LANDBANK-backed Agsirab Multi-Purpose Cooperative (MPC) continues to expand its lending operations while venturing into farm machinery rental, calabasa pancit production, and bakery business. The Capiz-based co-op currently has a membership base of more than 450 agrarian reform beneficiaries, farmers, and indigenous people. DUMARAO, Capiz – Agrarian reform beneficiary (ARB) Evelyn F. Bardies, a mother of four, toils on her awarded land to meet the daily needs of her family. It did not help that she used to rely on local dealers and traders to finance her farm input requirements for corn production. From the mountain barangay of Agsirab, she needed to travel back and forth to Roxas City to process her loan applications and deal with delayed transactions that unfavorably affected her farm’s overall productivity. Worse, her loans came with a hefty interest rate of 7% to 10% per month, leaving her with very little profit or sometimes even nothing at all despite all of her hard work. “Mahirap magpabalik-balik sa bayan para makipag-transact sa dealers at traders. ‘Yung iba ay hindi ako pinagbibigyan dahil wala silang tiwala, natatakot sila na baka hindi ako makapagbayad. At dahil sa laki ng interes, maliit lang din yung kinikita ko,” Evelyn recounts. The story of Evelyn mirrors the struggles of other ARBs from Brgy. Agsirab. This dire situation pushed them to form the Agsirab Multi-Purpose Cooperative (MPC) in 2009, to pool resources and provide affordable and accessible credit assistance for its members. They initially chipped in P1,000 each and gathered a total of P25,000 in paid-up capital. They persevered to secure all the necessary permits to establish the co-op, and started gaining the trust of other ARBs, including those who previously had bad experiences in joining unsuccessful cooperatives. Driven by persistence and a determined spirit, the Agsirab MPC has grown into a profitable cooperative with assets reaching over P25 million today. It has likewise expanded its membership to more than 450 ARBs, small-scale farmers, and indigenous people, some from the nearby provinces of Iloilo, Antique and Aklan. The Agsirab MPC found a reliable partner in the Land Bank of the Philippines (LANDBANK) in sustaining and growing its operations. The co-op availed from the Bank an initial credit line of P993,000 in 2012, which eventually increased to P30 million at present due to the co-op’s satisfactory repayment record. Apart from providing loans to its members, the Agsirab MPC has been successful in expanding its services and income-generating portfolio by venturing into farm machinery rental, calabasa pancit production, and bakery business. “Malaking malaki ang naitulong sa amin ng LANDBANK. Dahil sa kanila, nakaahon kami sa hirap at nakapagsimula ng maginhawang buhay. Sana hindi sila magsawang magpaabot ng tulong sa aming kooperatiba,” said Evelyn, who now serves as Agsirab MPC chair. Agsirab MPC Chair Evelyn F. Bardies is able to provide a comfortable life for her family through higher farm productivity and income. With convenient access to affordable credit and modern equipment, members of the Agsirab MPC now enjoy improved farm productivity and income. Evelyn shares that the co-op’s members are able to meet the basic needs of their families and regularly provide meals on the table. Most have been able to save for the construction of their own dream houses and purchase of vehicles. Evelyn herself was able to send her four children to school and give them a comfortable life. She likewise acquired additional agricultural lands and provide employment opportunities for local farm workers. Through the years, LANDBANK has stood side-by-side with the cooperative sector to serve their growth requirements. As of 31 January 2023, LANDBANK’s outstanding loans to the sector have reached P66.6 billion, benefitting over 1,360 co-ops nationwide.
