It is the policy of the State to protect its citizens from a lack of awareness of the true cost of credit to the user by assuring a full disclosure of such cost with a view of preventing the uninformed use of credit to the detriment of the national economy. DEFINITION OF TERMS (1) "Board" means the Monetary Board of the Central Bank of the Philippines (2) "Credit" means any loan, mortgage, deed of trust, advance, or discount; any conditional sales contract; any contract to sell, or sale or contract of sale of property or services, either for present or future delivery, under which part or all of the price is payable subsequent to the making of such sale or contract; any rental-purchase contract; any contract or arrangement for the hire, bailment, or leasing of property; any option, demand, lien, pledge, or other claim against, or for the delivery of, property or money; any purchase, or other acquisition of, or any credit upon the security of, any obligation of claim arising out of any of the foregoing; and any transaction or series of transactions having a similar purpose or effect (3) "Finance charge" includes interest, fees, service charges, discounts, and such other charges incident to the extension of credit as the Board may be regulation prescribe (4) "Creditor" means any person engaged in the business of extending credit (including any person who as a regular business practice make loans or sells or rents property or services on a time, credit, or installment basis, either as principal or as agent) who requires as an incident to the extension of credit, the payment of a finance charge (5) "Person" means any individual, corporation, partnership, association, or other organized group of persons, or the legal successor or representative of the foregoing, and includes the Philippine Government or any agency thereof, or any other government, or of any of its political subdivisions, or any agency of the foregoing As such, Any creditor shall furnish to each person to whom credit is extended, prior to the consummation of the transaction, a clear statement in writing setting forth, to the extent applicable and in accordance with rules and regulations prescribed by the Board, the following information: (1) the cash price or delivered price of the property or service to be acquired; (2) the amounts, if any, to be credited as down payment and/or trade-in; (3) the difference between the amounts set forth under clauses (1) and (2); (4) the charges, individually itemized, which are paid or to be paid by such person in connection with the transaction but which are not incident to the extension of credit; (5) the total amount to be financed; (6) the finance charge expressed in terms of pesos and centavos; and (7) the percentage that the finance bears to the total amount to be financed expressed as a simple annual rate on the outstanding unpaid balance of the obligation IMPORTANT NOTICE: The disclosure statement in writing is a required attachment to the credit transaction contract. The borrower has a right to demand a copy of the disclosure statement.
READ MOREGovernment and even private banks need to provide the necessary funding requirements to help minimize the adverse economic and health impacts of the COVID-19. LANDBANK, through the HEAL (Help via Emergency Loan Assistance for LGUs) Lending Program, will pioneer the necessary immediate response to this health crisis.
READ MOREThe ACEF Lending Program aims to provide necessary credit to farmers and fisherfolk and their cooperatives and associations and micro and small enterprises to increase their productivity; and to establish an agricultural lending program that enhances competitiveness of target project beneficiaries or sectors especially the small farmers and fisherfolk.
READ MOREThe LANDBANK Sustainable Multi-dimensional Approach using Revolutionized Technologies (SMART) in City Development Lending Program aims to promote sustainable, high-quality living, and efficient economies in cities and local governments across the nation. The Program provides financial support for the development of intelligent communication technology in infrastructures and everyday digital applications toward creating a more interconnected network of industries and communities with a highly open environment for vital information exchange. Based on the framework for the ASEAN Smart Cities of 2018, the SMART in City Development Program complements the sustainable development thrust of the National Government, aiding in finding solutions for overpopulation and poverty alleviation in urban communities.
