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LANDBANK, Malasiqui partner to advance digital payments in Pangasinan
(front row) Malasiqui Mayor Noel Anthony M. Geslani (center) with LANDBANK Senior Vice President Ma. Belma T. Turla (2nd from right) and Assistant Vice President Emelyn M. Justiniano (leftmost), among other Bank officials and local partners, launch Malasiqui’s upgraded online services on June 8, 2023, which will allow residents and local business owners to process and pay for their real property taxes and business permits anytime and anywhere. MALASIQUI, Pangasinan – Residents and business owners from this 1st class municipality can now settle their payments for real property taxes and business permits faster and more conveniently through the online payment facility of the Land Bank of the Philippines (LANDBANK). The Municipal Government of Malasiqui has partnered with the state-owned Bank for the integration of the LANDBANK Link.BizPortal to its website, where constituents can now access the local government’s online services. Through the Link.BizPortal, customers can complete payments for local transactions safer and easier online without having to physically visit the municipal hall. Malasiqui Mayor Noel Anthony M. Geslani alongside LANDBANK Senior Vice President Ma. Belma T. Turla and Assistant Vice President Emelyn M. Justiniano led the launch of Malasiqui’s new online services on 8 June 2023 at the town’s Municipal Hall. They were joined by Malasiqui Vice Mayor Alfe M. Soriano, Department of Trade and Industry (DTI) Pangasinan Provincial Director Natalia B. Dalaten, and LANDBANK San Carlos (Pangasinan) Branch Head Menchie C. Mencias. “LANDBANK continues to collaborate with local government units and other government partners to provide customers with safe and secure online payment options. This forms part of our push for greater financial inclusion, while promoting transparency and efficiency in the delivery of meaningful and responsive public service,” said LANDBANK President and CEO Lynette V. Ortiz. LANDBANK has now onboarded a total of 22 local government units (LGUs) in Pangasinan to the Link.BizPortal, to provide efficient and convenient digital payment services for Pangasinenses. These LGUs include the Provincial Government of Pangasinan and the City Governments of Alaminos, Dagupan, San Carlos and Urdaneta. “Itong launching po natin ngayon ay napakahalaga dahil kahit saan, kahit anong oras ay pwede ng makapagbayad ng fees,” said Mayor Geslani, adding that the newly launched online services will help promote ease of doing business in Malasaqui, while helping generate more income for the municipal government. The Link.BizPortal is LANDBANK’s web-based payment channel that allows clients to pay for products and services online to over 1,250 government and private partner merchants nationwide. As of April 2023, LANDBANK has recorded nearly 2.8 million transactions amounting to P4.2 billion through the Link.BizPortal. LANDBANK’s offering of digital banking solutions advances the National Government’s digital and financial inclusion agenda in line with its expanded mandate of serving the nation.
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Capiz developer taps LANDBANK for growth, expansion
The 670-hectare township development of Pueblo de Panay, Inc. (PDPI) in Roxas City, Capiz steers local economic activities and generates employment opportunities for almost 10,000 locals. The construction and improvement of various projects within the property are supported by LANDBANK, which has been PDPI’s development partner since 2017. (Photo courtesy of PDPI) ROXAS CITY, Capiz – Nestled amid the lush greenery of a tranquil rural landscape is a 670-hectare mixed-used township development of the Pueblo De Panay, Inc. (PDPI) that has been a contributing pillar to Roxas City’s bid for inclusive development. Home to various commercial establishments, agro-industrial zones, and endearing tourist attractions—with a residential component that integrates Capiznons’ traditional lifestyle with contemporary living—the PDPI mega township development steers local economic activities and generates average foot traffic of 60,000 alongside employment opportunities for almost 10,000 locals. Before becoming one of the largest real estate developers in the region, the journey of PDPI started with Ong Family’s humble beginnings in 2001 having only P1.7 million in capital. Today, the family-led PDPI has grown into a developer of several successful horizontal and vertical residential and commercial projects, providing housing and business opportunities to all market segments in Roxas City. Recently, PDPI ramped up improvements in its property to accommodate key locators, including business process outsourcing (BPO) companies, restaurants, hotels, banks, government offices, and other firms that provide local employment. As with any business expansion, the PDPI needed financial backing for its plans and projects to fruitfully materialize. They turned to the Land Bank of the Philippines (LANDBANK) in 2017, and secured funding for the construction of a seven-story BPO building and fish processing plant in the township. The six-story BPO building (left) and fish processing plant (right) in Pueblo de Panay are among the first developments financed by LANDBANK in support of PDPI’s expansion plan. LANDBANK likewise extended