Land Bank of the Philippines (LANDBANK) President and CEO Cecilia C. Borromeo (4th from left) met with Mandaue City Mayor Jonas Cortes (5th from left) on 15 September 2022, together with a contingent of LANDBANK officials. MANDAUE CITY, Cebu – Land Bank of the Philippines (LANDBANK) President and CEO Cecilia C. Borromeo paid a courtesy visit to Mandaue City Mayor Jonas Cortes on 15 September 2022, in support of the City’s continued progress and growth. The two principals discussed potential areas of collaboration to undertake meaningful development projects, including the proposed construction of the Mandaue City Government Center, envisioned to be a centralized hub for accessible public services. President Borromeo was joined by LANDBANK National Development Lending Sector Head, Executive Vice President Liduvino Geron, Corporate Banking Group Head, Senior Vice President Celeste Burgos, East Visayas Branches Group Head, Senior Vice President Khurshid Kalabud, and Visayas Lending Group OIC, Vice President Allan Bisnar, among other LANDBANK officials. Apart from the LANDBANK Mandaue Branch and Mandaue City Hall Branch, there are 23 LANDBANK ATMs and two (2) Agent Banking Partners in Mandaue City to service banking needs. These are complemented by the LANDBANK Cebu Lending Center in the Municipality of Consolacion to finance development initiatives.
READ MORE(front row) Land Bank of the Philippines (LANDBANK) President and CEO Cecilia Borromeo (5th from left) paid a courtesy visit to Cebu CFI Community Cooperative (Cebu CFI) Chairman Atty. Winston F. Garcia (6th from left) on 15 September 2022. Joining them are Cebu CFI Board of Directors and other LANDBANK senior officials. CAPITOL SITE, Cebu – Top officials from the Land Bank of the Philippines (LANDBANK) visited the Cebu CFI Community Cooperative (Cebu CFI) to reaffirm the Bank’s continued support to the lending cooperative and its members. LANDBANK President and CEO Cecilia C. Borromeo led the contigent on 15 September 2022, together with National Development Lending Sector Head, Executive Vice President Liduvino Geron, Corporate Banking Group Head, Senior Vice President Celeste Burgos, East Visayas Branches Group Head, Senior Vice President Khurshid Kalabud, and Visayas Lending Group OIC, Vice President Allan Bisnar, among other LANDBANK officials. The state-run Bank is set to grant Cebu CFI a new rediscounting loan line facility—while renewing its existing short-term loan line—to strengthen the cooperatives’ relending services for housing and livelihood projects. Cebu CFI serves over 154,700 members nationwide composed mostly of local government employees, teachers, and private employees, with exisiting branches and sattelite offices in Luzon, Visayas, and Mindanao.
READ MOREShop and dine with your Mastercard® credit card and make every swipe extra rewarding. MASTERCARD® 5X Zing Bonus Points: Mechanics 1. To be eligible under this promotion, the following must concur: The customer can be an existing or new Zing Plus Member at the time of the promotion The customer must have completed the registration process under the Zing application to become a Zing Plus Member by linking at least one Philippine issued Mastercard® - branded credit card/s (a maximum of three credit cards may be linked under Zing); The Zing Plus Member must use his/her linked Mastercard® - branded credit card to settle his/her transaction with any of the Zing Participating Merchants; The Zing Plus Member’s transaction in the relevant Zing Participating Merchant must be processed and completed within the relevant promotion period, i.e., from 12:00AM of August 1, 2022 up to 11:59PM of September 30, 2022; and A Zing Plus Member earns one (1) Zing point for every transaction worth Php200.00. With this promotion, a Zing Plus