READ MOREUITF products are open-ended pooled trust funds that are invested collectively in a diversified portfolio approved by the Bangko Sentral ng Pilipinas (Section 414 of the MORB). UITF is a simple, affordable, convenient, and the best vehicle to participate in the financial markets. It also offers a less time-consuming method of investing in a diversified portfolio. As open-ended pooled funds, participation/contribution comes from several participants (investors) pooled and invested as a single fund. Participations and redemptions/withdrawals are allowed as often as stated in each fund’s respective Plan Rules (Declaration of Trust). NOTE: Unit Investment Trust Funds (UITFs) are not deposit accounts or an obligation of, guaranteed, or insured by the Land Bank of the Philippines or its affiliates or subsidiaries and, therefore, are not insured or governed by the Philippine Deposit Insurance Corporation (PDIC). Due to the nature of investments, yields and potential yields cannot be guaranteed. Any income or loss arising from market fluctuations and price volatility of the securities held by the Fund, even if invested in government securities, is for the account of the investor. As such, units of participation of the investor in the UITF, when redeemed, may be worth more or be worth less than his/her initial investment/contributions. Historical performance, when presented, is purely for reference purposes and not a guarantee of similar future results. LANDBANK TBG, as trustee, is not liable for losses unless upon willful default, fraud, bad faith, or gross negligence. Trustor/Investor must read the complete details of the fund in the Plan Rules/Declaration of Trusts, make his/her own risks assessment, and when necessary, he/she must seek independent/professional opinion before making an investment.
READ MORE1. The promo is open to all Bon Appetrip participating Ayala Malls diners. 2. Ayala Malls diners may avail of the following promos from February 8 to December 6, 2019 at specified restaurants. a. Food Holiday Buy 1 Get 1 Promo b. El Nido and Sicogon Raffle Promo 3. Ayala Malls Food Holiday will be at the following participating malls: Abreeza Ayala Malls Feliz Glorietta Alabang Town Center Ayala Malls Legazpi MarQuee Mall Ayala Center Cebu Ayala Malls Solenad Trinoma Ayala Malls Circuit Ayala Malls Vertis North UP Town Center Ayala Malls Cloverleaf Harbor Point 4. Promos are valid for dine–in & take–out orders but must not be used with other promos, discounts, and loyalty cards. 5. Ayala Malls diners must follow terms & conditions for each promo. FOOD HOLIDAY PROMO 1. Ayala Malls diners may avail of the buy 1 get 1 promos on the following dates: DATE FEATURED DISH February 8, 2019 Pizza Day March 14, 2019 Steak day April 6, 2019 Pasta Day May 10, 2019 Asian Day June 12, 2019 Filipino Day July 4, 2019 American Day August 27, 2019 Burger Day September 20, 2019 Chicken Day October 21, 2019 Seafood Day November 15, 2019 Coffee Day December 6, 2019 Dessert Day 2. Ayala Malls diners are entitled to a FREE dish upon ordering the featured dish of the day from participating restaurants, with details as follows: 3. Ayala Malls diners may redeem their FREE item on the same day of the promo as indicated on the food establishment receipt. Redemption and usage after each promo date will not be honored. 4. Ayala Malls diner is entitled to join the El Nido and Sicogon raffle promo (Per DTI-FTEB Permit No. 1847, series of 2019) and get two (2) raffle coupons for every transaction made using their credit, debit or prepaid Mastercard during any of the Food Holiday celebrations. In conjunction with the 2019 Bon Appetrip Food Holiday Campaign of the Ayala Malls, all Mastercard cardholders with Philippine-issued credit, debit or prepaid Mastercard cards are qualified to join a raffle promotion as follows: The Promotion is open to all active qualified credit, debit or prepaid Mastercard cardholders of good credit standing. The Promotion period is from February 8 to December 6, 2019. Redemption period is from January 15 to December 31, 2020. To qualify, the cardholder should use his/her qualified credit, debit or prepaid Mastercard for a minimum spend of one thousand pesos (PhP1,000) at any or participating specialty restaurant within the promo period. a. Mastercard