READ MOREBacacay Mayor Armando B. Romano and LANDBANK Senior Vice President Althon C. Ferolino lead the opening of the LANDBANK Bacacay Branch-Lite on 27 March 2023, establishing the very first commercial bank in the municipality of Bacacay, Albay. (Inset) Mayor Romano breaks his piggy bank during the inauguration, which he then deposited to a LANDBANK account. BACACAY, Albay – In line with its thrust to promote inclusive economic growth, the Land Bank of the Philippines (LANDBANK) established the first-ever commercial bank in this 2nd class municipality. LANDBANK officially opened its Bacacay Branch-Lite on 27 March 2023 in Barangay 11 to cater to the banking needs of residents in the town’s 56 barangays, as well as the nearby municipalities of Malilipot and Sto. Domingo. Bacacay Mayor Armando B. Romano and LANDBANK Senior Vice President Althon C. Ferolino led the opening of the Branch-Lite, together with Malilipot Mayor Cenon Volante and other local government officials. They were joined by LANDBANK Bacacay Branch-Lite Head Vincent Villar, current and former Tabaco Branch Heads, Marivic R. Nuñez and Emmanuel B. Hizola, respectively, and Legazpi Branch Head Assistant Vice President Cesar A. Ramirez. “Napakalaki po ng matitipid ng Bacacayanos with the opening of a LANDBANK Branch-Lite here in our municipality. With this, we hope to encourage our constituents to open formal bank accounts and establish a savings fund for their future,” said Mayor Romano. To set an example for his constituents, Mayor Romano opened his personal piggy bank during the inauguration and deposited his savings to a LANDBANK account, becoming the very first depositor of the Branch-Lite. The newly inaugurated Branch houses one automated teller machine (ATM) and one cash deposit machine (CDM) to cater to the cash requirements of local residents, including more than 7,600 beneficiaries of the Conditional and Unconditional Cash Transfer (CCT/UCT) programs of the Department of Social Welfare and Development (DSWD), as well as government employees and students, among others. To help simplify the account enrolment process and reduce the account opening time of customers, the LANDBANK Bacacay Branch-Lite also features a Digital Corner where customers can open a deposit account using the Bank’s Digital Onboarding System (DOBS). With the opening of its Branch-Lite in Bacacay, LANDBANK now has seven Branch and Branch-Lite units in the Province of Albay – two (2) in Legazpi City, one (1) each in the cities of Ligao and Tabaco and the municipalities of Daraga and Polangui, complemented by 43 ATMs and four CDMs.
READ MORE(left photo) A market vendor at the Bacolod Libertad Market in Bacolod City now accepts payments through a Quick Response (QR) code powered by LANDBANK. (right photos) LANDBANK joins the Bangko Sentral ng Pilipinas (BSP) and the Department of Interior and Local Government (DILG) in the rollout of the “Paleng-QR Ph Plus” program in various public markets nationwide to facilitate on-the-spot bank account openings. The Land Bank of the Philippines (LANDBANK) continues to accelerate the adoption of cashless payments in public markets by providing market vendors, consumers, and local transport drivers with bank accounts capable of sending and receiving funds through Quick Response (QR) code. This is in support of the “Paleng-QR Ph Plus” initiative of the Bangko Sentral ng Pilipinas (BSP) and the Department of Interior and Local Government (DILG), designed to institutionalize the use of digital payments in public markets, local transportation particularly tricycles, and other business establishments. “LANDBANK joins the BSP and DILG in making daily transactions in public markets and small transport utilities seamless and more convenient. This also encourages ordinary Filipinos to open a bank account and avail of other financial services in pursuit of inclusive growth and development,” said LANDBANK President and CEO Cecilia Cayosa Borromeo. Since the program’s launch in August 2022, the Bank has facilitated account openings for market vendors and goers, as well as local transport drivers, from the country’s major public markets. These include the Baguio City Public Market in Baguio City, Bankerohan and Toril Public Market in Davao City, Tagbilaran Central Market in Tagbilaran City, Lapu-Lapu City Public Market in Cebu, Plaza Quezon in Naga City, Alabang New Central Market in Muntinlupa City, Pasig Mega Market in Pasig City, and Bacolod Libertad Market in Bacolod City. LANDBANK takes part in the rollout of the “Paleng-QR Ph Plus” program by setting up customer assistance booths in various public markets to facilitate on-the-spot account openings for market vendors. The type of accounts that may be opened include the LANDBANK regular savings account, the PISO (Perang Inimpok Savings Option) account with a minimum initial deposit of only P1.00, and the VISA e-Savings Debit Account with no minimum initial deposit. Successful merchants and vendors are provided with printed QR codes to be displayed or hanged at their stalls, which LANDBANK and non-LANDBANK consumers can scan to conveniently pay for goods in real-time. This arrangement makes the whole payment process convenient, faster, cost-effective, and more secure. This April, the state-run Bank will also be supporting the upcoming rollout of the “Paleng-QR Ph Plus” program in major public markets in Carmona in Cavite, Sto. Tomas City in Batangas, Iloilo City and Davao City.
