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Be in the know of the latest news and updates about LANDBANK.

LANDBANK lends financial muscle to DA-Go Negosyo agri program

The Land Bank of the Philippines (LANDBANK) has partnered with the Department of Agriculture (DA) and Go Negosyo to support their existing coaching program and service the financial requirements of eligible farmers, fishers, and micro, small, and medium enterprises (MSMEs) nationwide. Under the Kapatid Agri Mentor Me Program (KAMMP), LANDBANK will facilitate loan applications and provide credit assistance to graduate-mentees coached and trained by Go Negosyo and DA. The Bank will also assist in the development of new training and mentorship modules for startup and expanding agribusiness ventures. During the virtual Memorandum of Agreement (MOA) signing ceremony on 20 September 2021, LANDBANK welcomed the opportunity to match its loan programs with the specific requirements of eligible KAMMP graduates and provide accessible and affordable credit assistance to support their livelihood. “We are proud to be part of this meaningful and timely undertaking tailored to the needs of the agriculture sector. This is aligned with our ongoing efforts in widening credit access to farmers, fishers, and MSMEs nationwide,” said LANDBANK President and CEO Cecilia C. Borromeo. Presidential Adviser for Entrepreneurship and Go Negosyo founder Secretary Joey A. Concepcion highlighted the impact of LANDBANK’s involvement in KAMMP towards achieving its goal under the Mentorship, Market, and Money (3Ms) Principle. “These efforts from LANDBANK to provide financing to entrepreneurs under KAMMP are definitely a welcome development. I would like to thank Secretary Dar and President Borromeo for joining forces with Go Negosyo to really try and improve the lives of the Filipino people,” said Presidential Adviser Concepcion. For his part, DA Secretary William D. Dar noted the importance of adapting digital innovations to transform agriculture in the country. “Mahalaga po ang technology and innovation as part of this mentorship program para sa gano’n ay madagdagan ang kaalaman ng mga nagnenegosyo sa agrikultura at mapadali ang kanilang paghahanap-buhay,” said Secretary Dar. LANDBANK is looking to launch within the year its Digital Lending System (DLS), which will facilitate online loan applications for the safety and convenience of farmers and fishers. This move is in line with the National Government’s health and safety protocols due to the COVID-19 pandemic and its Ease of Doing Business campaign. From January to July 2021, LANDBANK has conducted 20 virtual trainings for 168 cooperatives nationwide facilitated by the LANDBANK Countryside Development Foundation, Inc. (LCDFI), while 85 MSMEs have attended the Bank’s new webinars from July to August 2021 to strengthen their recovery strategy under the new normal. LANDBANK’s partnership with DA and Go Negosyo builds on the Bank’s ongoing efforts to provide accessible and timely agricultural credit as part of serving the nation.

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LANDBANK-funded oxygen-generating plants breathe hope to provincial hospitals

The Land Bank of the Philippines (LANDBANK) has approved a P94.5-million term loan for the construction of the first government-owned oxygen-generating plant in the Province of Sorsogon. In partnership with the Provincial Government of Sorsogon under the leadership of Gov. Francis Joseph G. Escudero, LANDBANK will finance the purchase and installation of the oxygen-generating facility to be stationed at the Sorsogon Provincial Hospital. This will help increase the supply of medical oxygen to all nine (9) government hospitals in the province and benefit its more than 800,000 residents, as well as those from other neighboring provinces. The establishment of this facility is part of the local government’s COVID-19 mitigation efforts, particularly now with the rising demand for medical oxygen caused by the recent surge in infections. The plant will also help lower the costs for tank refilling from P490 per tank to only P157. At present, the province sources medical oxygen from only one supplier in Camarines Sur. The P94.5-million financing for the oxygen plant—which is expected to be completed in early 2022—forms part of LANDBANK’s intensified support to LGUs nationwide in providing basic health services, especially amid the ongoing pandemic. “LANDBANK remains committed to serving the nation at the frontlines of our battle against the pandemic. Alongside our LGU partners, we stand ready to service growth and recovery requirements, which include boosting local healthcare services and providing support to medical frontliners and their constituents,” said LANDBANK President and CEO Cecilia C. Borromeo. LANDBANK also financed a P29-million oxygen plant for the Provincial Government of Negros Occidental in 2010. Located in the City of Silay, the LANDBANK-funded facility has been supplying medical-grade oxygen to almost all district hospitals in the province for the past 10 years. Since the onset of the pandemic last year, the oxygen plant has been providing free medical oxygen to local public health institutions and COVID-isolation facilities, namely the Cadiz City District Hospital, Valladolid District Hospital, Provincial Healing Center in E.B. Magalona, and the Teresita Lopez Jalandoni Provincial Hospital in Silay City.