Member can earn an additional four Zing bonus points for every Php 200.00. To be entitled to the additional four bonus points under this promotion, the Zing Plus Member must spend at least Php1,000.00 in a single credit card transaction with any of the Zing Participating Merchants. The bonus points will be awarded to new or existing Zing Plus Member using the linked Philippine issued Mastercard® - branded credit card/s within the relevant promotion period. Regardless of the active and applicable promotions on a given day, a customer can earn a maximum of 500 Zing Points in a single transaction. There is also a maximum of 10,000 points that can be earned in a calendar year for Base Points (non-promotional) and another 10,000 Bonus Points that a customer can earn from sponsored or promotional programs. For this promotion, here are the sample computations of minimum and maximum points that can be earned in different purchase amounts. At minimum spend in Zing Participating Merchants at Ayala Malls: If Spend at Zing Points Points Earned ₱1,000 Base Points 1,000/200 = 5 points 5 points Bonus Points 5 points x 4 = 20 points 20 points Total Points Earned 25 points If spending in Zing Participating Merchants at Ayala Malls will reach the cap of Bonus Points: If Spend at Zing Points Points Cap Points Earned ₱60,000 Base Points 60,000/200 = 300 points 300 points Bonus Points 300 points x 4 = 1200 points capped at 500 500 points Total Points Earned 800 points Earning with multiple promotions reaching cap: If Spend at Zing Points Points Cap Points Earned ₱120,000 Fixed Points 300 points 300 points Base Points 120,000/200 = 600 points capped at 500 500 points Birthday Points (120,000/200) x 1 = 600 points capped at 500 500 points Bonus Points 600 points x 4 = 2400 points capped at 500 500 points Total Points Earned 1800 points Promo Terms & Conditions: 1. This promotion is open to all customers registered as Zing Plus members. 2. The promotion period is from August 15, 2022 until September 30, 2022. The Zing Plus Member’s transaction in the relevant Zing Participating Merchant must be processed and completed within the relevant promotion period, i.e., from 12:00AM of August 15, 2022 up to 11:59PM of September 30, 2022. 3. This promotion may be availed of by Zing Plus Members transacting with ZingMall, Cinemas and Zing Participating Merchants in the following participating Ayala Malls: Mall Name LOCATION 1 Abreeza Davao 2 Alabang Town Center Muntinlupa 3 Ayala Center Cebu Cebu 4 Bonifacio High Street Taguig 5 Capitol Central Bacolod 6 Cebu Central Bloc Cebu 7 Centrio Cagayan de Oro 8 Circuit Makati 9 Cloverleaf Quezon City 10 Fairview Terraces Quezon City 11 Feliz Marikina 12 Glorietta Makati 13 Greenbelt Makati 14 HarborPoint Subic 15 Legazpi Legazpi 16 Manila Bay Paranaque 17 Marikina Marikina 18 Market! Market! Taguig 19 MarQuee Pampanga 20 One Bonifacio High Street Taguig 21 Serendra Taguig 22 Serin Tagaytay 23 Solenad Laguna 24 The 30th Pasig 25 The District Imus Imus 26 Trinoma Quezon City 27 UP Town Center Quezon City 28 Vertis North Quezon City 4. Zing at Ayala Malls shall have a period of 14 days within which to validate the transaction between the Zing Plus Member and the relevant Zing Participating Merchant before the Zing bonus points are awarded. After Zing validates the transaction, the Zing bonus points under this promotion shall be credited to the Zing Plus Member’s account. 5. This promotion may be applied in conjunction with other Zing Bonus Promotions and the Zing Birthday promotion as long as the eligible spend is done within the active period of each promotion. 6. All transactions are subject to the Zing Terms & Conditions a copy of which is accessible through the Zing application and/or at https://www.ayalamalls.com/. 