READ MOREState-owned Land Bank of the Philippines (LANDBANK) recently joined the “Lakbay Palay” event organized by the Department of Agriculture-Philippine Rice Research Institute (DA-PhilRice) in the Science City of Muñoz, Nueva Ecija, to promote the Expanded Rice Credit Assistance under the Rice Competitiveness Enhancement Fund (ERCA-RCEF). During the two-day event, LANDBANK’s RCEF beneficiary Nariza B. Tan of Zaragoza, Nueva Ecija shared her experiences as the RCEF reached its fourth year of implementation. “Nakatulong ang pautang na aking na-avail mula sa RCEF dahil natustusan ko ang pangangailangan sa aking palayan. Sa dating 120 cavans per hectare, nadagdagan ng 30 cavans per hectare and aking ani. Mura pa ang interes sa 2% kada taon,” said Tan. The DA-PhilRice also launched the “Bantay Palay” Mobile App, which can monitor the prices of rice in real time. Certified inbred rice seeds were also distributed to farmers during the event. As of February 2023, LANDBANK has provided P1.9 billion funding support to 204 cooperatives and 12,086 individual farmers in 29 provinces covered by the Bank under the ERCA-RCEF. Through PhilRice and the Philippine Center for Postharvest Development and Mechanization (PhilMech), the RCEF has also provided 12 million sacks of seedlings to about one million farmers, and distributed 22,306 farm machineries to 7,136 farmers’ cooperatives and associations in 57 provinces nationwide.
READ MOREALL CONNECTED: Quirino Governor Dakila Carlo “Dax” Cua takes a selfie with students from the Quirino General High School, who will soon benefit from the Province’s free public Wi-Fi project financed by the Land Bank of the Philippines. (Photo courtesy of the Provincial Government of Quirino) QUIRINO Province – When the COVID-19 pandemic abruptly forced schools to halt face-to-face classes and shift to online learning, the need for improved access to online learning resources became more pressing. Among those who struggled to cope with this set-up were students and teachers belonging to marginalized and rural areas in the Province of Quirino, as many of them did not have access to reliable and high-speed internet connection. To address this gap, the Provincial Government of Quirino under the leadership of Governor Dakila Carlo E. Cua sought the assistance of the Land Bank of the Philippines (LANDBANK) to enhance the internet connectivity and accessibility in the Province. Under the RISE UP LGUs (Restoration and Invigoration package for a Self-sufficient Economy towards UPgrowth for LGUs) Lending Program, LANDBANK approved a P67-million loan to finance the digital infrastructure project of the Quirino LGU, which aims to provide free Wi-Fi in schools and other public areas in the Province in its first phase. The LANDBANK loan covers the procurement of an internet service provider; Wi-Fi equipment such as routers, modems and cables; and the installation of towers, among other provisions. The installation of the Wi-Fi equipment is already underway, with the Quirino LGU prioritizing schools, public markets, rural health units, municipal and barangay halls, and other public spaces to maximize the benefits of the improved internet infrastructure. Once completed this year, the project will provide students and residents with free internet access with speed of up to two gigabytes per second. The free Wi-Fi project is expected to boost education, healthcare, tourism, and public services in the Province by enabling and enhancing access to convenient online platforms. “LANDBANK’s financing facility is a big boost to the initiatives of LGUs. It provides relief to struggling LGUs while we ramp-up our efforts to mitigate the impact of the pandemic,” said Quirino Governor Cua. LANDBANK helps LGUs to rise up Under the RISE UP LGUs Lending Program, LANDBANK has approved loans totaling P113 billion for 408 LGUs as of 28 February 2023, to help ensure the resilient and sustainable recovery of local economies from the pandemic. Provincial, city and municipal governments may borrow from LANDBANK to finance their development and innovative projects geared towards rebuilding their communities and local economies. “LANDBANK continues to support local government partners toward full recovery from the pandemic, while also strengthening their capacity to withstand future crises. We aim to help develop resilient communities as part of our expanded mandate of serving the nation,” said LANDBANK President and CEO Cecilia Cayosa Borromeo. Eligible projects allowed under the Program include the purchase of agricultural produce, acquisition of equipment and construction of facilities to link products to the market, including other programs and projects of the LGU that provide basic and support services, social welfare, healthcare, and other infrastructure activities. LANDBANK has increased the fund allocation for the Program to P150 billion—15 times higher from the initial P10-billion in 2020—to accommodate more LGUs nationwide. The LANDBANK RISE UP LGUs Lending Program will be available until July 2025. Interested LGUs may contact the nearest LANDBANK Lending Center or Branch nationwide, or call LANDBANK’s customer service at (02) 8-405-7000 or at PLDT Domestic Toll Free 1-800-10-405-7000.