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LANDBANK, LTFRB partner for faster cash payout to PUV operators

The Land Bank of the Philippines (LANDBANK) has teamed up with the Land Transportation Franchising and Regulatory Board (LTFRB) in the relaunch of the Service Contracting Program for public utility vehicle (PUV) operators to ensure quicker and more efficient disbursement of cash payments. With a Program fund of P3 billion, LANDBANK will facilitate the crediting of cash payments to eligible PUV operators through their existing LANDBANK accounts and other partner outlets via InstaPay or PESONet.  Under the Program, qualified PUV operators will receive the payouts weekly while providing free rides to frontline healthcare workers and Authorized Persons Outside Residence (APORs) to support their mobility requirements during the ongoing pandemic. In the virtual launch of the Service Contracting Program Phase 2 held on 10 September 2021, LANDBANK expressed its commitment to help provide PUV operators and drivers nationwide with sustainable livelihood amid reduced ridership resulting from Community Quarantine periods. “We welcome this collaboration under the Service Contracting Program Phase 2 to deliver prompt financial assistance to PUV operators nationwide towards ensuring the efficient, safe, and uninterrupted operations of public transportation under the new normal,” said LANDBANK President and CEO Cecilia C. Borromeo. During the virtual launch event, the LTFRB encouraged participants of the Program to open a LANDBANK account so they can quickly receive the payouts, as disbursement to other accounts will take longer due to additional processes. “We have encouraged and suggested na ‘yung lalahok dito sa Service Contracting Program ay kukuha at mag-oopen ng LANDBANK account para diretso na agad sa kanila, in real-time po ang pagbabayad,” said LTFRB Chairman Atty. Martin B. Delgra III. LANDBANK is committed to contribute to the National Government’s continuing efforts to advance the country’s transportation sector and provide the riding public safe, secure, and convenient transport services in the new normal. Through the SPEED PUV (Special Package for Environment-Friendly and Efficiently-Driven Public Utility Vehicles) and the I-RESCUE for BUS Transport Lending Programs, LANDBANK supports the purchase of modern public utility jeepneys and buses by providing affordable financing to transport cooperatives and corporations. As of August 2021, the Bank has approved P2.32 billion in loans for the acquisition of 1,093 modern units under the SPEED PUV, while another P4 billion is being processed for 43 additional loan applications.

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Investing in BTR’s Retail Dollar Bonds made easier via LANDBANK channels

The Land Bank of the Philippines (LANDBANK) presents more convenient investment channels for the public to participate in the Bureau of the Treasury’s (BTr) first-ever Retail Dollar Bond (RDB) offering in the country. Launched on 15 September 2021, the RDBs are United States (US) dollar-denominated bonds that allow retail investors to mobilize and grow their savings while helping fund the National Government’s recovery and resiliency programs. The RDBs—available at a minimum investment of US$300 and increments of US$100 thereafter—can be purchased using either US dollar or Philippine peso accounts. For the latter, LANDBANK will facilitate the currency conversion of peso to US dollar to access the bonds, including the interest and principal payments. For the first time, interested investors can use the LANDBANK Mobile Banking App (MBA) to purchase the RDBs and complete the transaction in as fast as five minutes, even less. 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. Investors can also make online placements for the RDBs through the BTr Online Ordering Platform and settle the payments via the LANDBANK Link.BizPortal online payment facility. Over-the-counter placements are also accepted in all LANDBANK branches nationwide. “We are inviting the investing public to support the BTr’s Retail Dollar Bonds offering to expand their portfolio and contribute directly to the government’s recovery and development agenda. Through LANDBANK’s online investment channels, individual investors worldwide can invest safely and conveniently in these bonds that offer relatively higher returns,” said LANDBANK President and CEO Cecilia C. Borromeo. LANDBANK serves as the Joint Lead Issue Manager for the RDB issuance, as part of its continued support to advancing greater financial inclusion and boosting the state’s resources to fund various recovery and development projects.  