7. Fraud, abuse or any unauthorized action relating to the participation and availment of this promotion will result in the disqualification of the Zing Plus Member from the said promotion. The matter of disqualification is subject to the sound discretion of ACCI. 8. Points Redemption: The Zing Plus Member can use the Zing bonus points earned under this promotion to redeem rewards from the Zing application. Points redemption is subject to the Zing Terms & Conditions accessible through the Zing application or at https://www.ayalamalls.com/. All related provisions of Zing at Ayala Malls shall continue to apply Per DTI Fair Trade Permit No. FTEB-149105 Series of 2022
READ MOREShop and dine with your Mastercard® credit card and make every swipe extra rewarding. MASTERCARD® 500 Zing Bonus Points: Mechanics 1. Zing Plus Members with linked Philippine issued Mastercard® - branded credit cards shall earn 300 Zing Points upon spending at least Php1,500.00 in a single transaction using his/her linked Philippine issued Mastercard® - branded credit card with Zing Participating Merchants and Cinemas in participating Ayala Malls, and ZingMall. This is a fixed-points reward to be awarded ONCE to a new or existing Zing Plus Member upon reaching at least Php1,500 spend for the first during the promotion period. To be eligible under this promotion and earn 300 Zing points, the following conditions must concur: The customer is a new or existing Zing Plus Member at the time of the transaction; The customer must have completed the registration process under the Zing application to become a Zing Plus Member and have linked at least one (1) Mastercard® branded credit card (a maximum of three credit cards may be linked under Zing); The Zing Plus Member must use his/her linked Philippine issued Mastercard® - branded credit card to settle his/her transaction with any of the Zing Participating Merchants and Cinemas in participating Ayala Malls, and ZingMall; and During the promotion period, the Zing Plus Member must spend at least Php1,500.00 in a single credit card transaction with any of the Zing Participating Merchants, Cinemas, and ZingMall. The bonus points will be awarded to the Zing Plus Member upon reaching at least Php1,500 spend for the first time using the linked Mastercard® -branded credit card within the relevant promotion period. For this promotion, here are the sample computations of minimum and maximum points that can be earned in different purchase amounts. At minimum spend in Zing Participating Merchants at Ayala Malls: If Spend at Zing Points Points Earned ₱1,000 Base Points 1,000/200 = 5 points 5 points Bonus Points 5 points x 4 = 20 points 20 points Total Points Earned 25 points If spending in Zing Participating Merchants at Ayala Malls will reach the cap of Bonus Points: If Spend at Zing Points Points Cap Points Earned ₱60,000 Base Points 60,000/200 = 300 points 300 points Bonus Points 300 points x 4 = 1200 points capped at 500 500 points Total Points Earned 800 points Earning with multiple promotions reaching cap: If Spend at Zing Points Points Cap Points Earned ₱120,000 Fixed Points 300 points 300 points Base Points 120,000/200 = 600 points capped at 500 500 points Birthday Points (120,000/200) x 1 = 600 points capped at 500 500 points Bonus Points 600 points x 4 = 2400 points capped at 500 500 points Total Points Earned 1800 points Promo Terms & Conditions: 1. This promotion is open to all customers registered as Zing Plus members. 2. The promotion period is from August 15, 2022 until September 30, 2022. The Zing Plus Member’s transaction in the relevant Zing Participating Merchant must be processed and completed within the relevant promotion period, i.e., from 12:00AM of August 15, 2022 up to 11:59PM of September 30, 2022. 