financing support for site development of a 7.4-hectare IT Park that can host up to 10 BPO buildings; construction of a five-story building to be occupied by a private educational institution; and concreting of roads across the development, which include drainage works and electrical and water lines. “LANDBANK and PDPI share the same vision of promoting countryside development and inclusive growth. It’s about connectivity: We understand them, and they understand us. We are lucky to have LANDBANK as our reliable partner,” said PDPI Chief Operations Officer Lex Lavin. Pueblo de Panay has transformed a once undeveloped parcel of land into a master-planned township and viable investment destination designed by the Singaporean firm Surbana Jurong. The township has become a bustling business hub where people can live, work, relax, and have fun, embodying the company’s advocacy of “Life. Work. Balance.” With this success, the PDPI has proven that a countryside-based and homegrown brand could have world-class aspirations and be a catalyst of local growth. The firm is committed to pursue this undertaking by stepping up further developments within the township. Responding to the call of the National Government to alleviate the housing backlog of the country, PDPI is developing additional residential projects in the next five years to provide almost 2,000 housing units for middle-income households, including an affordable housing project to cater to government workers and Overseas Filipino Workers (OFWs). With the help of LANDBANK, the Capiz-based developer is also planning to expand in other key cities and towns and offer PDPI’s brand of excellence all over the country. “We understand that LANDBANK is always there to support and guide us in our quest to provide the same development in other key cities, as well as underserved communities. We want to be there to give them the quality of life they deserve as Filipinos. That’s what we want. It’s not only about the profit we earn, but about the number of people benefitting from our projects,” Lavin said. Alongside its focus on supporting the agriculture sector, LANDBANK has been servicing emerging sectors and industries in line with fulfilling its expanded mandate of driving countryside and national development.
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InstaPAY fee reduced from P25 to P15
In line with advancing financial inclusion, the Land Bank of the Philippines (LANDBANK) will be significantly reducing transaction rates for fund transfer via InstaPay effective 15 June 2023. All fund transfer transactions, regardless of the amount, will now be subject to a fixed transaction fee of P15, down from the previous rate of P25. "By lowering fund transfer rate, more customers will benefit from the convenience and efficiency of our products. This is part of our commitment to provide accessible and affordable digital banking solutions, and to help expand financial inclusion," said LANDBANK President and CEO Lynette V. Ortiz. Digital fund transfer is facilitated by the LANDBANK Mobile Banking App (MBA) and iAccess for retail clients, and weAccess for Corporate Accounts. For the first three months of 2023, the three digital platforms have facilitated transactions amounting to a total of P265.7 billion. In full support of the National Government’s financial inclusion agenda, the reduction of transaction rates underscores LANDBANK's steadfast commitment to meeting the evolving needs of customers, in line with its expanded mandate of serving the nation.
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LANDBANK delivers cash cards to remote Caluya islands
LANDBANK Culasi Branch personnel took a 4-hour boat ride to distribute LANDBANK cash cards to social protection beneficiaries from the remote islands of the Municipality of Caluya, Antique. CALUYA, Antique – The Land Bank of the Philippines (LANDBANK) recently completed the distribution of cash cards to a total of 2,357 beneficiaries of the Department of Social Welfare and Development (DSWD) from the remote islands within the Municipality of Caluya—situated in the northernmost tip of the province of Antique in Western Visayas. Among the recipients are beneficiaries of the Listahanan and Social Pensioners programs residing in the islands of Caluya, Sibato, Sibolo, Liwagao, Panagatan, Sibay, and Semirara, reachable via a 4-hour boat ride from the mainland of Libertad, Antique. Beneficiaries can use the LANDBANK cash cards to conveniently withdraw their cash aid from the Jerique Grocery Store—a LANDBANK Agent Banking Partner (ABP) situated in the island of Caluya. The store’s mobile Point-of Sale (POS) terminal will also be deployed among the islands in the municipality during scheduled payouts. The LANDBANK cash cards can also receive funds from other LANDBANK accounts through fund transfers via the iAccess, the LANDBANK Remittance System (LBRS) for overseas remittances, ATMs, and from other bank accounts via InstaPay and ATM fund transfers. Beneficiaries may likewise use the cash cards for cashless transactions in groceries, pharmacies, convenience stores, and other accepting merchants via POS terminals. LANDBANK is the main distribution arm of financial assistance of the National Government, servicing the beneficiaries of the Conditional Cash Transfer (CCT) and Unconditional Cash Transfer (UCT) programs of the DSWD nationwide.