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LANDBANK onboards 5.3-M unbanked PhilSys registrants

State-run Land Bank of the Philippines’ (LANDBANK) continues its collaboration with the Philippine Statistics Authority (PSA) for the Philippine Identification System (PhilSys) Project to bring unbanked Filipinos into the country’s financial system and allow them access to a wide range of banking services. As of 2 September 2021, LANDBANK has onboarded 5.3 million unbanked PhilSys registrants for their own transaction accounts through account opening booths at select PhilSys co-location areas nationwide. The registrants have already utilized the LANDBANK prepaid cards for various transactions amounting to P31.8 million. The PhilSys registrants can use the LANDBANK prepaid cards to safely and conveniently manage funds, withdraw cash, perform cashless transactions, shop and pay bills online, and receive government subsidies digitally. “Bringing unbanked Filipinos into the financial mainstream lays the groundwork for inclusive growth, especially as we fast-track initiatives toward economic recovery and sustained development. Access to formal banking services encourages people to save money, repay loans, invest in financial products, and guides them to financial independence,” said LANDBANK President and CEO Cecilia C. Borromeo. Unbanked PhilSys registrants may sign up for LANDBANK transaction accounts once they complete the PhilSys Step 2 registration, which covers validating supporting documents and capturing biometrics information. PhilSys registrants can also activate their LANDBANK prepaid cards and perform their transactions through the LANDBANK Mobile Branches, which are deployed to communities across the country with disrupted or limited access to banking services. The LANDBANK Mobile Branch is designed to service unbanked and underserved communities and areas affected by disasters, calamities, and other disruptive events, which form part of LANDBANK’s intensified efforts to advance greater financial inclusion in the country. LANDBANK affirms its commitment to support the PhilSys Project by co-locating with the PSA to reach more of the unbanked population in support of the National Government’s target of providing at least one bank account for every Filipino household by the end of this year.

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LANDBANK, Converge ICT sign P3-B loan to boost internet coverage

