The 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 MOREDhaemyze Wong, a Grade 7 student from Poro, Cebu, opened a LANDBANK PISO account – her very first bank account – on 27 January 2023, with just P1.00 as initial deposit and one valid ID. PORO, Cebu – 74-year-old Jesus Abao Wong has always dreamed of teaching his granddaughter the value of saving for the future – a lasting legacy he hopes she will cherish someday. “I have always wanted to open an ATM savings account for my granddaughter and teach her how to save for her future,” he said. However, he was worried that his 12-year-old granddaughter, Dhaemyze, would have difficulty opening and managing her own bank account, especially in preparing and submitting the necessary documentary requirements. So when he learned about the PISO (Perang Inimpok Savings Option) account offered by the Land Bank of the Philippines (LANDBANK), he immediately accompanied Dhaemyze to the LANDBANK Camotes Branch and successfully opened her very first bank account, with just P1.00 as initial deposit and one valid identification card. “The process was as easy as 1-2-3. As soon as we entered the premises of LANDBANK, we were promptly assisted by the personnel who helped us throughout the application process,” Jesus excitedly shared. Launched in 2022, the LANDBANK PISO account is offered to individuals without existing deposit accounts and have no capacity to open a regular deposit savings account with higher maintaining balance and documentary requirements. With her LANDBANK PISO account, Dhaemyze can now securely keep her extra cash from her school allowance and savings, and more importantly, develop healthy financial habits at an early age with the guidance of her grandfather. “LANDBANK personnel have always been courteous and friendly. As a customer, I am confident that they will always be ready to assist the banking needs of my granddaughter anytime,” added Jesus. Banking the unbanked As of 31 March 2023, LANDBANK has opened close to 18,000 PISO accounts for unbanked and underserved Filipinos, including students, public utility vehicle drivers, vendors, household helpers, farmers, and fishers. This covers remote communities across the country, reaching as far as the municipalities of Basco, Batanes; Moalboal, Cebu; Mati, Davao Oriental, and Claver, Surigao del Norte, among other far-flung areas. With the LANDBANK PISO, accountholders can access the Bank’s menu of digital banking channels such as the iAccess, Link.BizPortal, and the Mobile Banking App for convenient fund transfer, bills payment, and balance inquiry services. Accountholders can also use the PISO account in any LANDBANK, BancNet, and 7-Eleven Automated Teller Machines (ATMs), domestic Point-of-Sale (POS) terminals, and for over-the-counter transactions in their respective LANDBANK branch of account. To open a LANDBANK PISO account, interested individuals only need to bring one peso and one valid ID or any Barangay certification/clearance for verification to the nearest LANDBANK Branch.
READ MOREThe Land Bank of the Philippines (LANDBANK) continues to firm up its support to the agriculture sector, with outstanding loans reaching P271.8 billion as of 31 March 2023 – a 14.8% year-on-year growth from P236.8 billion in the same period in 2022. Of the Bank’s agri loans, P42.3 billion directly benefitted small farmers and fishers, including those which were channeled through cooperatives and farmers’ associations, rural financial institutions and other conduits. “LANDBANK continues to provide accessible financing for small farmers and fishers, as well as the whole agri-value chain. We are fully committed to supporting the National Government’s efforts to ensure food security towards advancing growth that is sustainable and inclusive,” said LANDBANK President and CEO Cecilia Cayosa Borromeo. As support to other agri-value chain players, LANDBANK extended P181.2 billion to finance the requirements of small, medium and large agribusinesses. The remaining P48.3 billion in loans backed agri- and aqua-related projects of local government units (LGUs) and government-owned and controlled corporations (GOCCs). In terms of economic activities, P64.5 billion of the agri loans were channeled to boost livestock and crop production, while P120 billion accounted for loans for agri-processing and trading. Meanwhile, P87.3 billion supported the construction and improvement of essential agri infrastructures such as public markets, farm-to-market roads, warehouses, cold storages, and irrigation systems, among others. Intensified support to rice, coconut industries In support of the National Government’s thrust to boost palay production and ensure sufficient rice supply in the country, the Bank continues to ramp up its lending activities to rice farmers and other rice industry stakeholders. As of end-March 2023, LANDBANK’s outstanding loans to the local rice industry has reached P9.7 billion to finance requirements for palay production and processing, such as farm inputs, machineries, equipment, and facilities, among others. Apart from loans, the Bank has also distributed cash grants amounting to P1.5 billion to 291,241 farmer-beneficiaries nationwide under the Rice Competitiveness Enhancement Fund - Rice Farmers Financial Assistance (RCEF-RFFA) Program, in partnership with the Department of Agriculture (DA). LANDBANK likewise continues to provide responsive credit assistance to the coconut sector with outstanding loans amounting to P643 million, benefitting coconut farmers and other stakeholders engaged in the production and processing of coconut-based products. Earlier this year, LANDBANK launched its new Coconut Farmers and Industry Development (CFID) Lending Program, in support of the Coconut Farmers and Industry Development Plan (CFIDP) spearheaded by the DA and the Philippine Coconut Authority (PCA). Under the 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. LANDBANK will provide short-term and long-term loans with a fixed affordable interest rate of 2% per annum.