READ MORELANDBANK President and CEO Cecilia Cayosa Borromeo (2nd from right) leads the launching of the new LANDBANK ANTI BILL SHOCK Lending Program, designed to provide financing to electric distribution companies while cushioning households from paying higher electricity bills. She is joined by Energy Regulatory Commission (ERC) Chairperson Atty. Monalisa C. Dimalanta (3rd from right), National Electrification Administration (NEA) Deputy Administrator Leila B. Bonifacio (leftmost), and LANDBANK Senior Vice President Ma. Celeste A. Burgos (rightmost). Amid forecasts of warmer temperature during the forthcoming dry season, the Land Bank of the Philippines (LANDBANK) is launching a new initiative that aims to cushion consumers from paying higher electricity bills due to the expected increase in power consumption. Under the ANTI BILL SHOCK Lending Program, LANDBANK will provide financing to electric distribution companies at concessional rates with no additional spread on their working capital. This arrangement will enable the distribution companies to spread out the incremental increases in their customer’s billings by up to nine months without passing the borrowing cost to consumers who cannot afford to pay at full cost. Under the short term loan facility, borrowers will also be required to implement an anti-electric bill shock program to protect their respective clients from the expected increase in electricity bills. The ANTI BILL SHOCK Lending Program 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. “LANDBANK aims to provide consumers more breathing room to pay their energy bills by helping prevent a price surge on their monthly expenditures. We are also committed to boosting the capacity of energy players to provide sufficient, accessible and reasonably-priced supply of electricity nationwide,” said LANDBANK President and CEO Cecilia Cayosa Borromeo. President Borromeo led the launching of the ANTI BILL SHOCK Lending Program on 14 April 2023 at the LANDBANK Plaza, together with Energy Regulatory Commission (ERC) Chairperson Atty. Monalisa C. Dimalanta and National Electrification Administration (NEA) Deputy Administrator Leila B. Bonifacio. “This is one of the best examples of the beauty of a whole-of-government approach—it’s not just DOE, it’s not just ERC, but also our counterparts in the financing sector. This is really, together, finding solutions for our consumers so that we can provide the much needed relief,” said Chairperson Dimalanta. For her part, Deputy Administrator Bonifacio commended LANDBANK’s continued commitment as a dependable partner of electric cooperatives, in pursuit of the objectives of the rural electrification program. “The launching of your ANTI BILL SHOCK Lending Program is, indeed, a demonstration of your organization’s dynamic initiative to explore all possible opportunities to aid the energy sector, where the electric cooperatives belong,” she said. The event was also attended by member-representatives from the Philippine Rural Electric Cooperatives Association Incorporated (PHILRECA) and the Philippine Electric Plant Owners Association (PEPOA), together with LANDBANK Senior Vice President Ma. Celeste A. Burgos and Vice President Esperanza N. Martinez. The state-run Bank has initially allocated P1.5 billion for the lending program. Power distributors may loan up to 80% of the incremental increase on the working capital requirement 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. 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.