cardholder is entitled to one (1) one raffle coupon for every transaction made at any specialty restaurant from participating Ayala Malls. b. Mastercard cardholder is entitled to two (2) raffle coupons for every transaction made at participating restaurants during the Food Holiday buy 1 get 1 promo (Per DTI-FTEB Permit No. 1847, series of 2019). Mastercard cardholder must present their card with valid transaction slip to the Ayala Malls concierge and completely fill-out the following details on the electronic raffle coupons: complete name, address, email address, house phone number or mobile phone number, and signature. For Credit cardholders, principal and supplementary cardholders are allowed to register for the promo. All qualified transactions of the principal cardholder, including his supplementary cardholder(s), will earn raffle coupons. Only charge slips issued from February 8 to December 6, 2019 are eligible. Defaced, crumpled, tampered or receipts that are less than ¾ its actual size will not be honored. A single purchase transaction requires only one approval. Splitting into smaller transaction sizes, and consequently, requiring multiple transaction approvals will not be allowed. There are twenty-two (22) raffle prizes, with details as follows: Draw Date Last Day of Submission of Entries Prizes First draw: June 21, 2019, 4 PM June 20, 2019, 9 PM Major prizes: Two (2) 3 Days/2 Nights Deluxe Room package in Lagen Island, El Nido Resort for two (2) persons. Inclusive of the following: Airfare for two (2) persons via Airswift Full board and airport transfers Minor prizes: Nine (9) 3 Days/2 Nights Deluxe Room package in Casa Kalaw, El Nido for Two (2) persons. Inclusive of the following: Airfare for two (2) persons via Airswift Full board and airport transfers December 13, 2019, 4 PM December 12, 2019, 9 PM Major prizes: Two (2) 3 Days/2 Nights Deluxe Room package in Lagen Island, El Nido Resort for two (2) persons. Inclusive of the following: Airfare for two (2) persons via Airswift Full board and airport transfers Minor prizes: Nine (9) 3 Days/2 Nights Deluxe Room package in Huni Resort, Sicogon, Iloilo for two (2) persons. Inclusive of the following: Airfare for two (2) persons via Airswift Full board and airport transfers A shopper may only win once. The prizes are subject to the following conditions: All prizes are transferable but not convertible to cash. Winners shall directly coordinate with (travel agency) regarding their accommodation details. Reservations must be made two (2) months before the departure. Travel taxes and other travel-related expenses shall be for the account of the winner. Travel documents must be secured by the winner for his/her account. Prizes not claimed after sixty (60) days from date of notification will be forfeited in favor of ALI Commercial Center, Inc. with prior approval of DTI. Winners will be notified by telephone call and registered mail. The winners’ names will also be posted on the Ayala Malls official Facebook and Twitter accounts Winners may claim their prizes at the Ayala Malls office located at the 5thFloor, Glorietta 4, Ayala Avenue, Makati City. To claim the prizes, winners must present the notice sent by registered mail, the winning raffle coupon, and any two (2) valid Government-issued identification card with photo and signature. In case of dispute, the decision of ALI Commercial Center, Inc. and Mastercard Philippines with the concurrence of DTI shall be considered final. ALI Commercial Center, Inc. is authorized to give necessary information to its third-party contractor or agent to perform or complete the redemption process, Employees of Ayala Malls Group (Ayala Land, Inc.), ALI Commercial Center, Inc, Alabang Commercial Corporation, Cebu Holdings Inc., North Triangle Depot Commercial Corporation, and Accendo Commercial Corporation, Mastercard, their merchants, maintenance and security agencies, and advertising and promotional agencies, and their relatives up to the second degree of affinity or consanguinity, are disqualified from joining the promo. Fraud, abuse or any unauthorized action on credit card transaction or the participation/availment in the promo may result in the disqualification of the cardholder from the promo, suspension and/or cancellation of card privileges and/or the charging of the full cost of the Makati Supermart or Metro Department Store/Supermarket gift certificate/s redeemed to the cardholder’s account, according to ALI Commercial Center, Inc. and Mastercard’s discretion. Per DTI-FTEB Permit No. 1847, Series of 2019
