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LANDBANK boosts support for Cebu with new branch-lite
LANDBANK President and CEO Lynette V. Ortiz (3rd from right), together with Tourism Secretary and former Liloan Mayor Ma. Esperanza Christina Garcia Frasco (4th from right), House Deputy Speaker and Cebu 5th District Representative Vincent Franco D. Frasco (5th from right), and Liloan Mayor Aljew Fernando J. Frasco (6th from right), leads the inauguration of the LANDBANK Liloan Branch-Lite on 08 December 2023. Joining them are LANDBANK Directors Atty. David D. Erro (leftmost) and Nancy D. Irlanda (2nd from left), Liloan Vice Mayor Darwin T. Apas (7th from left), and other local officials. LILOAN, Cebu – The Land Bank of the Philippines (LANDBANK) opened a new branch-lite unit in this first-class town, as part of its commitment to promote greater financial inclusion and bolster Cebu Province’s bid for sustainable development. Located in front of the New Liloan Public Market in Barangay Jubay, the LANDBANK Liloan Branch-Lite brings banking services closer to residents of the 31 combined barangays of Liloan and neighboring town of Compostela, eliminating the need for clients to travel about 30 minutes to reach the nearest LANDBANK branches in the Municipality of Consolacion and Cities of Danao and Mandaue. “The presence of LANDBANK in Liloan is a testament to their commitment to serving the needs of our citizens, from farmers cultivating our fertile lands to entrepreneurs striving to build businesses, to big corporations and factories providing jobs to Liloanon—these will all contribute to the economic vitality of Liloan,” said Liloan Mayor Aljew Fernando J. Frasco. The newly inaugurated LANDBANK branch-lite will serve and benefit around 2,000 farmers and fishers; 5,600 Conditional and Unconditional Cash Transfer (CCT/UCT) program beneficiaries of the Department of Social Welfare and Development (DSWD); government employees; and local and multinational businesses, among other private depositors. LANDBANK President and CEO Lynette V. Ortiz, along with Department of Tourism (DOT) Secretary and former Liloan Mayor Ma. Esperanza Christina Garcia Frasco, House Deputy Speaker and Cebu 5th District Representative Vincent Franco D. Frasco, and Liloan Mayor Frasco, led the inauguration rites on 08 December 2023. Joining them were Liloan Vice Mayor Darwin T. Apas, LANDBANK Directors Atty. David D. Erro and Nancy D. Irlanda, LANDBANK Executive Vice President Liduvino S. Geron, Senior Vice Presidents Khurshid U. Kalabud, Elsie Fe NB. Tagupa, and Catherine Rowena B. Villanueva, and other local government officials. “With the opening of the LANDBANK Liloan Branch-Lite, we are enthusiastic about further enhancing our support to Liloan. We hope to draw more investors to the town and help fast-track sustainable growth for all,” said LANDBANK President Ortiz. The newly inaugurated branch-lite features an automated teller machine (ATM) for fast, safe, and convenient cash withdrawals, and a Digital Corner where clients can open a deposit account in 15 minutes or less using the LANDBANK Digital Onboarding System (DOBS). LANDBANK now operates 27 branches and branch-lite units, and two lending centers across Cebu, complemented by 143 ATMs, five cash deposit machines (CDMs), and 19 LANDBANKasama Agent Banking Partners operating 59 Point-of-Sale (POS) terminals to service underserved communities. Cebuanos can also enjoy free cash withdrawals at 173 ATMs located in 7-Eleven convenience stores across the province, as part of the Bank’s partnership with Pito Axm Platform, Inc. (PAPI). During the event, LANDBANK President Ortiz also reaffirmed LANDBANK's commitment to supporting inclusive and sustainable development in Liloan and Cebu by extending financial support for priority projects. Beyond expanding its loan portfolio for the agriculture sector, LANDBANK aims to further support the town's tourism sector to stimulate employment opportunities and economic activities. LANDBANK is the only bank present in all 82 Philippine provinces with 606 branches and branch-lite units and 59 lending centers, and is committed to bring convenient banking services and accessible financial assistance closer to Filipinos nationwide.
