-building seminars to make sure borrowers are equipped with basic financial knowledge to manage their finances and boost their income.
LEARN MORE
LANDBANK, BDO lead P5-B syndicated facility to empower underserved women
ASA President and CEO Kamrul H. Tarafder (4th from left), LANDBANK President and CEO Lynette V. Ortiz (5th from left), and BDO Capital President Eduardo V. Francisco (rightmost), alongside other local bank leaders, lead the ceremonial signing for ASA’s P5-billion syndicated corporate notes facility on 05 July 2023 in Pasig City. The Land Bank of the Philippines (LANDBANK) has joined hands with the BDO Capital & Investment Corporation (BDO Capital) in arranging a P5-billion syndicated corporate notes facility with other domestic banks, to support ASA Philippines Foundation, Inc.’s (ASA) credit expansion for underserved women. The state-run Bank has a significant participation in the syndicated transaction, the proceeds of which will be used for ASA’s working capital to reach and empower more women in the country through the provision of accessible financing. “We, at LANDBANK, welcome this timely opportunity to advance gender equality and women empowerment. Through our collective efforts and joint resources, we can foster an equal playing field for all – regardless of gender – to further boost economic productivity and growth,” said LANDBANK President and CEO Lynette V. Ortiz. ASA’s five-year corporate notes issuance was classified as the first-ever Gender Bonds in the country, as certified by social bond second-party opinion provider DNV and registered with the Securities and Exchange Commission (SEC). The issuance of the first-of-its-kind bonds was launched on 05 July 2023 in Pasig City, following a ceremonial signing between ASA President and CEO Kamrul H. Tarafder, LANDBANK President and CEO Ortiz, BDO Capital President Eduardo V. Francisco, and other industry leaders for ASA’s notes facility. Joining them were Bangko Sentral ng Pilipinas (BSP) Deputy Governor Bernadette Romulo-Puyat, ASA Board Member Eric L. Gotuaco, and other development partners. LANDBANK Investment Banking Group and BDO Capital jointly arranged the syndicated transaction, with RCBC Trust and Investment Group serving as the Security Trustee and Notes Facility Agent. Other lenders to the transaction include the BDO Unibank, Inc., Philippine National Bank, Bank of the Philippines Islands, and Security Bank. LANDBANK has been supporting ASA’s expansion since 2014, as part of its steadfast support to microfinance organizations in the country. The new partnership likewise complements the state-run Bank’s efforts to provide ample opportunities for women entrepreneurs.
LEARN MORE
LANDBANK grants P700-M loan for Davao del Sur’s dev’t projects
(front) Davao del Sur Governor Yvonne Roña Cagas (4th from right) and LANDBANK Senior Vice President Charlotte I. Conde (5th from right) lead the signing of a P700-million loan agreement to fund various development projects in the Province of Davao del Sur. (Photo courtesy of Davao del Sur PIO) DAVAO DEL SUR – The Land Bank of the Philippines (LANDBANK) is extending a P700-million loan to the Provincial Government of Davao del Sur to finance the province’s development projects in health, tourism, infrastructure, and digitalization. The Provincial Government and LANDBANK recently signed a loan agreement to formalize the partnership. It was led by Governor Yvonne Roña Cagas and LANDBANK Senior Vice President Charlotte I. Conde, and witnessed by other local and Bank officials. “LANDBANK is working closely with Davao del Sur and other local government partners nationwide for the rollout of meaningful projects to promote economic activities. Our support to local communities will further drive our broader thrust of serving the nation in support of the National Government’s inclusive development agenda,” said LANDBANK President and CEO Lynette V. Ortiz. Of the total loan amount, P215 million will be allocated to upgrade the Davao del Sur Provincial Hospital (DSPH), including the acquisition of various medical, dental and hospital laboratory equipment for enhanced delivery of healthcare services. The planned expansion and improvements will effectively upgrade the DSPH from a Level II to a Level III Tertiary hospital, with an increased bed capacity of 200 and a three-story building dedicated as a birthing facility. Complementing the Provincial Government’s bid for enhanced healthcare services is the establishment of a Bio-Medical Waste Management System to be funded through P40 million from the approved loan. The system will be designed to comply with the strictest environmental and bacteriological reduction standards. Meanwhile, some P220 million will also finance the completion of the Gov. Douglas Ra. Cagas Sports Complex and Business Center in Digos City. The project includes the construction of a rubberized track and field oval, basketball, volleyball, and badminton courts, and improvement of the existing grandstand, among others. Another P125 million will be allocated to purchase brand-new heavy equipment and service vehicles, to be used in the maintenance and rehabilitation of roads, bridges and other infrastructure projects across the province for improved mobility of people and agricultural produce. The remaining P100 million will be dedicated to the establishment of the Revenue Administration and Management System with Integrated Financial Management Information System, aimed to automate the Provincial Government’s transactions and services. The system is also expected to further advance the local government’s efforts in the delivery of efficient public service while promoting transparency and accountability. LANDBANK continues to extend necessary credit assistance to local government units (LGUs) to spur inclusive and sustainable economic development. As of end-April 2023, the state-run Bank’s outstanding loans to LGUs nationwide hit P95.12 billion.