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LANDBANK welcomes Fitch outlook upgrade
The Land Bank of the Philippines (LANDBANK) welcomes the latest report of global credit ratings agency Fitch Ratings, Inc., which upgraded its outlook on the Bank to “stable,” alongside improved confidence in the country’s return to strong medium-term growth following the Covid-19 pandemic. The report published on 30 May 2023, which also affirmed the Bank’s Long-Term Issuer Default Ratings (IDRs) at 'BBB' and Government Support Rating (GSR) at 'bbb', considered LANDBANK’s “strategic and growing policy roles, 100% state ownership as well as its systemic importance as the largest state-owned bank in the country, with market share of about 14% of system assets.” The ratings agency likewise gave consideration to the “state’s improving ability to support the bank, in times of need, as reflected in the revision of the sovereign rating Outlook to stable,” which was detailed in a separate report the agency published on 22 May 2023. “The improved outlook from Fitch is a welcome vote of confidence for the Bank’s robust financial stability and resilience to withstand external and domestic economic headwinds. With solid state backing, we will intensify our support to the country’s priority programs and initiatives, towards expediting our complete resurgence from the global pandemic,” said LANDBANK President and CEO Lynette V. Ortiz. Led by solid governance and leadership, the Bank has continued to build its strong financial muscle to support key development sectors. It ranks second in the industry in terms of assets at P3.1 trillion and deposits at P2.8 trillion as of the first quarter of 2023, with financial ratios maintained at healthy levels. It recorded net income of P10.8 billion in the same period. The Bank’s capital likewise expanded year-on-year by 3.2% to P225.3 billion, as the Bank expressed confidence that it will reach its projected growth targets by yearend. LANDBANK is the only State-run Bank that has continued to ramp-up its digitalization drive geared towards providing safe, accessible and convenient banking service to meet the growing needs of customers, with a 30% growth in value of transactions amounting to P735.95 billion for its major digital banking platforms in the first quarter of 2023 alone. The Bank has maintained its dominance as the biggest development partner of the Local Government Units (LGU) sector towards local development, with all 1,717 LGUs nationwide maintaining deposit accounts with the state-run Bank. It is the only bank present in all 82 provinces of the country, providing accessible products and services, including to underserved and remote communities. LANDBANK remains as the country’s biggest Government-Owned and Controlled Corporation (GOCC) and the largest credit provider to the agriculture sector, among other key economic sectors, with the financial capacity and resources to fully support the National Government’s sustainable and inclusive development agenda.