READ MOREA COLLABORATIVE CLIMATE INITIATIVE – DOST Secretary Renato U. Solidum Jr. (4th from right), PAGASA Administrator Dr. Vicente B. Malano (2nd from right) and LANDBANK Vice President Esperanza N. Martinez (3rd from right) are joined by heads and representatives of other executing entities in launching the “Multi-Hazard Impact-Based Forecasting and Early Warning System for the Philippines” on 26 April 2023 in Quezon City. (Photo Courtesy of DOST-PAGASA) The Land Bank of the Philippines (LANDBANK) and the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) have joined hands to lead the establishment of an impact-based forecasting and early warning system, to enable communities take better pre-emptive measures against natural calamities. The “Multi-Hazard Impact-Based Forecasting and Early Warning System for the Philippines” or the “IBF-Ph Project” is supported by a $10-million grant from the Green Climate Fund (GCF) and $12 million in co-financing from PAGASA, under the Department of Science and Technology (DOST). The IBF-Ph Project aims to address the challenges related to climate hazards by communicating what the weather “will do” rather than what the weather “will be.” It will combine the best available science and local knowledge on forecasting and risk assessment, instead of generating standardized information based on thresholds and lead times. The IBF-Ph Project will run until 2027, with the end goal of institutionalizing impact-based forecasting and integrating early warnings into investment and policy decisions. It will be piloted in the disaster-prone areas of Palo, Leyte; New Bataan, Davao de Oro; Tuguegarao City, Cagayan; and Legazpi City, Albay. “LANDBANK welcomes the opportunity of working with PAGASA and other development partners to advance sustainable finance and contribute to addressing the challenges of climate change. We look forward to the successful implementation of the IBF-Ph Project, as part of our broader thrust of promoting sustainable development,” said LANDBANK President and CEO Cecilia Cayosa Borromeo. GCF Mitigation and Adaptation Division Director Dr. German Velasquez, along with Science and Technology Secretary Renato U. Solidum Jr. and PAGASA Administrator Dr. Vicente B. Malano, led the national launch of the IBF-Ph Project on 26 April 2023 at the Crowne Plaza Manila Galleria Hotel in Ortigas Center, Quezon City. They were joined by Interior and Local Government Director Edgar Allan B. Tabell, Climate Change Commission Assistant Secretary Romell Antonio O. Cuenca, Office of Civil Defense Administrator Undersecretary Ariel Nepomuceno, PAGASA Deputy Administrator Dr. Esperanza O. Cayanan, and LANDBANK Vice President Esperanza N. Martinez. Also present were World Food Programme Country Director Brenda Barton, Tuguegarao City Mayor Maila Rosario Ting-Que, Legazpi City Mayor Carmen Geraldine B. Rosal, Palo Mayor Remedios L. Petilla, and other local development partners. The IBF-Ph Project is the very first GCF-approved project in the country, with PAGASA as the lead executing entity and LANDBANK serving as a Direct Access Entity (DAE) to ensure that the project is compliant with GCF policies and standards. Other project implementors are the Department of Interior and Local Government (DILG), Office of Civil Defense (OCD), Department of Environment and Natural Resources – Mines and Geosciences Bureau (DENR-MGB), the United Nations’ World Food Programme (WFP), and the local government units of Tuguegarao City, Legazpi City, Palo in Leyte, and New Bataan in Davao de Oro. Project collaborators include the National Economic and Development Authority (NEDA), Department of Finance (DOF), Climate Change Commission (CCC), and the Philippine Commission on Women (PCW).