3. This promotion may be availed of by Zing Plus Members transacting with ZingMall, Cinemas and Zing Participating Merchants in the following participating Ayala Malls: Mall Name LOCATION 1 Abreeza Davao 2 Alabang Town Center Muntinlupa 3 Ayala Center Cebu Cebu 4 Bonifacio High Street Taguig 5 Capitol Central Bacolod 6 Cebu Central Bloc Cebu 7 Centrio Cagayan de Oro 8 Circuit Makati 9 Cloverleaf Quezon City 10 Fairview Terraces Quezon City 11 Feliz Marikina 12 Glorietta Makati 13 Greenbelt Makati 14 HarborPoint Subic 15 Legazpi Legazpi 16 Manila Bay Paranaque 17 Marikina Marikina 18 Market! Market! Taguig 19 MarQuee Pampanga 20 One Bonifacio High Street Taguig 21 Serendra Taguig 22 Serin Tagaytay 23 Solenad Laguna 24 The 30th Pasig 25 The District Imus Imus 26 Trinoma Quezon City 27 UP Town Center Quezon City 28 Vertis North Quezon City 4. Zing at Ayala Malls shall have a period of 14 days within which to validate the transaction between the Zing Plus Member and the relevant Zing Participating Merchant before the Zing bonus points are awarded. After Zing validates the transaction, the Zing bonus points under this promotion shall be credited to the Zing Plus Member’s account. 5. This promotion may be applied in conjunction with other Zing Bonus Promotions and the Zing Birthday promotion as long as the eligible spend is done within the active period of each promotion. 6. All transactions are subject to the Zing Terms & Conditions a copy of which is accessible through the Zing application and/or at https://www.ayalamalls.com/. 7. Fraud, abuse or any unauthorized action relating to the participation and availment of this promotion will result in the disqualification of the Zing Plus Member from the said promotion. The matter of disqualification is subject to the sound discretion of ACCI. 8. Points Redemption: The Zing Plus Member can use the Zing bonus points earned under this promotion to redeem rewards from the Zing application. Points redemption is subject to the Zing Terms & Conditions accessible through the Zing application or at https://www.ayalamalls.com/. All related provisions of Zing at Ayala Malls shall continue to apply Per DTI Fair Trade Permit No. FTEB-149105 Series of 2022
READ MORELANDBANK President and CEO Cecilia C. Borromeo (6th from right) and other Bank officers welcome CEO H.E. Dr. Thach Kao (7th from right), Deputy CEO H.E. Lim Ban (8th from right), and other delegates from the Agricultural and Rural Development Bank (ARDB) of Cambodia, including Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) Institute of Development Finance Head Sandra C. Honrado (5th from right), at the LANDBANK Plaza on 24 October 2022. The Land Bank of the Philippines (LANDBANK) recently shared its experiences and best practices in developmental and agricultural finance to delegates from the Agricultural and Rural Development Bank (ARDB) of Cambodia. LANDBANK President and CEO Cecilia C. Borromeo welcomed ARDB CEO H.E. Dr. Thach Kao, Deputy CEO H.E. Lim Ban, and other ARDB delegates, including Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) Institute of Development Finance Head Sandra C. Honrado, at the LANDBANK Plaza on 24 October 2022. "We look forward to opportunities of collaborating with the ARDB of Cambodia towards our shared vision of advancing growth and sustainability strategies that will positively impact our countries and Southeast Asia," said President Borromeo. Other LANDBANK officers welcomed the visitors from Cambodia for their study visit, which include Executive Vice President Alex Lorayes, Senior Vice Presidents Ma. Celeste Burgos and Elcid Pangilinan, as well as Vice Presidents Esperanza Martinez and Sandra Daraman. The delegation from Cambodia was also in the country to attend the 45th ADFIAP Annual Meeting on 26 October 2002 at the Conrad Hotel in Pasay City.