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To expand access to potable water: LANDBANK pours support to water refilling station expansion in Isabela
LANDBANK has assisted the MHD Water Bottling Station to expand its operations and improve the supply of clean drinking water in the Province of Isabela. The home-grown business now produces around 5,000 bottles of alkaline water per day which are sold and delivered to sari-sari stores, schools, and offices, among other establishments. (Photos courtesy of MHD Water Bottling Station) QUIRINO, Isabela – While many far-flung areas in the country still lack access to clean drinking water, a local water refilling and bottling station is helping close this gap by supplying potable water in Isabela. MHD Water Bottling Station was established in 2008 when Spouses Eddie and Marites Dalit discovered a deep well on their 3-hectare agricultural property. Water sourced from the well passed the regulatory standards for alkaline drinking water safe for human consumption. Spouses Dalit saw this as a business opportunity to supplement their income, but more importantly, to expand access to clean and safe drinking water in their town. “Bukod sa dagdag na income para sa aming pamilya, gusto rin naming ibahagi ang blessing na ito sa aming kapwa,” said Marites. In 2009, Eddie and Marites expanded their business by operating their own alkaline water refilling station, bringing potable water closer to the residents of the 4th class municipality of Quirino and nearby towns. Following its success, they decided to further expand into water bottling to accommodate more customers in the region. To finance their business expansion, Spouses Dalit sought the assistance of the Land Bank of the Philippines (LANDBANK), which has been providing credit assistance to support their palay and corn trading business for over 20 years. “Matagal na kaming LANDBANK client at masasabi ko na talagang maaasahan ang kanilang serbisyo,” said Marites. LANDBANK approved a P4.5-million loan to partially finance the acquisition of alkaline water production and processing equipment, including the purchase of an automatic bottle rinsing, filling, capping, and labelling machine. Through a P4.5-million loan from LANDBANK, Eddie and Marites were able to purchase the necessary equipment to expand their business into an alkaline water bottling station. The equipment includes an automatic bottle rinsing, filling, capping, and labelling machine which can produce about 5,000 bottles of alkaline water per day. With their business expansion, Eddie and Marites made their alkaline water more accessible to remote communities, since bottled water is easier to transport and distribute around the Province. The MHD Water Bottling Station is able to produce around 5,000 bottles of alkaline water per day, which are delivered to 10 schools in Isabela, as well as government and private offices, and sold to walk-in customers in their station in Brgy. Santo Domingo. Through their distributors, they are also able to supply drinking water to nine other towns and cities in Isabela and Cagayan, including Gamu, Delfin Albano, Tumauini, and Naguilian, among others. “Napakalaki ng naitulong ng LANDBANK sa amin. Salamat sa kanila at napalago namin ang aming negosyo,” said Marites. LANDBANK continues to provide accessible credit support to micro, small and medium enterprises (MSMEs), as part of its commitment to assist key economic sectors towards building stronger and more inclusive local communities. As of end-April 2023, LANDBANK has extended P50.1 billion in outstanding loans to over 6,000 MSMEs nationwide.
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LANDBANK backs sugarcane sector with P1.55-B in loans
In its continued support of the sugar industry, the Land Bank of the Philippines (LANDBANK) has extended a total of P1.55 billion in outstanding loans to the sugarcane sector as of April 2023. Of the total disbursements, a cumulative release of P700.45 million in loans have benefitted a total of 4,366 individuals under the Socialized Credit Program-Sugarcane Industry Development Act (SCP-SIDA). In partnership with the Sugar Regulatory Administration (SRA), the SCP-SIDA has provided support to 2,577 borrowers, composed of 2,567 individual small farmers, four cooperatives, five associations and one Micro, Small, and Medium Enterprise from 16 different provinces nationwide. "LANDBANK is committed to driving growth in all industries of the agricultural sector. This includes pushing for sustainability and increasing the production and income of sugarcane farmers and workers," said LANDBANK President and CEO Lynette V. Ortiz. The SCP-SIDA aims to optimize the productivity of sugarcane farms by promoting advanced and cost-efficient farming practices, enabling farmers to invest in modern farming techniques, procure high-quality inputs, and acquire necessary equipment for higher yields and improved crop quality. Rodolfo Medina, Chairman of the Dampe Palay and Sugarcane Producers Cooperative in Pampanga, attests to the positive impact of the SCP-SIDA program on their cooperative. "Thanks to SCP-SIDA, our cooperative has experienced remarkable growth, and our members' livelihoods have significantly improved. We are immensely grateful to LANDBANK and SRA for their unwavering support and commitment to the sugarcane industry," said Mr. Medina. Through the financial support under SCP-SIDA with a low interest rate of 2% per annum, the cooperative was able to procure a tractor, combine harvester, and a ten-wheeler truck to enhance their harvesting and production processes. LANDBANK and SRA remain steadfast in their collective commitment to supporting sugarcane farmers address the emerging challenges and capitalize on new opportunities in the industry.