LANDBANK and Converge sign a P3-billion loan agreement to provide fast and reliable internet connectivity to more subscribers nationwide. The virtual signing ceremony on August 27, 2021, was led by (upper row from left) Converge CEO Dennis Anthony H. Uy, Converge President Maria Grace Y. Uy, and LANDBANK President and CEO Cecilia C. Borromeo. They were joined by (lower row from left) Converge Deputy Chief Finance Officer Christine Renee R. Blabagno and LANDBANK officials, namely Agricultural and Development Lending Sector, Officer-in-Charge Senior Vice President Filipina B. Monje and Corporate Banking Group Head, Senior Vice President Ma. Celeste A. Burgos. State-run Land Bank of the Philippines (LANDBANK) signed a P3-billion loan agreement with Converge Information and Communications Technology Solutions, Inc. (Converge) to help provide fast and reliable internet service to more subscribers nationwide. LANDBANK President and CEO Cecilia C. Borromeo alongside Converge CEO Dennis Anthony H. Uy and President Maria Grace Y. Uy led the virtual loan signing ceremony to support the fiber broadband service provider’s continuing terrestrial and subsea domestic network expansion and finance working capital requirements. They were joined by Converge Deputy Chief Finance Officer Christine Renee R. Blabagno and LANDBANK officials, namely Agricultural and Development Lending Sector Officer-in-Charge, Senior Vice President Filipina B. Monje and Corporate Banking Group Head, Senior Vice President Ma. Celeste A. Burgos. Also present during the signing ceremony was Converge Chief Financial Office Advisor Matthias Vukovich. During the virtual ceremony, LANDBANK emphasized the importance of investing in technology as more Filipinos adapt to a digital lifestyle due to the ongoing pandemic. “We are hopeful on this new partnership between LANDBANK and Converge  to ensure the delivery of fast and consistent internet services across the country. It is with urgency that we must support more users in adapting to home set-ups for work and education in the new normal. This is also aligned with LANDBANK’s thrust of leveraging on digital innovations to provide uninterrupted, safe, and timely financial solutions to our clients, especially the unbanked and underserved,” said LANDBANK President and CEO Borromeo. Converge  CEO Uy expressed his gratitude to LANDBANK for providing an accessible financial channel to expand their fiber footprint nationwide. “This loan financing brings us one step closer to our goal of connecting the unserved and underserved areas in the country. The available funds will help us reach into untapped markets and really ‘Go Deep’ into existing ones,” said CEO Uy during the virtual loan signing. Converge will utilize the credit support from LANDBANK for its continued network expansion across the country, broadening its distribution reach, and boosting international connectivity. The total loan package from LANDBANK will also include an additional short term loan line as well as a facility for its trade transactions amounting to up to P2 billion. In line with servicing the emerging needs of its clients in the new normal, LANDBANK successfully facilitated 73.5 million transactions amounting to P1.307 trillion through its five major e-banking channels from January to July 2021. This represented comparative year-on-year increases of 12% and 65%, respectively. As of July 2021, the Bank has also facilitated the opening of more than 1.7 million online accounts through its Digital On-boarding System or DOBS which digitizes the submission of account applications. LANDBANK also launched recently the DOBS Mobile which facilitates online savings account opening in as fast as 10 to 15 minutes. The LANDBANK DOBS Mobile eliminates the need to line up in branches to open an account, in support of the National Government’s Ease of Doing Business (EODB) initiative, as well as safety protocols imposed to limit COVID-19 infections. LANDBANK also continues to waive fees for inter-bank fund transfers via InstaPay and PESONet for retail clients until September 30, 2021.

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LANDBANK, Isabela town partner to provide market support to palay farmers

Alicia Mayor Joel Amos P. Alejandro (center) inspects the municipal government’s purchase of palay directly from local farmers at premium prices, with support from a P65-million loan under LANDBANK’s Palay at Mais ng Lalawigan Lending Program, which helped stabilize the local prices of palay and provided a ready and steady market for farmers’ produce. ALICIA, Isabela – Situated in the “Queen Province of the North,” the Municipality of Alicia is surrounded with vast tracts of rich agricultural lands planted mostly to palay and corn. Having the largest irrigated rice fields in the region, Alicia is considered the largest rice producer in Cagayan Valley. The COVID-19 pandemic, however, affected market conditions for these farmers, as health and safety lockdowns limited the movement of buyers, traders, and produce. To address this growing concern, the municipal government decided to pursue high-impact projects to help boost the productivity of its more than 1,000 farmers and ensure local food security. This led the administration of Alicia Mayor Joel Amos P. Alejandro to partner with local farmers’ cooperatives and associations to directly purchase the palay produced by local farmers at premium prices. Through the assistance of Land Bank of the Philippines (LANDBANK), the Alicia LGU applied for a P65-million credit facility for a Permanent Working Capital (PWC) under the Bank’s Palay at Mais ng Lalawigan Lending Program. Through the Program, the Alicia LGU buys palay at an indicative subsidized price of P15.00 to P16.00 per kilogram for wet palay, and P19.00 per kilogram for dry palay. This helped stabilize the prices of palay in Alicia, while providing a steady market for farmers’ produce. The LGU, in turn, sells the procured palay processed into milled rice in public markets and other government institutions, such as government hospitals, jails, and other entities. The LGU also signed lease contracts with millers and warehouse owners to set up a streamlined rice milling arrangement in the area. Moreover, the Program supported the LGU’s initiatives to deliver rice subsidies to indigent residents of Alicia, particularly when the area was placed under Enhanced Community Quarantine (ECQ) to stem the spread of COVID-19 infections. “Ako ay nagpapasalamat sa LANDBANK dahil sa kanilang programa para sa aming local farmers. Malaking tulong ito para sa aming munisipyo. I am also proud to note that we are the first LGU that availed and implemented this Program, which has so far proven to be successful. We are counting on LANDBANK to support our plans in expanding this program so that we may be able to support more palay farmers in Alicia,” Mayor Alejandro said. Initially launched by LANDBANK and the Department of Agriculture (DA) in 2019 as the “PAlay aLAY sa Magsasaka ng Lalawigan,” the Program aims to provide a credit facility to Municipal, City, and Provincial LGUs to purchase palay produced by local farmers whose incomes have been affected by the drop in the farm gate price of palay. The Program has since been expanded in 2020 to cover the purchase of corn, in support of Republic Act No. 11494 or the Bayanihan to Recover as One Act. “We are closely working with local government partners to meet the production requirements of farmers and help ensure food security especially during this ongoing pandemic. We are thus encouraging more LGUs, especially those in rice and corn producing communities, to avail of the LANDBANK Palay at Mais ng Lalawigan Program to support our local farmers,” said LANDBANK President and CEO Cecilia C. Borromeo. The P10-billion funded facility is LANDBANK’s response to the National Government’s call to support the livelihood of local farmers, who can sell their palay and corn to their LGUs at a fair price rather than to unscrupulous rice traders who offer very low prices. Additionally, LGUs may avail of farm machineries and equipment for post-harvest facilities to support their rice and corn-related activities. As of July 2021, LANDBANK has approved loans for the Program amounting to P3.85 billion for eight (8) LGUs. As of July 31, 2021, LANDBANK has extended a total of P21 billion in outstanding loans to support the agri-aqua projects of LGUs nationwide. Interested borrowers of the LANDBANK Palay at Mais ng Lalawigan Lending Program may contact the nearest open LANDBANK Lending Center or Branch nationwide, or call LANDBANK’s customer service hotline at (02) 8-405-7000 or at PLDT Domestic Toll Free 1-800-10-405-7000. For more updates, please follow the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), and Twitter (@LBP_Official); join our Viber community (@LANDBANK); or visit the LANDBANK website (www.landbank.com).