READ MOREBaggao Mayor Leonardo C. Pattung (leftmost) and LANDBANK President and CEO Cecilia Cayosa Borromeo (5th from left) lead the inauguration rites for the LANDBANK Baggao Agri-Hub on 27 April 2023, at the Baggao LGU Compound, Brgy. San Jose, Baggao, Cagayan. Joining them are Vice Mayor Rowel B. Gazmen (3rd from left), former Cagayan 1st District Representative, Atty. Ramon C. Nolasco, Sr. (2nd from left), and from LANDBANK, Executive Vice President Liduvino S. Geron (4th from left) and Senior Vice President Ma. Belma T. Turla (6th from left). BAGGAO, Cagayan – Towards servicing the development needs of small farmers and fishers, the Land Bank of the Philippines (LANDBANK) officially inaugurated its newest Agri-Hub in the Municipality of Baggao – the very first in the Province of Cagayan. The LANDBANK Baggao Agri-Hub provides banking, lending, and agrarian services, all under one roof, for residents of the Municipality’s 48 barangays, including over 17,500 rice and corn farmers. The location of the Agri-Hub allows Baggaoeños to conveniently perform their banking transactions without having to travel all the way to Tuguegarao City, which is more than an hour away from Baggao. Local LANDBANK customers include more than 11,000 Conditional and Unconditional Cash Transfer beneficiaries of the Department of Social Welfare and Development (DSWD). Baggao Mayor Leonardo C. Pattung and LANDBANK President and CEO Cecilia Cayosa Borromeo led the inauguration rites on 27 April 2023. They were joined by Vice Mayor Rowel B. Gazmen, former Cagayan 1st District Representative, Atty. Ramon C. Nolasco, Sr., and from LANDBANK, Executive Vice President Liduvino S. Geron and Senior Vice President Ma. Belma T. Turla. “Kaisa po ninyo ang LANDBANK upang mas ilapit sa bawat mamamayan ng Baggao ang mga programa at proyekto ng ating pamahalaan. We look forward to more years of progressive partnership with the Baggao LGU as we explore more avenues for collaboration, in the service of Baggaoeños and the nation at large,” said President Borromeo. Located at the Baggao LGU Compound in Brgy. San Jose, the LANDBANK Baggao Agri-Hub is headed by Elcidita J. Villaruz under the supervision of Tuguegarao (Capitol) Branch Head, Joselita S. Simeon. The newly-inaugurated Agri-Hub forms part of LANDBANK’s physical network in the province, consisting of 10 Branches and Branch-Lite Units, 54 ATMs, seven CDMs, and one mobile ATM. “We want to convey our sincerest gratitude to LANDBANK for their unwavering assistance towards the convenience and welfare of Baggaoeños. The Baggao LGU will always be ready to support your undertakings, as we mutually fulfill our vision of providing responsive public service,” said Mayor Pattung. Strategically located in the top rice-producing provinces in the country, LANDBANK Agri-Hubs are designed to provide banking services such as account opening, withdrawals, and check encashments; lending services such as the processing of loan applications; and agrarian services such as processing of Agrarian Reform (AR) bonds and handling of agrarian-related concerns from landowners, bondholders, and Agrarian Reform Beneficiaries (ARBs). LANDBANK now operates a total of 16 Agri-Hubs nationwide, located in the Provinces of Pangasinan, Ilocos Sur, Isabela, Pampanga, Nueva Ecija, Oriental Mindoro, Camarines Sur, Negros Occidental, Iloilo, Bohol, Misamis Occidental, Misamis Oriental, Bukidnon, Sarangani, and Davao del Norte.