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LANDBANK backs Samar town’s dev’t push
Allen Mayor Jose Arturo D. Suan (center) with LANDBANK Samar Lending Center Head Virgilio D. Cabacang (right) and Account Officer Ricardo P. Palacio III (left) lead the ceremonial signing of a P160-million loan agreement to fund the Municipality of Allen’s development projects. ALLEN, Samar – The Land Bank of the Philippines (LANDBANK) signed a P160-million loan agreement with the local government of this municipality, in line with continuing efforts to support countryside development. The funding will be used to fast-track the town’s various development projects, which include the construction of an improved water system and public market, aimed at delivering essential public services while helping to reduce environmental degradation. “LANDBANK carries on its commitment of servicing the requirements of our LGU partners in support of their local development agenda. With these projects of Allen LGU, their constituents will be benefitted with basic but essential services including an improved water system and a public market,” said LANDBANK President and CEO Lynette V. Ortiz. The LANDBANK loan was officially inked by Allen Mayor Jose Arturo D. Suan and LANDBANK Samar Lending Center Department Manager Virgilio D. Cabacang, alongside Account Officer Ricardo P. Palacio III on 9 May 2023. “I appreciate LANDBANK’s continued support to the development of our municipality. Our people are ecstatic to witness the growth that these projects will bring to Allen,” said Mayor Suan. Bulk of the loan amounting to P75 million will fund the construction of a water system level 3, which will provide safe drinking water to at least 1,603 households and mitigate infection from water borne diseases. To drive the local economy, P40 million will be used for the construction of the public market extension and development of Rizal Street as hubs for local businesses and vendors to promote local food and generate employment opportunities. A total of P20 million will be allotted to construct a 400-meter drainage system to mitigate constant flooding in barangays Kinabranan 1 and 2, and Sabang 1 and 2. The loan will also help finance the development of the public cemetery worth P10 million, that will address current over-crowding in the municipality’s existing cemetery. Lastly, the local government of Allen allotted P15 million for lot acquisition for a new local university campus that will offer more college courses and increase the number of students it can accommodate. LANDBANK has backed the development of the Municipality of Allen since 2006, financing projects such as the construction of a transport terminal and water system facility. The Bank has maintained its dominance as the biggest development partner of the LGU sector towards local development, with all 1,717 LGUs nationwide maintaining deposit accounts with the state-run Bank. As of 31 March 2023, LANDBANK’s outstanding loans to LGUs nationwide have reached P94.5 billion.
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LANDBANK offers online payment of single-ticket fines in Metro Manila
The LANDBANK Link.BizPortal provides traffic violators with a safe and convenient option to settle traffic violations under the Metro Manila’s Single Ticketing System anytime and anywhere. Traffic violators under the recently implemented Single Ticketing System in Metro Manila may conveniently settle their fines and charges online, through an alternative online payment facility powered by the Land Bank of the Philippines (LANDBANK). The LANDBANK Link.BizPortal has been integrated into the Single Ticketing System webpage of the apprehending local government units (LGUs), for an easier and more accessible online payment system. Motorists can settle traffic fines and charges through the Link.BizPortal using their LANDBANK and Overseas Filipino Bank (OFBank) accounts, as well as virtual accounts opened via LANDBANKPay—the state-run Bank’s all-in-one electronic wallet and payment solution. Accounts with BancNet or PayGate participating banks and other e-wallets can also be utilized when transacting through the LANDBANK Link.BizPortal. The cash payment option is likewise available through cash and partner agents, including LANDBANK Agent Banking Partners (ABPs). The Link.BizPortal eliminates the need to go to the offices of the Metropolitan Manila Development Authority (MMDA) and apprehending LGUs for over-the-counter transactions, providing motorists with a safe and convenient option to settle traffic violations anytime and anywhere. Prior to the pilot implementation of the Single Ticketing System in Metro Manila, LANDBANK has been facilitating the online collection of MMDA payments, fees and charges through the Link.BizPortal since June 2021. As of 30 April 2023, the LANDBANK Link.BizPortal has recorded over 160 transactions amounting to P109,734 for the settlement of traffic violations and anti-littering penalties for MMDA. The pilot implementation of the Single Ticketing System covering the cities of Caloocan, Manila Muntinlupa, Parañaque, San Juan, Valenzuela, and Quezon City started on 02 May 2023. The new system seeks to harmonize existing laws on traffic enforcement and management in Metro Manila, including standardizing the fines and penalties for common traffic violations and providing interconnectivity among government instrumentalities involved in transport and traffic management. The MMDA is among the more than 1,230 government and private partner merchants in the LANDBANK Link.BizPortal, which allows customers to conveniently pay for products and services online. The Portal also promotes transparency and efficiency by reducing opportunities for red-tape, corruption and other fraudulent practices. LANDBANK supports the digitalization of the country’s payment systems and services towards building a cashless and inclusive society being promoted by the Bangko Sentral ng Pilipinas (BSP).
