Government-owned Land Bank of the Philippines recorded solid growth in the first quarter of the year, with higher net income of P4.75 billion and double digit growth in loans, assets and deposits. The Bank’s net income for the three-month period is up by 12% from P4.26 billion in the same period last year. This is also 14% higher than the Bank’s first-quarter income target of P4.16 billion. Return on equity for the quarter was at 13.04%, while net interest margin stood at 3.42%, both above the latest industry averages. LANDBANK President and CEO Cecilia C. Borromeo attributed the strong first-quarter performance to substantial increase in income from loans and investments. Interest income on loans jumped 69% as the Bank’s gross loan portfolio grew to P867.32 billion from P708.10 billion in March 2018. Meanwhile, income from investments in financial assets grew by 43% to P6.36 billion from P4.44 billion. The Bank’s total assets likewise increased by 16% to P1.89 trillion from P1.63 trillion, while deposits grew by 17% to P1.68 trillion from P1.44 trillion in March last year. Total capital stood at P136.47 billion, a 26% increase from last year’s P108.37 billion. Borromeo said that this puts LANDBANK in a good position to further drive support for its priority sectors, especially to farmers and fishers, microenterprises and SMEs, agribusiness and other development players. “We work hard to maintain the Bank’s sound financial position as the profits from our commercial banking operations allow us to move toward our bigger mission of promoting inclusive growth, especially in areas where financial services are not easily available or accessible,” said Borromeo, who added that the Bank is continuously investing on technology to pursue its inclusive growth thrust and to provide greater convenience to clients. LANDBANK recently opened its 400th branch in Jagna, Bohol – marking its continuing expansion efforts to bring access to financial services and credit assistance, especially to the unbanked and underserved areas in the country. The Bank’s 400 branches are supplemented by 49 Branch-Lites, 44 Lending Centers and 2,018 ATMs all over the country. It targets to bring its total number of branches to 410 by the end of the year.
READ MOREWith the theme “Celebrating Excellence in Public Frontline Service”, the Civil Service Commission (CSC) conferred the award to LANDBANK for quality customer service in compliance to the provisions of the ARTA at the forefront, and for obtaining a 99% rating in the ARTA Report Card Survey.
READ MOREFrom left) Dr. Anthony Damalerio, Head of Bohol Provincial Disaster Risk Reduction Management Office (representing Bohol Governor Edgar Chatto), LANDBANK President and CEO Cecilia C. Borromeo, and Jagna Mayor Bonifacio J. Virtudes, Jr. lead the ribbon cutting at the inauguration of the Bank’s branch in Jagna, Bohol – its 400th branch in the country. They are joined by LANDBANK Branch Banking Sector Head Executive Vice President Liduvino S. Geron and First Vice President Delma Bandiola. LANDBANK recently marked a milestone as it opened its 400th branch in Jagna – a third-class municipality in the province of Bohol. The opening of its 400th branch marks the Bank’s continuing expansion program to bring access to financial services and credit assistance especially to the unbanked and underserved areas in the country. “With LANDBANK’s presence here, we can help not only with your banking requirements, but also in promoting local businesses – microenterprises, cooperatives and SMEs that drive the local economy,” said LANDBANK President Cecilia C. Borromeo during the opening ceremony. Gracing the occasion were Jagna Mayor Bonifacio J. Virtudes, Jr. and Dr. Anthony R. Damalerio, Head of the Provincial Disaster Risk Reduction Office. Mayor Virtudes thanked the management of LANDBANK for making Jagna the home of its 400th branch. “Your social mandate of promoting countryside development in the economic and financial growth of Jagna clearly coincides with the vision of the municipality which is “Livable Jagna for Future Generations”, he said. Dr. Damalerio, who represented Bohol Governor Edgar M. Chatto, welcomed the establishment of LANDBANK Jagna Branch that completes the availability of formal banking services in all three districts in Bohol. The Bank has another branch in Talibon and two branches in Tagbilaran City. LANDBANK likewise hopes to partner with the Municipal Government of Jagna for its development projects, especially as it seeks to put Jagna in the Bohol tourism roadmap and further generate local employment. “This is the overall objective of our continuing expansion program – to bring access to financial service and credit assistance especially to the unbanked and underserved sectors of our society, so they too can be included and become active players in development,” Borromeo added. LANDBANK’s 400 branches are supplemented by 49 Branch-Lites and 2,018 ATMs all over the country. This year, the Bank sets out to further expand its reach as it targets to bring its total number of branches to 410.