READ MORE(left photo) LANDBANK President and CEO Cecilia Cayosa Borromeo (leftmost) and Sta. Ana Vice Mayor Catherine J. Ladrido (rightmost) lead the inauguration of the LANDBANK CEZA (Cagayan) Branch-Lite (right photo) in the Municipality of Sta. Ana in Cagayan. Joining them are CEZA representative Engr. Carlo D. Sales (2nd from right), LANDBANK Director Atty. David D. Erro (5th from right), Executive Vice President Liduvino S. Geron (3rd from right), and Senior Vice President Ma. Belma T. Turla (4th from right). STA. ANA, Cagayan – The Land Bank of the Philippines (LANDBANK) officially inaugurated a branch-lite unit in this second-class town, in an effort to promote inclusive growth and development in the Province of Cagayan. Located on the ground floor of the Cagayan Special Economic Zone (CEZA) Corporate Center in Barangay Centro, the LANDBANK CEZA (Cagayan) Branch-Lite will provide convenient and accessible banking products and services to all the 16 barangays of Sta. Ana and the 25 barangays of Gonzaga. The new touchpoint will ease the burden of residents, including CEZA investors and co-locators, from traveling about 80 kilometers to perform their transactions at the nearest LANDBANK branch in the town of Aparri. LANDBANK President and CEO Cecilia Cayosa Borromeo and Sta. Ana Vice Mayor Catherine J. Ladrido led the inauguration rites for the LANDBANK CEZA (Cagayan) Branch-Lite on 28 April 2023. They were joined by CEZA Acting Head for Freeport Facility Department (FFD) and Environmental and Public Safety Department (EPSD) Engr. Carlo D. Sales, LANDBANK Director Atty. David D. Erro, Executive Vice President Liduvino S. Geron, and Senior Vice President Ma. Belma T. Turla. “The LANDBANK CEZA (Cagayan) Branch-Lite underscores the Bank’s continuing commitment to bolster economic growth in the municipality of Sta. Ana and its neighboring towns. This touchpoint makes banking products and services more accessible to Cagayanos, in line with the National Government’s financial inclusion agenda,” said LANDBANK President Borromeo. Meanwhile, Sta. Ana Vice Mayor Ladrido expressed her gratitude to LANDBANK for its continued support to the development of the town. “It is really through your support that changed the lives of many of our constituents here, including the agriculture and fisheries sector. Rest assured that we have rendered all our support to LANDBANK,” she said. The newly inaugurated branch-lite is also expected to service customers from geographically isolated and disadvantaged areas, including the coastal towns of Divilacan, Maconacon, Palanan, and Dinapigue in the Province of Isabela. Customers from the barangays of Bolos Point in Gattaran and Valley Cove in Baggao—where access roads to their respective commercial towns are still being developed—will also benefit from its services. The LANDBANK CEZA (Cagayan) Branch-Lite has an automated teller machine (ATM) and cash deposit machine (CDM) to facilitate cash withdrawals and real-time deposits for over 3,500 combined beneficiaries of the Conditional and Unconditional Cash Transfer (CCT/UCT) programs of the Department of Social Welfare and Development (DSWD), local government employees, private depositors, and other customers. To help simplify the account enrolment process and reduce the account opening time of customers, the branch-lite also features a Digital Corner where customers can conveniently open a deposit account using the LANDBANK Digital Onboarding System (DOBS). LANDBANK is the only bank present in all 82 provinces of the country, with 607 branches and branch-lite units, 58 lending centers, 2,906 ATMs, 224 CDMs, and 1,072 Agent Banking Partners (ABPs).
READ MORESan Jose City Mayor Mario O. Salvador (center) and LANDBANK Nueva Ecija Lending Center Head, Vice President Eduardo N. Reyes, Jr. (leftmost) lead the ceremonial signing of a P272-million loan agreement for the construction of public school buildings in the City. Joining them are City Treasurer Arnold A. Escuadro (4th from left), LANDBANK San Jose Branch Head Imelda G. Eusebio (2nd from left), and Account Officer Ruben A. Laureta (rightmost). SAN JOSE CITY, Nueva Ecija – The Land Bank of the Philippines (LANDBANK) has granted the City Government of San Jose a P272-million loan for the construction of new public school buildings, towards providing accessible and quality education for San Joseños. The San Jose LGU will use the funding to build 18 new public school buildings, 15 of which are allotted for elementary schools, two for secondary schools, and one for an integrated school. The project will be implemented in 15 different barangays, including areas with high incidence of drop-outs due to the lack of nearby educational facilities and high education cost incurred by mostly farmer-parents. “LANDBANK is committed to providing meaningful investments to advance inclusive, quality education. Our partnership with the City of San Jose will support its continuing development and transcend generations of residents,” said LANDBANK President and CEO Cecilia Cayosa Borromeo. Once completed and operational, the new school buildings will provide 115 additional classrooms to around 4,025 students at an ideal classroom to student ratio of 1:33. This will help accommodate more students, from 33,357 to 37,382, who mostly come from families of farmers, regular fixed income earners, and micro and small entrepreneurs. The project will also benefit the local economy by generating new employment to 72 additional teachers. San Jose City Mayor Mario O. Salvador and LANDBANK Nueva Ecija Lending Center Head, Vice President Eduardo N. Reyes, Jr. led the ceremonial signing of the loan agreement on 25 April 2023. They were joined by City Treasurer Arnold A. Escuadro, LANDBANK San Jose Branch Head Imelda G. Eusebio, and Account Officer Ruben A. Laureta. Mayor Salvador thanked LANDBANK for its support in providing better educational facilities to the youth of San Jose. “We aim to deliver quality convenient education through the construction of various school buildings, especially in remote areas of our community, which will minimize school drop-outs and ease the financial burden of parents,” said Mayor Salvador. LANDBANK has been a partner of the San Jose LGU since 2002 in delivering responsive and meaningful public services. The Bank has previously supported local development projects that include the acquisition of heavy equipment and construction of public market, farm to market roads, school buildings, overflow bridge, and other essential infrastructure facilities.