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Ortiz assumes presidency of LANDBANK
Lynette V. Ortiz (right) takes her oath as the 11th President and CEO of LANDBANK before Finance Secretary and LANDBANK Chairman Benjamin E. Diokno (left) on 24 May 2023 at the DOF Building in Manila. May 24, 2023 – Seasoned banker Lynette V. Ortiz was sworn in today as the new President and Chief Executive Officer of the Land Bank of the Philippines (LANDBANK) following her recent appointment by President Ferdinand R. Marcos, Jr. She brings with her over 30 years of extensive experience in local and international banking. Ortiz formally took her oath as the 11th President and CEO of LANDBANK before Finance Secretary and LANDBANK Chairman Benjamin E. Diokno at the DOF Building in Manila. She succeeds Cecilia Cayosa Borromeo who held the post for four years. Prior to her appointment in LANDBANK, Ortiz served as the first Filipino CEO of the Standard Chartered Bank (SCB) Philippines, a post she held since October 2016. She led strategies to grow the local franchise across the various client segments and deliver sustainable financial performance. She also held various senior posts in risk management, treasury, corporate finance and capital markets in foreign and local institutions. “I recognize the highly important role of LANDBANK in nation-building, and I am keen to contribute and infuse ideas and innovations that will further fortify the Bank in fulfilling its social mandate. I hope to bring in a fresh perspective drawn from my experience working in global organizations,” Ortiz said. Ortiz has spearheaded several landmark transactions in both domestic and international capital markets for Philippine and ASEAN issuers. She serves as First Vice President in the Board of the Bankers Association of the Philippines (BAP), and is also a member of the BAP Executive Committee. She vowed to build on the gains of LANDBANK in supporting agriculture and other key industries, expanding financial inclusion, delivering assistance to marginalized and vulnerable sectors, and supporting other players in advancing inclusive development agenda. “With the support of the entire LANDBANK team, we will work to make our operations more dynamic and responsive to address the changing needs of our highly diverse customers and stakeholders, while remaining viable and competitive,” according to Ortiz. A strong advocate for diversity and inclusion, Ortiz was named UN Women 2021 Philippine Women’s Empowerment Principles Awards Champion for Leadership Commitment recognizing her role in setting strong corporate commitments and inclusive leadership.
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LANDBANK President named Outstanding CEO of the year
LANDBANK President and CEO Cecilia Cayosa Borromeo (center) receives the Outstanding CEO Award 2023 from ADFIAP Chairman Mominul Islam (right) and Royal Government of Cambodia delegate and ARDB Bank CEO Dr. Kao Thach (left) at the ADFIAP Development Awards in Almaty, Kazakhstan. Land Bank of the Philippines (LANDBANK) President and CEO Cecilia Cayosa Borromeo was hailed as ‘Outstanding CEO for 2023’ during the annual Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) Development Awards on 16 May 2023 held in Almaty, Kazakhstan. The “Outstanding CEO Award 2023” is granted by ADFIAP to a practicing Chief Executive Officer whose exceptional leadership, vision, and achievements have made a significant impact on his or her institution, the development banking profession, and the country’s development. The award recognizes Borromeo’s accomplishments in steering the Bank’s transformation as a development-oriented institution at the forefront of nation-building. “I am deeply honored and humbled by this recognition from peers in development finance. This accolade extends to the men and women of LANDBANK who are passionate in service, committed to the pursuit of excellence, and inspired to make a positive difference,” said President Borromeo. President Borromeo led LANDBANK’s intensified support to agriculture, by almost quadrupling the number of small farmers and fishers assisted from 889,669 in June 2019 to 3.5 million by the end of 2022, exceeding its commitment to reach 3 million small farmers and fishers by 2022. The Bank’s agri loans also grew to P261.7 billion—the highest in the industry—which supported all components of the agriculture value chain. Under her leadership, LANDBANK became a key player in advancing the National Government’s financial inclusion agenda, by onboarding a total of 8.35 million previously unbanked Filipinos who are registrants in the National ID program. President Borromeo likewise pushed for the continued expansion of LANDBANK’s reach, especially in unserved and underserved areas. LANDBANK is the only bank present in all 82 provinces of the country, with touchpoints in 