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LANDBANK okays P68-M loan for modern jeepneys in Novaliches

In support of the National Government’s drive toward building a modernized transport system, the Land Bank of the Philippines (LANDBANK) approved a P68-million loan to the Novaliches Development Cooperative (NOVADECI). The funding will be used to purchase 32 modern jeepney units seen to benefit over 500 drivers and operator-members. Financed under LANDBANK’s SPEED PUV Program (Special Package for Environment-Friendly and Efficiently-Driven Public Utility Vehicles), the brand-new, modern public utility jeepneys (PUJs) will ply the routes of Novaliches in Quezon City to Malinta in Valenzuela City, and vice versa. NOVADECI Chairperson Leonisa A. Fausto and LANDBANK Corporate Banking Group head, Senior Vice President Ma. Celeste A. Burgos led the virtual loan signing on August 3, 2021. They were joined by NOVADECI officials, including Vice Chairman Nena C. Espinola, Education Committee Chairman Jaime G. Contreras, Jr., and General Manager Marlene D. Sindayen. Also representing LANDBANK was Microfinance Institutions Department head, Assistant Vice President Leonardo D. Aurellana, Jr. Ms. Fausto thanked LANDBANK’s unrelenting support and guidance to the cooperative in completing all the necessary documentary requirements for the loan. “Salamat at hindi ninyo binigo ang kahilingan ng aming mga kasapi mula sa transport sector na matugunan ng NOVADECI ang hamon sa transport modernization. Isang karangalan para sa amin na maging bahagi kayo ng aming proyekto,” Fausto said. LANDBANK offers affordable financing to public transport cooperatives or corporations for the purchase of modern vehicles under the SPEED PUV Program, which directly supports the Public Utility Vehicle Modernization Program (PUVMP) spearheaded by the Department of Transportation (DOTr) and the Land Transportation Franchising and Regulatory Board (LTFRB). “LANDBANK stands ready in helping transport cooperatives nationwide to make the shift to safer and more efficient vehicles. Together with the DOTr and LTFRB, we will continuously support efforts to modernize the country’s transport system for the benefit of transport players and the riding public,” said LANDBANK President and CEO Cecilia C. Borromeo. As of July 31, 2021, LANDBANK has provided financial support amounting to P1.95 billion to 45 public transport cooperatives and corporations for the purchase of 922 modern PUJs, covering a total of 53 routes. Another 45 loan applications are currently being processed amounting to P4.23 billion to procure 1,823 units of modern jeepneys. Under the SPEED PUV Program, loans are released to borrowers 45 days upon submission of all necessary requirements. Through the Program, eligible borrowers may loan up to 95% of the PUJ’s total cost at an affordable interest rate of 6% per annum, payable based on cash flow but not to exceed a maximum of seven (7) years. Interested borrowers may contact the nearest open LANDBANK Lending Center or Branch nationwide, or call LANDBANK’s customer service hotline at (02) 8-405-7000 or at PLDT Domestic Toll Free 1-800-10-405-7000. For more updates, please Follow, Like and Share the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), and join our Viber community (@LANDBANK), or visit the LANDBANK website (www.landbank.com).