READ MOREThe Land Bank of the Philippines (LANDBANK) has countered the claim that it has ‘failed in its mandate’ with a report on its outstanding loans to the agriculture sector reaching P271.8 billion as of March 2023. It represents 14.8% year-on-year growth, with P42.3 billion of the loans directly benefitting small farmers and fishers nationwide. LANDBANK has remained faithful to its social mandate of promoting inclusive and sustainable development, primarily by being the biggest credit provider to the agriculture sector reaching all components of the agriculture value chain. The Bank’s total agri loan portfolio has sustained its upward trajectory with an average growth rate of 10.4% from 2012 to 2022, even as the agriculture sector grew sideways by an average of 0.64% in the same period. As the financial intermediary of the Comprehensive Agrarian Reform Program (CARP), LANDBANK has inspected and valued 1.6 million hectares of private agricultural lands distributed by the Department of Agrarian Reform (DAR) to 958,623 Agrarian Reform Beneficiaries (ARBs), with 90,995 landowners compensated amounting to P81.7 billion. The Bank has also extended P2.7 billion in loans to 2,356 individual ARBs and 469 ARB cooperatives and farmers’ associations nationwide. Financial leader and digital enabler Led by solid governance and leadership, the Bank continues to build its strong financial muscle to support other key development sectors. LANDBANK recorded a net income of P10.8 billion in the first quarter of the year, buoyed by higher revenues and lower operating costs. The Bank’s assets and capital both expanded year-on-year, while financial ratios likewise remain at healthy levels. As the country’s largest GOCC, LANDBANK has the financial capacity and resources, and experience to support the National Government’s development agenda. It is also supportive of strategic measures to promote greater operational efficiency, cost savings and stronger fiscal position to service the country’s development needs. Meanwhile, LANDBANK is the only State-run Bank that has continued to ramp-up its digitalization drive geared towards providing safe, accessible and convenient banking service to meet the growing needs of customers, with a 30% growth in value of transactions amounting to P735.95 billion for its major digital banking platforms in the first quarter of 2023 alone. LANDBANK likewise supports public and private partners to adopt digital payments for disbursements and collections. The Bank has onboarded 890 government merchants and 346 private entities in the LANDBANK Link.BizPortal payment platform as of 31 March 2023. LANDBANK is also the only government entity that offers an online ordering platform for bond issuances of the government, most recently the Retail Treasury Bonds Tranche 29 (RTB-29) of the Bureau of the Treasury (BTr). Development partner of LGUs and NGAs The Bank has maintained its dominance as the biggest development partner of the Local Government Units (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. Majority of National Government Agencies (NGAs) and other government-owned and controlled corporation (GOCCs) also have LANDBANK as their major depository bank, which also services their collection and disbursement requirements through the On-line National Collection System. The Bank also facilitates the collection of taxes for the Bureau of Internal Revenue (BIR) and collection of tariffs and duties for the Bureau of Customs (BOC), while servicing the payroll and grants of public partners and pensioners, respectively. Extensive network LANDBANK is the only bank present in all 82 provinces of the country, providing accessible products and services, including to underserved and remote communities. Bank touchpoints are composed of 607 branches and branch-lite units, 58 lending centers, 2,906 ATMs, 224 CDMs, and 1,751 Agent Banking Partners POS cash-out terminals. Clients may also access 2,391 PAPI ATMs located in 7-Eleven stores nationwide. Distribution arm of social protection programs LANDBANK serves as the main distribution arm of the National Government’s social protection programs, which include the delivery of cash grant to the 9.9 million beneficiaries of the country’s Conditional and Unconditional Cash Transfer programs. The Bank has also provided assistance to various sectors of the economy affected by the COVID-19 pandemic, delivering social amelioration support to displaced workers, small businesses, Overseas Filipino Workers (OFWs), and PUV drivers and operators. Through the years, LANDBANK has taken a more prominent role at the forefront of nation-building: from providing reliable banking services and financial interventions, to accelerating financial inclusion, supporting vulnerable sectors, revitalizing local economies, and pursuing initiatives in support of the National Government’s inclusive development agenda.