READ MORECamarines Sur Provincial Administrator Fortunato Peña and LANDBANK First Vice President Lou Villafranca led the turnover of water filtration kits to Usman-hit areas in Albay and Camarines Sur. They were joined by LANDBANK Tabaco Branch Manager Emmanuel Hizola, Iriga Branch Manager Emmanuel Avengoza, Sipocot Branch Manager Ma. Cristina Jusi, and Pili Branch Manager Marivic Oliva. Over 6,000 residents from Albay and Camarines Sur were given access to clean drinking water through LANDBANK’s Gawad KATUBIGAN (KAakibat na TUlong sa Bayan sa Inumung KailanGAN). Last March 2019, LANDBANK successfully turned over 60 water filtration units to Bicolanos devastated by Typhoon Usman, a natural disaster that hit the country late last year with Albay and Camarines Sur among those heavily affected. LANDBANK First Vice President for Southeast Luzon Branches Group Marilou Villafranca also turned over LANDBANK’s donation of Php1,215,000 as financial aid to the provinces of Camarines Sur and Albay. This will benefit 16 cities/municipalities. Gawad KATUBIGAN The Gawad KATUBIGAN is the Bank’s way to reach out to more Filipinos in remote areas who do not have access or have limited access to potable water. Implemented in partnership with W4W Philippines, Gawad KATUBIGAN is one of the Bank’s Corporate Social Responsibility Programs, which started as a small disaster response project in 2015. Its primary objective was to provide water filtration systems to typhoon-hit areas and hard-to-reach communities that need access to clean and safe drinking water. The Project has since been expanded into a full-blown program with three components: a “Disaster Response Component” through which water filter systems are provided to calamity-stricken areas; a “Disaster Preparedness Component” which provides rain catchment systems and disaster preparedness training to communities in disaster-prone areas; and a “Needs-based Component” wherein LANDBANK, upon the endorsement of its branches nationwide, provides rain catchment and filtration systems to far-flung communities with limited or no access to clean drinking water. Accredited by the Department of Health, the water filtration systems have the ability to remove 99.99% of bacteria that cause water-borne diseases such as cholera, salmonella, E. coli, among others. Each water filtration system, which can filter one million gallons of water, can provide clean drinking water for 100 people a day and can last for five to 10 years, if properly maintained.
READ MOREThe Land Bank of the Philippines dedicates its recent “Bank of the Year” win to its clients and partners who are instrumental in its continued growth.