READ MOREWin two tickets to MAMMA MIA!, a P10,000 shopping spree at Robinsons Department Store, or even a trip for two to Santorini, Greece! Promo period: Jul 01, 2018 - Aug 31, 2018 PROMO MECHANICS: Get a chance to win two tickets to MAMMA MIA!, a P10,000 shopping spree at Robinsons Department Store, or even a trip for two to Santorini, Greece! Earn raffle entries for every P3,000 single receipt purchase at Robinsons Department Store with Mechanics: 1. The Promotion period is from July 1 to August 31, 2018. Merchant Offers Resource Center Content Downloaded On: July 04, 2018. 2. The Promotion is open to all cardholders of Philippine-issued Credit, Debit or Prepaid Visa issued by any Designated Philippine Banks. 3. Every P3, 000 single-receipt purchase including straight or installment transaction at any participating Robinsons Department Store earns one (1) raffle coupon entry. MAJOR PRIZE: •One (1) Travel Package to Santorini, Greece for two (2) people inclusive of economy roundtrip airfare, 5 days/4 nights’ accommodation with city tour. MINOR PRIZES: •Fifty (50) winners of MAMMA MIA! tickets, 2 tickets each winner. •Twenty (20) winners of P10,000 worth of Robinsons Department Store Gift Certificates 4. Qualified transaction will earn a raffle coupon entry that will be printed at the end of the official receipt. 5. The customer must completely fill out the raffle coupon with his/her complete name, address, landline or mobile number, email address and affix signature. 6. Participants will drop the coupon at the designated drop boxes located at the participating Robinsons Department Store Branches. Raffle Draw Schedule: DEADLINE OF SUBMISSION OF ENTRIES: August 31, 2018, end of store hours RAFFLE PRIZES: - Trip for two (2) to Santorini, Greece - 100 tickets to the MAMMA MIA! The Musical at the Solaire (50 winners, 2 tickets/winner) - P10,000 worth of Robinsons Department Store Gift Certificates (20 winners) RAFFLE DRAW : September 11, 2018, 2:00PM 7. Winners can win only once. The prize of higher value is awarded to the customer should his/her name be drawn more than once. 8. The raffle draw will be held at Robinsons Inc. Head Office located at 110 E. Rodriguez Jr. Avenue, Libis, Quezon City 14 days after the end of the Promo Period, that is on September 11, 2018 at 2:00pm. 9. The raffle draw will be witnessed by representatives from the Department of Trade and Industry (DTI), Robinsons Department Store Representative and Visa Philippines. 10. Robinsons Inc. and Visa Philippines reserve the right, in concurrence with DTI, to reject a participant if he/she is unable to satisfy the conditions set out in this promo mechanics. 11. Raffle prizes are transferable but cannot be exchanged for nor redeemed as cash or other items. 12. Prizes are transferable provided that the winner must provide a written endorsement letter together with a photocopy of their passport or a valid ID with specimen signature submitted to Robinsons Department Store. The nominated recipient must be able to satisfy the requirements for the claiming of prize. 13. The winner will be notified by phone and an official notification letter sent by registered mail, based on the cardholder’s information in the records of the respective issuing Visa Customer bank. Winner must sign the (1) Release, Waiver and Quit Claim Form and (2) submit the original official notification letter, (3) present their winning eligible Visa branded consumer credit, debit or prepaid card, (4) present the original statement of account (SOA) or the original charge slip, and (5) One (1) present valid government issued ID. •All entries remain the sole property of Robinsons Inc. with all participant information held within Robinsons Inc.’s secured database of entries. •Except where prohibited by law, participation in the Promotion constitutes each participant’s consent to Robinsons Inc. and Visa Philippines’ use of their name, personal description, likeness and opinions for any promotional, marketing and publicity purposes in any media. •The winner may be required to participate in publicity program which Robinsons Inc. and Visa may organize in connection with the Promotion and if required to do so, such winner must attend such function. Expenses and /or cost incurred by winner in attending such functions shall be for account of Robinsons Department Store. •All Winners shall agree to release, indemnify and hold Robinsons Department Store and partners harmless from any and all losses, damages, rights, claims and actions of any kind rising in connection with or as a result of participating in the Raffle or the Winner’s acceptance or use of any Prize. 