READ MORELynette V. Ortiz (right) takes her oath as the 11th President and CEO of LANDBANK before Finance Secretary and LANDBANK Chairman Benjamin E. Diokno (left) on 24 May 2023 at the DOF Building in Manila. May 24, 2023 – Seasoned banker Lynette V. Ortiz was sworn in today as the new President and Chief Executive Officer of the Land Bank of the Philippines (LANDBANK) following her recent appointment by President Ferdinand R. Marcos, Jr. She brings with her over 30 years of extensive experience in local and international banking. Ortiz formally took her oath as the 11th President and CEO of LANDBANK before Finance Secretary and LANDBANK Chairman Benjamin E. Diokno at the DOF Building in Manila. She succeeds Cecilia Cayosa Borromeo who held the post for four years. Prior to her appointment in LANDBANK, Ortiz served as the first Filipino CEO of the Standard Chartered Bank (SCB) Philippines, a post she held since October 2016. She led strategies to grow the local franchise across the various client segments and deliver sustainable financial performance. She also held various senior posts in risk management, treasury, corporate finance and capital markets in foreign and local institutions. “I recognize the highly important role of LANDBANK in nation-building, and I am keen to contribute and infuse ideas and innovations that will further fortify the Bank in fulfilling its social mandate. I hope to bring in a fresh perspective drawn from my experience working in global organizations,” Ortiz said. Ortiz has spearheaded several landmark transactions in both domestic and international capital markets for Philippine and ASEAN issuers. She serves as First Vice President in the Board of the Bankers Association of the Philippines (BAP), and is also a member of the BAP Executive Committee. She vowed to build on the gains of LANDBANK in supporting agriculture and other key industries, expanding financial inclusion, delivering assistance to marginalized and vulnerable sectors, and supporting other players in advancing inclusive development agenda. “With the support of the entire LANDBANK team, we will work to make our operations more dynamic and responsive to address the changing needs of our highly diverse customers and stakeholders, while remaining viable and competitive,” according to Ortiz. A strong advocate for diversity and inclusion, Ortiz was named UN Women 2021 Philippine Women’s Empowerment Principles Awards Champion for Leadership Commitment recognizing her role in setting strong corporate commitments and inclusive leadership.
READ MOREAs of Thu, June 19, 2025
| Buying | Selling | |
|---|---|---|
| USD | 56.85 | 57.55 |
| JPY | 0.386465 | 0.401335 |
| EUR | 64.363801 | 66.848651 |
| GBP | 75.253664 | 78.158931 |
| HKD | 7.215887 | 7.75286 |
As of Wed, June 18, 2025
| UITF | NAVPU |
|---|---|
| Cash Management Fund | 1.567055 |
| Money Market Fund | 1.318249 |
| Money Market Plus Fund | 1.230686 |
| PERA Money Market Fund | 1.027957 |
| Medium-Term Bond Fund | 2.481467 |
| Bond Fund | 2.026902 |
| PERA Bond Fund | 1.201009 |
| Balanced Fund | 2.674433 |
| Growth Fund | 2.643801 |
| Alpha Equity Fund | 3.091873 |
| Blue Chip Equity Fund | 0.976162 |
| Equity Fund | 0.814599 |
| High Dividend Equity Fund | 1.024096 |
| US$ Money Market Fund | 1.438105 |
| Global $ Fund | 1.537131 |