READ MORELANDBANK President and CEO Cecilia C. Borromeo (second from left) receives the award from Nahlaa Al-Hammadi, Director General of the Oman Ministry of Commerce and Industry. With them are ADFIAP Chairman Mr. Phub Dorji (second from right) and Oman Development Bank CEO Dr. Abdulaziz Mohammed Al-Hinai. LANDBANK’s Volunteerific Program was recognized as an Outstanding Development Project under the Corporate Social Responsibility category of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) Awards 2019. It is among the 29 development programs recognized by the ADFIAP in recent ceremonies held in Oman. Public service is second nature to Landbankers – as employees of a government institution with a unique social development mandate. The organization’s strong spirit of volunteerism is a concrete manifestation of its brand of service culture. The Volunteerific Program was institutionalized as a vital component of the Bank’s core value of social responsibility. It allows employees to not only participate in the Bank’s Corporate Social Responsibility (CSR) programs but also initiate their own volunteerism activities and consequently inspire others to be more socially aware and responsible. In 2018, the Volunteerific Program engaged a total of 86.23% or 8,158 out of the 9,482 Landbankers nationwide to participate in and initiate their own volunteer activities – with the most number of total volunteer hours clocked in at around 46 hours. More than 500 activities were conducted by Landbankers all over the country last year, including watershed adoption; solid waste management and water quality improvement initiatives for coastal areas and other water tributaries; repair and repainting of schools; and skills and knowledge sharing to indigent communities. By voluntarily donating a portion of their salaries every year, Landbankers also help fund the Bank’s Gawad Patnubay Scholarship Program (GPSP) which supports the education of more than 100 scholars taking-up agriculture and agriculture-related courses in college. LANDBANK volunteers also dedicate their free time as trainers under the Education-to-Employment (E2E) Internship component of GPSP. The E2E gives graduates opportunities to develop professional strengths through seminars and hands-on field training—all geared toward helping them ease into agriculture-related professions. Landbankers also champion environmental sustainability with initiatives such as the LANDBANK Ecobrick program which fosters the practice of ecobricking among the Bank’s employees. In 2018, the program produced 3,500 ecobricks from 900,000 grams of plastic waste, making LANDBANK the top ecobricking community in the world. To date, the Volunteerific activities of Landbankers continue to multiply and are creating extensive impact on communities near and far. More than just providing dole-outs the Program has provided the Bank’s employees with avenue to share their time and extend wholehearted service to communities in need. Recognitions Since 2016, the Program has won for the Bank several awards and commendations. In LANDBANK was recognized by the Philippine National Volunteer Service Coordinating Agency (PNVSCA) under the National Economic and Development Authority (NEDA) as the only government agency with an established volunteerism program for employees, and was conferred the National Outstanding Volunteer Award for the Corporate-Institution category last December 2018. The program also bagged an Award of Excellence in Communication Management: Community Relations category of the 2018 Philippine Quill Awards.
READ MORETupi Mayor Reynaldo Tamayo Jr. and spouse Mrs. Rochelle Tamayo (fourth and fifth from left) pose with LANDBANK President and CEO Cecilia C. Borromeo (third from left), Executive Vice President for Branch Banking Liduvino Geron (left-most), and First Vice President for East Mindanao Branches Group Camilo Leyba (fifth from right). With them are Tupi Branch Head Mary Beth Kalabud (second from left), Vice Mayor Noel Escobillo (third from right) and other Tupi LGU officials. Tupi, South Cotabato Mayor Reynaldo Tamayo Jr. and LANDBANK President and CEO Cecilia C. Borromeo led the inauguration of the Bank’s new branch in Tupi located at the Municipal Hall Compound in Barangay Poblacion. This was Mrs. Borromeo’s first branch inauguration since she re-joined LANDBANK as its President and CEO last March 1. “The opening of this new branch forms part of our aggressive thrust to expand our network as we seek to bring banking services closer to our clients,” said Borromeo. LANDBANK Tupi Branch is the first commercial bank in the municipality, and is the Bank’s 10th in the province. This brings its nationwide branch network to 398, which is targeted to reach 410 by the end of the year – with 12 more new branches in the pipeline. Digitization thrust In line with LANBANK’s commitment to provide accessible and responsive customer service, Borromeo said among the Bank’s priority thrusts this year is to improve branch operations through digitization. Part of the Bank’s efforts towards digitization is the implementation of the Digital Onboarding System (DOBS), a web application it launched in 2018 that enables clients to accomplish account enrolment forms online, thereby shortening account opening time. Within four months of implementation, DOBS is now utilized in 104 of the Bank’s branches across the country which reported significant reduction in account opening time from 30 minutes to 10-15 minutes. The Bank targets full implementation of DOBS Phase 1 to all its branches by third quarter of the year. DOBS Phase 2 will link the system to the Bank’s website which will allow individual (including Overseas Filipinos) and institutional clients to fill out account opening forms and upload IDs and documents online, prior to proceeding to the branch to complete the account opening process. The implementation of DOBS makes LANDBANK the first universal bank in the country that offers this service to both individual and institutional clients, including government agencies. Borromeo further urged the local government of Tupi and other clients of the branch to avail of the LANDBANK Link.Biz Portal, especially this tax payment season. Link.Biz Portal is an electronic payment facility that allows payment for taxes, application fees, and other dues and charges in government and non-government institutions. “These are just some of our initiatives but we will continue to make the best use of technology to streamline our processes, improve operational efficiency, and provide our clients with faster, safer and more convenient service,” Borromeo added.