READ MOREAs it celebrates its 60th anniversary this year, the Land Bank of the Philippines (LANDBANK) has adopted new Vision and Mission statements to better reflect the Bank’s commitment to fulfilling its expanded mandate of serving the nation for the next six years. “LANDBANK is driven this year to take on a more prominent role at the forefront of nation-building. Leveraging on innovation, digitalization, and strategic partnerships, we are geared towards the enhanced delivery of accessible, responsive, and meaningful service to our diverse clientele,” said LANDBANK President and CEO Cecilia Cayosa Borromeo. LANDBANK envisions that by 2028, it “shall be at the forefront in nation-building through the promotion of financial inclusion, digital transformation, and sustainable development that benefits all Filipinos,” as the Bank aims “to provide responsive services beyond banking to all clients, publics and stakeholders.” The Bank is likewise focused on its mission to be “the leading universal bank with a government mandate that provides responsive services beyond banking to all clients, publics and stakeholders.” LANDBANK unveiled its new institutional Vision and Mission statements to the public on 14 February 2023, alongside the inauguration of the LANDBANK Leadership and Development Center in Intramuros, Manila, together with the launch of the Bank’s “Iskolar ng LANDBANK” scholarship program. 2023 Targets In support of the National Government’s programs on digital collections and disbursements, LANDBANK is targeting to onboard more local government units as merchants in eGov Pay and the Link.BizPortal, among its other digital channels. This includes growing the number of government and private merchants in the LANDBANK Link.BizPortal to over 1,600 merchants by end-2023. LANDBANK is also looking to grow its digital transactions by 60% in terms of both volume and value, driven by an aggressive expansion of its retail customer base. LANDBANK is also set to establish touchpoints in all 1,634 local government units (LGUs) nationwide, further solidifying its position as the biggest development partner for local and countryside development. The Bank’s network expansion will culminate in 2024 with the establishment of a LANDBANK touchpoint in every municipality in the country in the form of physical branches, Automated Teller Machines (ATMs), Agent Banking Partners (ABPs), Cash Deposit Machines (CDMs), or Point-of-Sale (POS) facilities. As the biggest lender to the agriculture sector, LANDBANK targets to increase the number of small farmers and fishers it has cumulatively assisted to 3.6 million in 2023, among other key players in the agri-business value chain. The state-run Bank is also determined to increase its net income by at least 16% to P35 billion, by optimizing resources, maximizing yields from earning assets, generating return from non-earning assets, and expanding trust banking and Bancassurance business. LANDBANK recorded a net income of P30.1 billion in 2022—the first time the Bank breached the P30 billion mark—for a robust 38.2% expansion from P21.7 billion in 2021. Through the years, LANDBANK has grown into one of the leading universal banks in the country, while remaining faithful to its social mandate to promote inclusive and sustainable development.
READ MOREThe six major digital banking channels of the Land Bank of the Philippines (LANDBANK) posted an unprecedented P5.6 trillion in terms of value in 2022—equivalent to a 126% growth year-on-year—as the Bank continues to ramp-up efforts toward digital and inclusive banking. The state-owned Bank facilitated a total of 155.8 million digital transactions for a 14% increase over the previous year, as more customers shift to using convenient, reliable, and safe digital banking solutions. “LANDBANK’s digital channels continue to service the growing customer demand for contactless financial transactions. We are driven to support our expanding retail customer base, to deliver convenient and responsive services to more customers nationwide,” said LANDBANK President and CEO Cecilia Cayosa Borromeo. The LANDBANK Mobile Banking App (MBA) facilitated the highest number of transactions among the channels at 123.6 million amounting to P227 billion, recording jumps of 19% in transactions and 32% in value from the previous year. Meanwhile, the Bank’s online retail banking channel, iAccess, posted a 15% rise in transactions value year-on-year to P17.7 billion. The LANDBANK Link.BizPortal facilitated 5.8 million transactions amounting to P11.6 billion, equivalent to 49% and 11% increases, respectively. The web-based payment facility also onboarded 314 new partners for a total of 1,136 merchants, of which 798 are from the public sector. For corporate clients, the LANDBANK weAccess yielded a significant leap of 540% in total value over the previous year, with P3.13 trillion in transactions. For national government agency partners, the Electronic-Modified Disbursement System (eMDS) facilitated 2.5 million or 15% more transactions, amounting to P2.1 trillion representing a 22% growth rate. The LANDBANK Bulk Credit System (LBCS) facilitated 1.8 million transactions amounting to P28.5 billion, for increases of 1,526% and 697%, respectively. For 2023, LANDBANK is looking to grow its digital transactions by at least 60% in terms of both volume and value. The Bank is also implementing an intensified communication campaign through its social media channels to help protect customers from phishing scams and other forms of online banking fraud. LANDBANK posts weekly #SafeModeMonday, #FraudFreeFriday and #ScamAlert featuring reminders and best practices on its social media channels, to regularly provide the public with tips on spotting cyberattacks, how to prevent different forms of phishing, and keeping online credentials confidential, among other online security measures.