READ MORELAND BANK JOINS TRUST CONSCIOUSNESS WEEK 2023 The Land Bank of the Philippines (LANDBANK) supports the annual observance of Trust Consciousness Week from 17 to 21 April 2023, organized by the Trust Officers Association of the Philippines (TOAP). This year's theme, "Trust: Looking Forward to Opportunities for Growth," aligns with our commitment to build trust and provide exceptional financial services to our clients. As we take part in this observance, LANDBANK reaffirms its commitment to providing safe and reliable investments and financial solutions to our valued clients.
READ MORE(seated) LANDBANK Assistant Vice President Lilibeth D. Alvarez (2nd from left) and T’Boli Farm Growers Multi-Purpose Cooperative (TFGMPC) Chairwoman Jocelyn S. Serofia (3rd from left) lead the ceremonial signing of a P224-million credit agreement to increase the co-op’s production of pineapple fruits and fibers. Joining them are TFGMPC Manager Adolfo D. Tanco, Jr. (rightmost) and Treasurer Arcadio L. Adelantar III (leftmost), alongside TFGMPC Board members and LANDBANK staff as witnesses. T’BOLI, South Cotabato — In line with its intensified support to the agriculture sector, the Land Bank of the Philippines (LANDBANK) recently granted a P224-million loan assistance to the T’Boli Farm Growers Multi-Purpose Cooperative (TFGMPC) to further expand the cooperative’s production of pineapples and pineapple fibers. Bulk of the LANDBANK loan amounting to P180 million will augment the co-op’s working capital requirements for the procurement of farm inputs and other costs to boost pineapple production. Meanwhile, TFGMPC will utilize P34 million to acquire farm machineries and post-harvest facilities for hauling and land preparation, such as tractors, service vehicles, trucks, and a backhoe loader. The remaining P10 million will be used to increase the volume of pineapple fibers that the co-op is exporting to the United Kingdom, which are used to manufacture pineapple leather material for shoes, bags and other accessories. “LANDBANK continues to intensify its lending support to the agriculture sector, especially farmers in the Mindanao region. LANDBANK is committed to deliver timely and responsive support to expand their operations and boost their production and income," said LANDBANK President and CEO Cecilia Cayosa Borromeo. LANDBANK South Cotabato Lending Center Head, Assistant Vice President Lilibeth D. Alvarez and TFGMPC Chairwoman Jocelyn S. Serofia led the ceremonial loan signing, together with TFGMPC Manager Adolfo D. Tanco, Jr., Treasurer Arcadio L. Adelantar III, alongside TFGMPC Board members and LANDBANK staff as witnesses. LANDBANK has been a long-time development partner of TFGMPC spanning 28 years, with the latest loan to benefit the co-op’s 991 farmer-members operating in a total of 1,041 hectares of farmland in the municipalities of T’boli, Surallah, Lake Sebu and Banga. The TFGMPC started in 1993 with only 17 members primarily to cater to the financing requirements of farmers engaged in pineapple production. In 1995, the co-op operated through a pineapple contract growing scheme with the T’boli Agro-Industrial Development, Incorporated (TADI), with the successful partnership translating into a 400 hectare-plantation, supported by a P20-million loan line from LANDBANK. In 2004, Dole Philippines, Inc. (Dolefil) took over TADI’s operations and became the marketing arm of the co-op’s produce. Over the years, TFGMPC has ventured into pineapple fiber production after the Department of Agriculture (DA), through the Philippine Fiber Industry Development Authority (PhilFIDA), awarded the co-op five decorticating machines. With a stable market and reliable financing from LANDBANK, the TFGMPC continues to expand its operations and shares their success with local communities by conducting feeding programs, reforestation, and nursery activities, as well as granting of scholarships for students.