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LANDBANK, Supreme Court join hands for easier Bar exam payments

The Supreme Court of the Philippines and Land Bank of the Philippines (LANDBANK) have partnered to offer aspiring lawyers convenient options to settle their fees for the upcoming Bar examinations scheduled on all four (4) Sundays of November 2021. The Supreme Court’s Office of the 2020/2021 Bar Examinations Chairperson recently announced that 24 institutions have been approved to serve as local testing centers nationwide, and that Bar applicants can also pay the Bar application fee online through LANDBANK’s Link.BizPortal as an additional option. Starting last July 29, 2021, applicants may settle their Bar exam fees via the Link.BizPortal facility, while over-the-counter (OTC) payments at any LANDBANK branch or branch-lite unit nationwide are being accepted since July 15. The Link.BizPortal is LANDBANK's electronic payment facility that allows clients to safely and conveniently pay for products and services online to over 800 enrolled partner-merchants nationwide, anywhere, anytime. "LANDBANK has partnered with the Supreme Court to provide alternative payment methods, in line with keeping aspiring lawyers safe and focused during their preparation for the Bar exam. We will continue to partner with more government and private institutions to provide fast and convenient payment services under the new normal," said LANDBANK President and CEO Cecilia C. Borromeo. From January to July 2021, LANDBANK's five major electronic channels—Mobile Banking App, weAccess, iAccess, Link.BizPortal, and Electronic Modified Disbursement System (eMDS)—facilitated a total of 73.5 million transactions valued at P1.307 trillion. These represent increases of 12% and 65% in volume of transactions and value, respectively, over the same period last year. In particular, the Link.BizPortal facility recorded 2.3 million transactions amounting to P5.57 billion, equivalent to 105% and 103% increases year-on-year, respectively. For more updates, please Follow, Like and Share the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), join our Viber community (@LANDBANK), or visit the LANDBANK website (www.landbank.com).

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LANDBANK supports ARTA’s call for digital payment systems