READ MORE(left photo) The LANDBANK-financed Baculud Overflow Bridge in Ilagan City, Isabela, allows for easier and safer transportation for residents and vehicles from the City’s northeastern barangays to its Centro Poblacion Barangay Cluster. (right photo) From having a small infirmary solely catering to the medical needs of Ilagueños, the Ilagan LGU also tapped LANDBANK to fund the construction of the City of Ilagan Medical Center (CIMC) building to widen healthcare access in the City. ILAGAN, Isabela – From being one of the poorest municipalities in Isabela over a decade ago, this first-class City now boasts of a vibrant and fast-growing economy driven by major infrastructure projects financed by the Land Bank of the Philippines (LANDBANK). Under the leadership of City Mayor Josemarie L. Diaz, the local government unit (LGU) of Ilagan and LANDBANK maintain a strong partnership geared towards the development of the City, with a total loan exposure amounting to P3.5 billion. “Talagang malaki ang naitulong ng LANDBANK sa amin. Halos lahat ng improvement sa Ilagan City ay dahil sa aming pakikipagtulungan sa LANDBANK,” said Mayor Diaz. In support of Ilagan’s development plan, LANDBANK financed the construction of four essential bridges in the City, including the Baculud Overflow Bridge in Brgy. Baculud and the Cabisera 8 Overflow Bridge in Brgy. Santa Maria. These two overflow bridges significantly increased the mobility of Ilagueños, who previously used boats and bamboo rafts to travel across rivers to reach other parts of the City. The bridges also improved the access of residents from remote barangays to basic and support services, such as to their local hospital and public market. LANDBANK likewise financed the concreting of road networks in Ilagan City to enhance the connectivity between its 91 barangays, which is already 90% completed as of end-January 2023. Built with street lamps and concrete drainage, the concrete road network has made transportation safer and more efficient even in remote areas, especially for farmers who previously struggled to transport their agricultural produce to the market. Facilities for healthcare, recreation, and public services LANDBANK also supports the LGU’s priority projects to provide better healthcare and public services. At the height of the COVID-19 pandemic in 2021, the LANDBANK-financed City of Ilagan Medical Center (CIMC) was opened to initially serve as an isolation facility for COVID patients. From having a small infirmary, the enhanced 100-bed CIMC now provides advanced medical services, such as endoscopy, radiology, and hemodialysis. The hospital has already received three International Standardization Organization (ISO) Certifications for Quality Management System, Environment Management System and Occupational Health and Management System. In 2007, LANDBANK approved a P65-million loan to fund the construction of Ilagan’s Municipal Hall – now a City Hall – in Brgy. San Vicente. For the safety and convenience of its constituents and local government employees, LANDBANK likewise financed the construction of the then Ilagan Municipal Hall (now a City Hall) and multi-purpose barangay halls in the City. Other projects of the LGU backed by the Bank include a sanitary landfill for sustainable waste disposal; a new public market that serves as a central hub for vendors; and daycare centers for children. The Ilagan LGU also partnered with the Bank to finance the construction of recreational facilities in the City, including the new Ilagan Sports Complex, a local mall and hotel, as well as a multi-purpose commercial building, all of which generate significant revenue for the LGU. The modern Ilagan Sports Complex funded by LANDBANK hosts national tournaments for various sports and houses a track and field oval certified by the International Association of Athletics Federations (IAAF). P900 million of the LGU’s total loan will finance lot acquisition in the barangays of Alibagu, Marana 1st and Lullutan for various development projects, including the construction of 94 housing units in Alibagu. The loan will also be utilized for the expansion of the Ilagan City Hotel and Convention Center, as well as the establishment of CIMC’s Contagious Disease Building. This will also fund the construction of a public market building in Brgy. Hacienda San Antonio and a bagsakan center with cold storage for agricultural products in Brgy. Marana 1st. “Simula nung kami ay isang municipality pa lamang, nagtiwala na ang LANDBANK sa amin. Kasama namin ang LANDBANK na lumaki at lumago, at ngayon, we can already provide complete and quality services for the welfare of our people. Kaya malaki ang aming pasasalamat sa LANDBANK,” Mayor Diaz added. With the help of LANDBANK, the LGU’s assets grew from P700 million in 2007 to P7 billion in 2022. LANDBANK remains the biggest development partner of LGUs, in fulfilment of the Bank’s mandate to spur countryside development in stride with nation-building. As of end-2022, the Bank’s outstanding loans to LGUs nationwide have reached P91.5 billion in support of local development projects, which include agri-related infrastructure, hospitals, schools, and utilities.