14. The schedule and location of awarding shall be agreed upon by the sponsor and the winners. Awarding of winners will be documented at Robinsons Department Store Head Office located at 110 E. Rodriguez Jr. Avenue, Libis, Quezon City. 15. If the winner is unable to claim the prize him/herself, a representative must present the necessary documents: (a) a letter of authorization duly signed by the winner, nominating the parent/ legal guardian, or representative as the acknowledged recipient of the prize on the winners’ behalf (b) 2 original IDs of the winner with picture (acceptable/valid IDs are SSS, TIN, Passport, Office or School ID with birth date) (c) 2 original IDs of the representative/ legal guardian. 16. Robinsons Department Store will issue a travel certificate that entitles the winner to round trip tickets to Santorini, Greece. Travel certificate shall indicate terms and conditions, reservation procedures and black-out periods. Robinsons Department Store will handle the airline and hotel booking of the major prize winner. 17. Travel certificate is valid for 6 months upon issue. Advance reservation is required. Booking and travel must be completed no later than the expiry date. 18. Prizes not claimed after the sixty (60) day period will be forfeited and may be used as deemed necessary by Robinsons Inc. and Visa Philippines upon approval of DTI. 19. Robinsons Inc. and Visa Philippines reserves the right to verify the eligibility of the drawn entries (that is, the winner’s Visa account with the issuing Bank must exist and in good standing for the duration of the Promotion Period and the 60 day redemption period). 20. All travel insurance, travel visa and any other ancillary costs, except as specifically stated above in item #3, incurred by a winner are the responsibility of the individual prize winner and, where applicable, their nominated guests. 21. The 20% Prize Tax for all the prizes will be shouldered by Robinsons Department Store. 22. Employees of Robinsons Inc. and Visa Philippines its affiliates, suppliers, concessionaires, third party agents and their relative up to the second degree of affinity on consanguinity are disqualified from joining the promo. Per DTI-FTEB Permit No. 11001, Series of 2018.
READ MOREUse your Visa at Caltex for a chance to win 1 million pesos and a year's worth of free gas! Offer Validity Dates: Apr 21, 2017 - Jul 31, 2017 I. Eligibility The Promotion is open to all principal and supplementary holders of Philippine issued Visa Credit, Debit, and Prepaid cards. No minimum spend is required. Participating products are Caltex gasoline and diesel products. Only transactions made through locally-issued Visa Credit, Debit, and Prepaid Cards in participating Caltex stations are eligible for the Promotion. Cardholders whose accounts are suspended or terminated are not eligible to join. II. Promotion Mechanics and Conditions The Promo period starts on April 21, 2017 12:01 a.m. and ends on July 31, 2017, 11:59 p.m. (Philippine time). Eligible Cardholders have two (2) ways of winning: Raffle Draw The card terminal will generate a raffle coupon which will serve as the entry to the Raffle draw. Purchases of participating Caltex product within the promo period from any of the participating Caltex stations, using Visa Credit, Debit, and Prepaid Cards shall entitle the Cardholder to get electronic raffle entry. An increment of Php 500 fuel purchase will add up to the number of raffle entries that a customer can get. •Transaction Amount: 1-500 - Contact Transaction: 1 raffle entry •Transaction Amount: 501-1000 - Contact Transaction: 2 raffle entries •Transaction Amount: 1001-1500 - Contact Transaction: 3 raffle entries One (1) winning