READ MOREThe Land Bank of the Philippines (LANDBANK) is supporting the Provincial Government of Pangasinan with a P6-billion loan to fast-track various priority transportation, health, education, tourism development and urban township projects of the Province. Majority of the P6 billion omnibus term loan agreement worth P2.85 billion will fund big-ticket infrastructure projects designed to enhance mobility and upgrade healthcare services in Pangasinan. Terminals, land ports, and bus stops will be built along the Pangasinan Link Expressway (PLEX) to complete an intermodal transportation system, designed to promote better mobility to local tourist destinations. Also in the pipeline are the construction of seaports, the expansion of the Lingayen Airport, and the construction of a new airport in Bani which will support a salt farm resort likewise to be developed. The LANDBANK loan will also cover the establishment and upgrading of provincial hospitals in the city of Urdaneta, and the municipalities of Lingayen, Tayug, San Carlos, Binalonan and Umingan. “The P6-billion loan is in full support of Pangasinan’s development agenda towards a more inclusive, resilient, and sustainable local economy. This investment also underscores LANDBANK’s collaborative efforts for the province’s growth trajectory anchored on the efficient delivery of public service,” said LANDBANK President and CEO Cecilia Cayosa Borromeo. LANDBANK will also provide financing worth P1.95 billion to boost tourism activities, which include the construction of a new hotel which will carry an international brand, among other resorts for construction, and the development of event and entertainment facilities. The remaining P1.2 billion of the loan is allocated for the establishment of the Pangasinan Polytechnic College and the enhancement of several government centers. Aside from financing support, LANDBANK also opened a Corporate Center in Urdaneta City last year to provide the Province of Pangasinan wider access to convenient and responsive banking services. This year, LANDBANK will further expand its reach in the Province with three new ATMs in Alaminos City, Calasiao, and the unbanked municipality of Mapandan, alongside onboarding one Agent Banking Partner in Urbiztondo.
READ MOREThe Land Bank of the Philippines (LANDBANK) recorded a net income of P10.8 billion in the first three months of 2023, buoyed by higher interest income and lower operating costs. The three-month figure is P2 billion higher than its target for the first quarter and represents 30.8% of the Bank’s P35 billion income target by year-end. The net income recorded for the quarter slipped 18% from the unprecedented P13.2 billion booked in the same period last year, which was propelled by non-recurring miscellaneous income. Interest income from loans and investments rose 54% to P20.9 billion, despite the higher cost of funds due to volume of deposits and rising interest rates. On the other hand, operating expense declined by P797 million. “As we maximize yields from earning assets while being prudent with our expenses, LANDBANK’s robust financial position allows us to advance the National Government’s development agenda. We are fully capable to continue extending intensified support to the agriculture sector and other key economic industries, while driving sustainable growth in local communities,” said LANDBANK President and CEO Cecilia Cayosa Borromeo. In terms of assets, the Bank grew its base by 11.7% to P3.1 trillion as deposits expanded to P2.8 trillion. The government sector remains to be the core depositor of the Bank, contributing 71% of its total deposits. Meanwhile, LANDBANK posted modest capital growth year-on-year at 3.2% to P225.3 billion. This expansion was driven by the Bank’s net income, notwithstanding the dividend remittance to the National Government in June 2022 worth P8.45 billion and the decline in other comprehensive income. The Bank’s financial ratios remain at healthy levels, with a return on equity at 12.46% and net interest margin at 3%.
READ MOREAs of Fri, May 16, 2025
| Buying | Selling | |
|---|---|---|
| USD | 55.45 | 55.95 |
| JPY | 0.375569 | 0.390139 |
| EUR | 61.178427 | 63.552878 |
| GBP | 72.74607 | 75.569483 |
| HKD | 7.076805 | 7.605004 |
As of Thu, May 15, 2025
| UITF | NAVPU |
|---|---|
| Cash Management Fund | 1.560834 |
| Money Market Fund | 1.313483 |
| Money Market Plus Fund | 1.225845 |
| PERA Money Market Fund | 1.025314 |
| Medium-Term Bond Fund | 2.477153 |
| Bond Fund | 2.038708 |
| PERA Bond Fund | 1.205467 |
| Balanced Fund | 2.670118 |
| Growth Fund | 2.62956 |
| Alpha Equity Fund | 3.090066 |
| Blue Chip Equity Fund | 0.986142 |
| Equity Fund | 0.80734 |
| High Dividend Equity Fund | 1.026099 |
| US$ Money Market Fund | 1.434153 |
| Global $ Fund | 1.523621 |