READ MOREIn line with supporting the country’s coconut industry, the Land Bank of the Philippines (LANDBANK) is offering a new affordable credit facility to coconut farmers to increase production and income especially in coconut-producing communities nationwide. Under the LANDBANK Coconut Farmers and Industry Development (CFID) Lending Program, eligible coconut farmers, cooperatives and associations can access financing for various projects, including the establishment of intercrops and poultry or livestock integration in coconut farms. Individual coconut farmers can use the loan to increase production and working capital, to acquire machines and equipment, and establish necessary facilities. Coconut cooperatives and associations can also utilize the financing for relending and rediscounting to their members. The LANDBANK CFID Lending Program supports the Coconut Farmers and Industry Development Plan (CFIDP) spearheaded by the Department of Agriculture (DA) and the Philippine Coconut Authority (PCA), which outlines the policies and directions to rehabilitate and modernize the Philippine coconut industry. "The CFID Lending Program forms part of the National Government’s whole-of-nation approach towards providing meaningful investments to the coconut industry. LANDBANK remains committed to providing accessible and affordable credit to coconut farmers nationwide to help improve their livelihood," said LANDBANK President and CEO Cecilia Cayosa Borromeo. Under the CFID Lending Program, LANDBANK will provide short-term and long-term loans of at least P1 million, with a fixed affordable interest rate of 2% per annum. The loan program has a total P333.3 million fund composed of P83.3 million or 25% from LANDBANK funds and P250 million or 75% from the Credit Component Allocation under the Coconut Farmers Industry Trust Fund (CFITF) Act, which was signed by former President Rodrigo Duterte in February 2021. The LANDBANK CFID Lending Program will run until 2071 to accommodate as many players from the coconut industry as possible. 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.
READ MOREAllen 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.
READ MOREAs of Fri, August 1, 2025
| Buying | Selling | |
|---|---|---|
| USD | 58 | 58.5 |
| JPY | 0.380722 | 0.395403 |
| EUR | 65.512202 | 68.029015 |
| GBP | 75.782551 | 78.693924 |
| HKD | 7.386916 | 7.935183 |
As of Thu, July 31, 2025
| UITF | NAVPU |
|---|---|
| Cash Management Fund | 1.574664 |
| Money Market Fund | 1.324039 |
| Money Market Plus Fund | 1.236451 |
| PERA Money Market Fund | 1.031509 |
| Medium-Term Bond Fund | 2.490768 |
| PERA Bond Fund | 1.217318 |
| Balanced Fund | 2.69391 |
| Growth Fund | 2.638311 |
| Alpha Equity Fund | 3.12469 |
| Blue Chip Equity Fund | 0.967652 |
| Equity Fund | 0.816179 |
| High Dividend Equity Fund | 1.043178 |
| US$ Money Market Fund | 1.443192 |
| Global $ Fund | 1.554514 |
| Bond Fund | 2.049094 |