Cardholder will be drawn for each raffle draw date. •1st Raffle Draw: - Raffle Draw Date: May 26, 2017 - Covered Period: April 21, 2017, 12:01 a.m. – May 22, 2017,11:59 p.m - Prizes: 1 winner of 1-year supply of Caltex fuel in a form of StarCash worth Php100k •2nd Raffle Draw: - Raffle Draw Date: June 30, 2017 - Covered Period: April 21,2017, 12:01 a.m. – June 26, 2017, 11:59 p.m - Prizes: 1 winner of 1-year supply of Caltex fuel in a form of StarCash worth Php100k •3rd Raffle Draw and Grand Draw: - Raffle Draw Date: August 4, 2017 - Covered Period: April 21, 2017, 12:01 a.m. – July 31, 2017, 11:59 p.m - Prizes: 1 winner of 1-year supply of Caltex fuel in a form of StarCash worth Php100k, 1 winner of Php1.00 Million credit to Visa card Every eligible Cardholder must keep the original Visa transaction slip used for the entry as physical proof of purchase. The last four digits of the Visa card number date and amount of the transaction must be stated on the charge/transaction slip. Customer may win only once for each draw date but he/she will still be eligible for the grand draw. All non-winning entries during after each draw will be included in the next draws. All entries remain the sole property of Caltex. Information provided by Cardholders for the Promotion will be used by Caltex and Visa and its agencies for administering the Promotion. Caltex and its agency may pass such information to its authorized service providers for management of the Promotion, data processing, prize redemption management and analysis and other purposes related to the Promotion. After the Promotion is completed, all data in hard and soft copy will be securely disposed of at all its data sources in the presence of an external auditor within sixty (60) days after the end of the Promotion. By accepting these Terms and Conditions and participating in the Promotion, Cardholders have consented and are deemed to have consented to such use. Cardholders authorize Chevron Philippines Inc. and Visa and/or any of its representatives to disclose and publish their names, photos and other particulars determined by Chevron to any person/s and in any mode or manner as Chevron may deem appropriate and to take part in any promotion or publicity exercise as part of the Promotion III. Determination of the Raffle Prize Winner The electronic raffle draws to select the Raffle Draw winners will take place at Equitable Computer Services, Inc.’s office with address: 2/F Maxicare Tower Bldg., 203 Salcedo St., Legaspi Village, Makati City, Philippines, 4:00 p.m. on the dates above. Drawn winner will have his/her entry verified through his/her bank to confirm that they are based on valid transactions. The raffle entry details should match details from his/her bank such as the approval code, date of transaction, amount of transaction and card number to be considered as a bonafide transaction. Once validated, Winners will be notified through registered mail, phone, published on Caltex Philippines official Facebook page. Winners may claim their prize at Chevron Philippines Inc., 6/F, 6750 building, Ayala Ave. Makati City, Philippines (Mondays-Fridays 9AM to 6PM), and must present - 2 valid IDs along with the original transaction slip, the Visa Card used in the transaction, and the notification letter from Caltex. Prizes of winners outside Metro Manila area will be sent via courier to the Winners’ registered address. The period during which the prizes can be claimed is sixty (60) days from the receipt of notice via registered mail. Prizes not claimed within this 60-day period will be forfeited prior approval from DTI. Winners must fill up the necessary forms and claim required by Caltex to certify that prize awarded has been received. All Prizes are non-convertible to cash. All taxes for the prize shall be shouldered by Chevron Philippines Inc. once the requirements are fulfilled for validation. Caltex will not bear any transportation or other incidental costs incurred by the winner in traveling to the location indicated for redemption and/or for submitting proof of identification. The Cardholder’s Card account must be existing, valid and in good credit standing at the draw date to be eligible for the Promotion and prize. Caltex together with Visa reserves the right to verify if the drawn entries are from eligible Cardholders. A principal Card account is treated separately from the supplementary Card account. Entries for the principal account will be considered separate from entries of the supplementary account and vice versa. Bulk purchases and local account transactions are qualified with a cap of Php 10,000 of the total amount of transaction. Employees of Chevron Philippines Inc., Visa Worldwide Singapore Pte. Limited, all Caltex service stations, advertising agencies, Caltex retailers and suppliers/contractors and their relatives up to the second degree of consanguinity or affinity are disqualified from joining the promotion. 