READ MORELANDBANK bagged three major awards at the recently held International Banker Banking Awards in London including the Best Commercial Bank.
READ MORELANDBANK Executive Vice Presidents Alan V. Bornas (third from left) and Julio D. Climaco, Jr (rightmost) receive the Asia’s Most Inclusive Bank award during the 2019 IDC FIIA awarding ceremony at the Marina Bay Sands Convention Center, Singapore. LANDBANK was named “Asia’s Most Inclusive Bank” at the 2019 Financial Insights Innovation Awards (FIIA) held recently at the Marina Bay Sands Convention Center, Singapore. The award was conferred by International Data Corporation to recognize the best-in-class technology initiatives of financial institutions in Asia and the Pacific. The Bank was recognized for its Digital Onboarding System (DOBS), a web application it launched in 2018 to reduce account opening time and simplify the account enrolment process for clients. Within four months of implementation, the System is now utilized in 64 of the Bank’s branches across the country which reported significant reduction in account opening time from 30 minutes to 10-15 minutes. The implementation of DOBS makes LANDBANK the first universal bank in the country that offers full digital account opening to both individual and institutional clients, including government agencies. The System is also designed to ensure the Bank’s compliance to regulatory requirements in terms of data quality as it allows immediate capturing and validation of complete account-opening data and enables easy storage and retrieval of digital records. Bringing innovative banking to the countryside “This Project is a significant step towards streamlining our processes and making our branches more IT-centric. DOBS will likewise play a central role in bringing our services to more unbanked and unserved areas, as we pursue our vision of promoting inclusive growth in the countryside,” said LANDBANK Executive Vice President Alan Bornas, who received the award in a ceremony held as part of the Asian Financial Services Congress in Singapore. Being the only Bank present in all of the country’s provinces, LANDBANK, through DOBS, can further make financial services accessible and available to more Filipinos in far-flung areas. The Bank aims a full implementation of DOBS Phase 1 to all its branches by third quarter. Phase 2, on the other hand, is set to be implemented by July 2019, which will banner additional features such as: 1) Client on-boarding without going to a branch; 2) Accessibility feature for OFWs, and; 3) Updating of customer information, among others. Out of 110 entries, LANDBANK is one of the 13 awardees and the only Philippine bank recognized in this year’s FIIA.
READ MORELANDBANK was conferred with Outstanding Development Project under the Financial Inclusion category for the LANDBANK Financial Inclusion Caravan by the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP).
READ MOREAs of Tue, May 13, 2025
| Buying | Selling | |
|---|---|---|
| USD | 55.4 | 56 |
| JPY | 0.368188 | 0.383152 |
| EUR | 60.582563 | 63.046928 |
| GBP | 71.954083 | 74.881016 |
| HKD | 7.082795 | 7.625072 |
As of Fri, May 9, 2025
| UITF | NAVPU |
|---|---|
| Cash Management Fund | 1.559832 |
| Money Market Fund | 1.312666 |
| Money Market Plus Fund | 1.225039 |
| PERA Money Market Fund | 1.024898 |
| Medium-Term Bond Fund | 2.472054 |
| Bond Fund | 2.03555 |
| PERA Bond Fund | 1.207998 |
| Balanced Fund | 2.6614 |
| Growth Fund | 2.619604 |
| Alpha Equity Fund | 3.074968 |
| Blue Chip Equity Fund | 0.975735 |
| Equity Fund | 0.803535 |
| High Dividend Equity Fund | 1.018337 |
| US$ Money Market Fund | 1.433429 |
| Global $ Fund | 1.527149 |