In support to the National Government’s Ease of Doing Business and financial inclusion initiatives, the Land Bank of the Philippines (LANDBANK) reported a sustained increase in the usage of its major electronic banking channels, including payment systems used by national and local government agencies, in the first seven months of the year.  The report follows the recent call of the Anti-Red Tape Authority (ARTA) for government agencies to digitize their payment systems, as part of their compliance to Republic Act No. 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018. From January to July 2021, LANDBANK’s web-based e-payment platform, the Link.BizPortal, facilitated 2.3 million transactions amounting to P5.57 billion, representing 105% and 103% growth rates year-on-year, respectively. The Link.BizPortal facilitates easy payment for products and services online to over 800 partner merchants nationwide, 473 of which are from the public sector. Likewise, the Bank’s Electronic Modified Disbursement System (eMDS) for national government agency partners also reached 1.1 million transactions amounting to P925.28 billion, translating to 36% more transactions and a 74% jump in value from the same period last year. “LANDBANK continues to answer the call for accessible, reliable, and safe electronic banking in the new normal, driven by the varied needs of customers due in large part to the pandemic. We are committed to collaborating with more government partners to make financial services much more accessible, towards promoting Ease of Doing Business and advancing greater digital financial inclusion in the country,” said LANDBANK President and CEO Cecilia C. Borromeo. LANDBANK’s e-banking channels continue to surge in July Together with the LANDBANK Link.BizPortal and eMDS, the Bank’s roster of major e-banking channels—including the LANDBANK Mobile Banking App, weAccess, iAccess—breached the P1-trillion mark by facilitating transactions with a total value of P1.307 trillion, up by P516.45 billion or 65% from the same period last year. In addition, the channels recorded a combined 73.5 million transactions for a 12% increase year-on-year. The LANDBANK weAccess dedicated for corporate clients facilitated P277.43 billion through 11.3 million transactions. These are equivalent to increases of 31% and 22%, respectively, year-on-year. The LANDBANK Mobile Banking App recorded 55.72 million transactions up 48%, with a total value of P89.9 billion or a 136% increase from the previous year. Lastly, the LANDBANK iAccess, which caters to the online banking needs of individual retail clients, reported a total of 3.1 million transactions valued at P8.86 billion, with the latter notching a 49% increase over the same period last year. Meanwhile, LANDBANK’s Digital On-Boarding System (DOBS)—the first online account opening portal among universal banks in the Philippines introduced in November 2018—has facilitated the opening of 1.67 million deposit accounts as of June 30, 2021, which includes accounts opened for Overseas Filipino Bank (OFBank) depositors. Just recently, LANDBANK also launched the DOBS Mobile, which facilitates online savings account opening in as fast as 10 to 15 minutes. The LANDBANK DOBS Mobile eliminates the need to line up in branches to open an account, in support of the National Government’s Ease of Doing Business (EODB) initiative, as well as safety protocols amid the ongoing pandemic. LANDBANK also continues to waive fees for inter-bank fund transfers via InstaPay and PESONet for retail clients until September 30, 2021. For more information about LANDBANK’s e-Banking products and services, clients may visit the Bank’s official website (www.landbank.com), or follow the Bank’s official social media channels at @landbankofficial on Facebook and Instagram, @LBP_Official on Twitter, and @LANDBANK on Viber.

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LANDBANK greenlights P1.8-B in loans for 849 modern jeepneys

State-run Land Bank of the Philippines (LANDBANK) continues to support the National Government’s push for a safer and modernized transport system, by extending P1.8 billion in loans for the acquisition of modern jeepneys. As of June 30, 2021, LANDBANK has provided financial support to 43 public transport cooperatives and corporations for the purchase of 849 modern public utility jeepneys (PUJs) through the SPEED PUV Program (Special Package for Environment-Friendly and Efficiently-Driven Public Utility Vehicles). Another 46 accounts are being processed with total loan application amounting to P4.25 billion to procure 1,833 units of modern jeepneys. The third generation of what used to be service vehicles of US servicemen dating back to the 1940s, the new jeepneys now feature air-conditioning, Wi-Fi connectivity, GPS tracking, CCTV cameras, speed limiters, and contactless payment systems. In partnership with the Department of Transportation (DOTr) and the Land Transportation Franchising and Regulatory Board (LTFRB), the SPEED PUV Program directly supports the Public Utility Vehicle Modernization Program (PUVMP) by offering affordable financing to help transport cooperatives and corporations purchase modern PUJs. “We are working closely with the DOTr and LTFRB to assist jeepney drivers and operators purchase environment-friendly and efficiently-driven PUJs. Rest assured that LANDBANK will continuously support the transport sector towards building a safer and modernized transport system for the benefit of public transport players and commuters,” said LANDBANK Branch Banking Sector Head, Executive Vice President Julio D. Climaco, Jr. Under the SPEED PUV Program, eligible borrowers may loan up to 95% of the PUJ’s total cost at an affordable interest rate of 6% per annum, payable based on cash flow but not to exceed a maximum of seven (7) years. LANDBANK is also supporting efforts to modernize public utility buses (PUBs) through the I-RESCUE for BUS Transport (Interim REhabilitation Support to Cushion Unfavorably-affected Enterprises by Covid-19 for Better Urban Services Transport) Lending Program. Launched in 2020, the I-RESCUE for BUS Transport Program offers affordable financing to help public transport cooperatives and corporations purchase modern PUBs, in support of the Metro Manila Bus Modernization Program of the DOTr and LTFRB. Qualified transport cooperatives and corporations may borrow up to 80% of the PUB’s unit cost, at an affordable fixed interest rate for the first three (3) years, payable up to a maximum of seven (7) years, inclusive of a two-year grace period on principal. Interested borrowers of LANDBANK’s SPEED PUV and I-RESCUE for BUS Transport Programs may contact the nearest open LANDBANK Lending Center or Branch nationwide, or call LANDBANK’s customer service hotline at (02) 8-405-7000 or at PLDT Domestic Toll Free 1-800-10-405-7000. For more updates, please Follow, Like and Share the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), and join our Viber community (@LANDBANK), or visit the LANDBANK website (www.landbank.com).