13. Decisions made by Chevron Philippines Inc, in accordance with these terms and conditions as well as with applicable rules and regulations, on all matters relating to this promotion will be at its absolute discretion and will be final and binding on all participants, with prior concurrence of the DTI. Per DTI-FTEB Permit No. 4157 Series of 2017
READ MORELANDBANK President and CEO Cecilia C. Borromeo (seated, 2nd from left) and Agriculture Acting Secretary William D. Dar (seated, 3rd from left) sign a MOA with LBP Lending Program Management Group Head/FVP Emellie Tamayo (seated, leftmost) and Agricultural Credit Policy Council (ACPC) Executive Director Jocelyn Alma Badiola (seated, rightmost), witnessed by Agrarian Reform Secretary John Castriciones (standing, 4th from left), with (standing, from left) Deputy Treasurer Atty. Erwin Sta. Ana, LBP Directors Jesus Hinlo Jr., Jaime Miralles, and Virgilio Robes Jr., Agriculture Undersecretary Atty. Francisco Villano Jr., and ACPC Deputy Executive Director Ramon Yedra (standing, rightmost). The Land Bank of the Philippines (LANDBANK) and the Department of Agriculture (DA), through the Agricultural Credit Policy Council (ACPC), signed on August 28, 2019 a Memorandum of Agreement (MOA) that would provide financial assistance to small farmers affected by the implementation of Republic Act No. 11203 also known as the Rice Tariffication Law (RTL). Acting Agriculture Secretary William D. Dar and LANDBANK President and CEO Cecilia C. Borromeo led the signing of the agreement to implement the Expanded Survival and Recovery Assistance Program (SURE Aid) for Rice Farmers, which will provide an immediate one-time loan assistance of P15,000, payable in 8 years, to rice farmers who are tilling one hectare of land and below, and whose incomes were affected by the drop of prices of palay this year. “We are trying to appraise the very predicament of the rice farmers affected by a complex set of issues, including the Rice Tariffication Law. But because of the falling prices of palay, we thought it necessary to look at every opportunity that is available for us. There are many more measures and this is one of them. We would like to get more ideas – measures that we need to implement right away,” said Secretary Dar, who is also Chairman of ACPC, an attached agency of DA. Under the agreement, LANDBANK will implement the SURE Aid Program by releasing the loans either through direct lending to farmers or through service conduits. For its part, DA-ACPC will set aside P1.5 billion for the Program and provide the Bank with the validated list of farmers eligible for the loan assistance, as well as the list of DA-identified service conduits. “We are very excited to be part of this very important Program that will cushion the initial impact of the lowering of the farm gate prices of palay because of the new rice tariffication regime. Please be assured that LANDBANK is fully on-board to work with you in making greater things happen for our farmers and fishers,” said President Borromeo. She also thanked Secretary Dar for his “very swift and solid move,” which she said was a clear sign of many great things to come in the agriculture sector. The MOA signing was witnessed by members of the LANDBANK Board of Directors led by Agrarian Reform Secretary John Castriciones, Atty. Jesus Hinlo Jr., Jaime Miralles, and Virgilio Robes Jr. They were joined by Agriculture Undersecretary Atty. Francisco Villano Jr., ACPC Executive Director Jocelyn Alma Badiola, ACPC Deputy Executive Director Ramon Yedra, Deputy Treasurer Atty. Erwin Sta. Ana, and LANDBANK Lending Program Management Group Head/FVP Emellie Tamayo.