80% of the 1,634 cities and municipalities nationwide. It was also during her term that LANDBANK ramped up its digitalization drive towards providing digital solutions to meet the growing needs of customers, posting year-on-year growths of 14% amounting to 155.8 million transactions and 126% for P5.6 trillion in value, respectively, in 2022. LANDBANK breached the P3-trillion mark in total assets and P30-billion in net income in 2022, posting an asset growth of 21.5% to P3.1 trillion and a jump of 38.2% in net income to P30.1 billion, respectively. President Borromeo’s term also saw the establishment of LANDBANK’s subsidiary, the Overseas Filipino Bank (OFBank), as a digital bank and the first branchless bank in the Philippines catering especially to Overseas Filipino Workers and Overseas Filipinos. Other ADFIAP Awards At the awarding ceremony, LANDBANK also bagged an Environmental Development award for its Clean Development Mechanism (CDM) on Animal Waste Management project, which promotes biodigester technology as a pollution control system for piggery farm operations. Piggery farm operations normally generate methane gas, which is a greenhouse gas (GHG). Through this technology, methane gas is captured, converted into energy resource to be utilized for farm operations, enabling reduction of GHG and its harmful effects. The Bank also received a Merit Award on Financial Inclusion for offering Online Deposit Account Opening and Purchase of Retail Treasury Bonds, which allows clients to open an account and purchase Retail Treasury Bonds (RTB) offered by the Bureau of the National Treasury (BTr). LANDBANK is the only government entity that offers an online ordering platform for bond issuances of the National Government. 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.
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To help address high drop-out rate: LANDBANK okays P272-M fund for San Jose school buildings
San Jose City Mayor Mario O. Salvador (center) and LANDBANK Nueva Ecija Lending Center Head, Vice President Eduardo N. Reyes, Jr. (leftmost) lead the ceremonial signing of a P272-million loan agreement for the construction of public school buildings in the City. Joining them are City Treasurer Arnold A. Escuadro (4th from left), LANDBANK San Jose Branch Head Imelda G. Eusebio (2nd from left), and Account Officer Ruben A. Laureta (rightmost). SAN JOSE CITY, Nueva Ecija – The Land Bank of the Philippines (LANDBANK) has granted the City Government of San Jose a P272-million loan for the construction of new public school buildings, towards providing accessible and quality education for San Joseños. The San Jose LGU will use the funding to build 18 new public school buildings, 15 of which are allotted for elementary schools, two for secondary schools, and one for an integrated school. The project will be implemented in 15 different barangays, including areas with high incidence of drop-outs due to the lack of nearby educational facilities and high education cost incurred by mostly farmer-parents. “LANDBANK is committed to providing meaningful investments to advance inclusive, quality education. Our partnership with the City of San Jose will support its continuing development and transcend generations of residents,” said LANDBANK President and CEO Cecilia Cayosa Borromeo. Once completed and operational, the new school buildings will provide 115 additional classrooms to around 4,025 students at an ideal classroom to student ratio of 1:33. This will help accommodate more students, from 33,357 to 37,382, who mostly come from families of farmers, regular fixed income earners, and micro and small entrepreneurs. The project will also benefit the local economy by generating new employment to 72 additional teachers. San Jose City Mayor Mario O. Salvador and LANDBANK Nueva Ecija Lending Center Head, Vice President Eduardo N. Reyes, Jr. led the ceremonial signing of the loan agreement on 25 April 2023. They were joined by City Treasurer Arnold A. Escuadro, LANDBANK San Jose Branch Head Imelda G. Eusebio, and Account Officer Ruben A. Laureta. Mayor Salvador thanked LANDBANK for its support in providing better educational facilities to the youth of San Jose. “We aim to deliver quality convenient education through the construction of various school buildings, especially in remote areas of our community, which will minimize school drop-outs and ease the financial burden of parents,” said Mayor Salvador. LANDBANK has been a partner of the San Jose LGU since 2002 in delivering responsive and meaningful public services. The Bank has previously supported local development projects that include the acquisition of heavy equipment and construction of public market, farm to market roads, school buildings, overflow bridge, and other essential infrastructure facilities.
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