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LANDBANK credit support to PH coconut sector reaches P4.27 billion

The Land Bank of the Philippines (LANDBANK) continues to extend available and responsive credit assistance to coconut farmers and other industry stakeholders engaged in the production and processing of coconut-based products. Under its Coconut Production and Processing Financing (Coco-Financing) Program, which has been in place since 2015, LANDBANK has cumulatively released P4.27 billion in loans that supported a total of 16 borrowers and 2,601 coconut farmer-beneficiaries. The borrowers are composed of six (6) large enterprises/corporations, four (4) small and medium enterprises (SMEs), three (3) cooperatives, two (2) associations and one (1) non-governmental organization (NGO)—of which nine (9) have outstanding balance of P1.78 billion. The LANDBANK Coco-Financing Program was developed to finance projects such as planting or replanting, rehabilitation, fertilization and processing of coconuts and its by-products. As of June 30, 2021, LANDBANK’s total loans to the agriculture sector reached P223.02 billion. Of this amount, P17.39 billion supported crop production of which P340 million covered financing for the coconut industry. Positive outlook on the UCPB merger LANDBANK remains optimistic in managing the implications of its impending merger with the United Coconut Planters Bank (UCPB) to its financial profile, as it looks ahead in providing more support interventions for the Philippine coconut sector. Based on LANDBANK’s projections on the merger, Common Equity Tier 1 (CET1) ratio by end-2021 will remain higher than the 11% regulatory requirement of the BSP. CET1 ratio is used to measure a bank's core equity capital, compared with its total risk-weighted assets, and signifies a bank's financial strength. The Bank also maintains it is more than capable of absorbing the financial impact of the merger since the acquisition of the shares of stock and attendant absorption of UCPB’s assets and liabilities will similarly expand deposits, loans, and capital. Projections from LANDBANK indicate that the combined resources of the state-run banks will amount to almost ₱3 trillion in assets by the end of the year, further solidifying LANDBANK’s position as the second-largest bank in the country in terms of assets. President Duterte has issued Executive Order No. 142 on June 25, 2021, authorizing the merger between LANDBANK and UCPB, where LANDBANK will be the surviving entity. “The mandate of LANDBANK has continuously evolved over the years. Aside from assisting farmers of palay, coconut and other crops, fishers, and all stakeholders in the agri-business value chain, LANDBANK has become a reliable contributor to the National Government’s development agenda towards supporting other key economic sectors that promote nation-building. LANDBANK’s merger with UCPB only enhances our capacity to serve the whole agriculture sector and the nation at large,” said LANDBANK President and CEO Cecilia C. Borromeo. Interested borrowers of the LANDBANK Coco-Financing Program may contact the nearest open LANDBANK Lending Center or Branch nationwide, or call LANDBANK’s customer service hotline at (02) 8-405-7000 or at PLDT Domestic Toll Free 1-800-10-405-7000. For more updates, please follow the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), and Twitter (@LBP_Official); join our Viber community (@LANDBANK); or visit the LANDBANK website (www.landbank.com).

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