READ MOREGARBEMCO manages a rubber plantation in Goodyear, Kabasalan, Zamboanga Sibugay and is currently one of the major rubber producers in the area. For a community of 312 Agrarian Reform Beneficiaries (ARBs) in Kabasalan, Zamboanga Sibugay, a 1,000-hectare plantation of rubber trees is the primary source of income and livelihood. These ARBs have established a profitable system of maintaining the rubber trees, gathering produce and selling them, thanks to the organization they formed in 1992 – the Goodyear Agrarian Reform Beneficiaries Multi-Purpose Cooperative (GARBEMCO). The Cooperative itself generates employment in the community. In 2018, GARBEMCO provided jobs to 321 individuals. They harvest around 600 bales of crumb rubber per week, which are packed at 33.33 kilos per bale. GARBEMCO sells these bales at P60 per kilo, mostly to the local market, and some to areas in Cebu and Cagayan de Oro. According to GARBEMCO General Manager Lilia Manuel, the rubber plantation has been a profitable venture for the Co-op, as supplemented by other businesses including credit operations, fishpond operations, abaca production, handicraft making, consumer store, rice field rental, rice milling and trading, and hauling services. To help the Co-op further enhance its business, LANDBANK approved a new loan on September 17, 2019 to finance its working capital requirement for rubber production, rice milling and trading, consumer store, and fishpond and abaca production. Through the years, LANDBANK has been supportive of GARBEMCO’s endeavors as the growth of the Co-op redounds to the benefit of its ARB members. GARBEMCO and LANDBANK’s relationship can be traced back to 1995. The Co-op was still in its early years and was suffering from low production due to hectares of senile rubber trees. When the Bank extended an agricultural production loan, the Cooperative was able to rehabilitate its plantation and managed to transcend the challenges in its operations. Another loan was extended to GARBEMCO in 2012, which the Co-op used for replanting purposes covering a total area of 238 hectares. This helped the Co-op further grow its rubber business. From being besieged by various problems, the Cooperative has now grown and is reaping the rewards of sound operations. Apart from making the necessary reorganization in the management team, it also made efforts to improve its operational capacity through trainings on risk and capacity building, among others, under the supervision of the LANDBANK Countryside Development Foundation, Inc. GARBEMCO General Manager Manuel said, “We are grateful to the Land Bank of the Philippines for the financial and technical assistance provided to our Cooperative to enhance and strengthen our operation. Looking forward to more fruitful years of partnership because LANDBANK indeed helped us grow!” As the Bank aggressively expands its retail lending programs to provide farmers and fishers with direct access to credit, it continues to channel financing support to the sector through partner conduits, such as farmers’ and fishers’ cooperatives, irrigators’ associations, and countryside financial institutions. For more information on LANDBANK’s lending programs, visit www.landbank.com or the nearest LANDBANK Lending Center.
READ MOREAs of Fri, May 2, 2025
| Buying | Selling | |
|---|---|---|
| USD | 55.55 | 56.05 |
| JPY | 0.377079 | 0.391677 |
| EUR | 61.830814 | 64.229657 |
| GBP | 72.734752 | 75.556633 |
| HKD | 7.135926 | 7.668369 |
As of Wed, April 30, 2025
| UITF | NAVPU |
|---|---|
| Cash Management Fund | 1.558326 |
| Money Market Fund | 1.311473 |
| Money Market Plus Fund | 1.223865 |
| PERA Money Market Fund | 1.024157 |
| Medium-Term Bond Fund | 2.473735 |
| Bond Fund | 2.028301 |
| PERA Bond Fund | 1.202455 |
| Balanced Fund | 2.625609 |
| Growth Fund | 2.598945 |
| Alpha Equity Fund | 3.025756 |
| Blue Chip Equity Fund | 0.970814 |
| Equity Fund | 0.790417 |
| High Dividend Equity Fund | 1.009225 |
| US$ Money Market Fund | 1.432555 |
| Global $ Fund | 1.531474 |