LEARN MORE
New LANDBANK ATMs drive financial inclusion in Guimaras
Residents from the remote towns of Sibunag and San Lorenzo now enjoy easy access to their cash needs with the newly-installed LANDBANK ATMs in Sibunag Municipal Hall in Brgy. Dasal (right photo) and San Lorenzo Municipal Compound in Brgy. Cabano (left photo). GUIMARAS – In line with its commitment of bringing convenient and reliable banking services closer to more Filipinos, the Land Bank of the Philippines (LANDBANK) has ramped up expansion efforts in this island province with the installation of two new automated teller machines (ATMs) in the far-flung towns of Sibunag and San Lorenzo. The new LANDBANK touchpoints are strategically located at the Sibunag Municipal Hall in Brgy. Dasal and San Lorenzo Municipal Compound in Brgy. Cabano to primarily service residents from 25 combined barangays, which includes farmers, fishers, local government employees, teachers, and other depositors. Over 7,600 beneficiaries of the Conditional and Unconditional Cash Transfer (UCT) programs of the Department of Social Welfare and Development (DSWD) will also benefit from faster and more efficient payout services through the new ATMs. “Our continued expansion in remote and underserved areas advances our continuing thrust towards financial inclusion. LANDBANK will remain focused on reaching and serving all our customers nationwide, as we firm up our support in pushing the National Government’s inclusive development agenda,” said LANDBANK President and CEO Lynette V. Ortiz. Jenefer Salmorin, a Pantawid Pamilyang Pilipino Program (4Ps) beneficiary from Sibunag, said that the availability of a LANDBANK ATM in their town makes claiming of financial assistance from the National Government more convenient and accessible. This helps DSWD beneficiaries like her, along with other residents, to save time and money from traveling at least 25 minutes to the Municipality of Jordan and spending P50.00 for a special ride just to withdraw their financial assistance. For Sibunag Mayor Annabelle V. Samaniego, the installation of the new LANDBANK ATM in the town also provides improved access to formal financial services and promotes financial literacy among residents. “This has lessened our consumed time, money, and effort just to withdraw cash we needed. On behalf of the people of the Municipality of Sibunag, I am expressing my sincerest gratitude and appreciation to LANDBANK as our genuine partner for the development of the municipality,” said Mayor Samaniego. LANDBANK is the only bank present in all five municipalities of the Province of Guimaras, servicing the banking requirements of residents through the Guimaras Branch in Brgy. San Miguel in Jordan, with 10 ATMs, one cash deposit machine (CDM), and seven Agent Banking Partners (ABPs) located throughout the province. In support of the province’s digitalization efforts, the Bank has also successfully onboarded the provincial government and all municipal governments in its Link.BizPortal facility, which allows residents to pay for local dues online without the need to physically visit the LGU offices. As of end-April 2023, LANDBANK has 606 branches and branch-lite units, 58 lending centers, 2,920 ATMs, 224 CDMs, and 1,743 ABP POS cash-out terminals, which are spread strategically across all 82 provinces of the country.
LEARN MORE