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Conveniently settle traffic fines online via LANDBANK
Photo courtesy of Patrick Garcia, Manila Bulletin SAN JUAN CITY – Traffic violators can now settle their fines and charges conveniently through the Link.BizPortal, the online payment facility of the Land Bank of the Philippines (LANDBANK), which has been integrated into the San Juan City Government’s webpage. LANDBANK joined the City Government of San Juan and the Metropolitan Manila Development Authority (MMDA) in launching the implementation of the Metro Manila Single Ticketing System (STS) in San Juan City on 15 November 2023. Photo shows San Juan City Mayor and Metro Manila Council President Francis Zamora (4th from left) with MMDA Chairman Romando Artes (3rd from left) leading the launching of the program, alongside San Juan City Vice Mayor Angelo Agcaoili (6th from left), MMDA Director Victor Nuñez (rightmost), and Land Transportation Office (LTO) Regional Director Noreen San Luis-Lutey (5th from left), together with LANDBANK Vice President Emelyn Justiniano (2nd from left) and San Juan Branch Head Zenaida R. Rodenas (leftmost).
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LANDBANK, PDIC partner for swift deposit insurance claims
LANDBANK President and CEO Lynette V. Ortiz (3rd from left) and PDIC President Roberto B. Tan (2nd from left) lead the signing of the IRR and Data Sharing Agreement for the issuance of LANDBANK VISA Debit Cards to deposit insurance claimants of closed bank depositors, witnessed by PDIC Vice President Adalzon P. Banogon (leftmost) and LANDBANK Executive Vice President Liduvino S. Geron (rightmost). To expedite the disbursement of insurance claims, the Land Bank of the Philippines (LANDBANK) and the Philippine Deposit Insurance Corporation (PDIC) have partnered to provide LANDBANK accounts to Deposit Insurance Claimants (DICs) affected by bank closures. LANDBANK and PDIC signed the Implementing Rules and Regulations (IRR) and Data Sharing Agreement on 23 November 2023 in Makati City for the issuance of LANDBANK VISA Debit Cards to deposit insurance claimants of closed bank depositors. The partnership was formalized by LANDBANK President and CEO Lynette V. Ortiz and PDIC President Roberto B. Tan, with LANDBANK Executive Vice President Liduvino S. Geron and PDIC Vice President Adalzon P. Banogon as witnesses. "LANDBANK is one with PDIC in ensuring the swift disbursement of insurance claims. It is our privilege to complement your programs through our innovative banking solutions for the benefit of depositors," said LANDBANK President Ortiz. DICs can use the VISA Debit Cards at LANDBANK’s extensive network of 606 branches and branch-lite units across all 82 provinces of the country, ensuring access in even the most remote areas and communities nationwide. The LANDBANK VISA Debit Cards can also be used at 2,984 LANDBANK ATMs nationwide. DICS can also perform cash withdrawal and balance inquiry for free from 2,807 7-Eleven ATMs in Metro Manila and other major provinces in the country. "We extend our heartfelt gratitude to LANDBANK for embarking on this journey with us, being PDIC's unwavering ally in providing depositor protection to our countrymen," said PDIC President Tan. DICS can open a LANDBANK account through the Digital Onboarding System (DOBS), enabling clients to initiate the process online before visiting the branch to finish the account opening in as fast as 15 minutes. Clients also get access to LANDBANK’s digital banking products and services, including the Mobile Banking App, for more efficient and convenient management of finances. The collaboration between LANDBANK and PDIC is geared towards the protection of depositors and enhancement of public service delivery through the use of digital banking solutions.
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LANDBANK contributes P7-B sales in maiden tokenized treasury bonds
The Land Bank of the Philippines (LANDBANK) contributed P7 billion in sales to the country’s first-ever Tokenized Treasury Bonds (TTBs) issuance of the Bureau of the Treasury (BTr), in support of the National Government’s push for a financially inclusive domestic capital market. LANDBANK was lead Issue Manager with the Development Bank of the Philippines (DBP) for the maiden offering of TTBs and brought half of the total issued size of P15 billion. The TTBs are fixed-income government securities that are stored as digital tokens in the digital wallets of investors. It is supported by a dual registry structure where the National Registry of Scripless Securities (NRoSS) operates in parallel with a Distributed Ledger Technology (DLT)-based registry through blockchain technology. “The Tokenized Treasury Bonds exemplifies a forward-looking approach in promoting accessibility, convenience, efficiency, and transparency towards enhancing the overall investor experience. With the adoption of blockchain technology, we are also ensuring the integrity of transactions while providing investors with an increased level of trust and security,” said LANDBANK President and CEO Lynette V. Ortiz. The maiden issuance of TTBs was made available to qualified institutional buyers in minimum denominations of P10 million and increments of P1 million thereafter. These one-year peso-denominated bonds fetched a coupon rate of 6.50% per annum, payable every six months until maturity in November 2024. The tokenization of treasury bonds demonstrates the National Government’s vision of democratizing access to government securities by streamlining settlement procedures and minimizing friction costs. Following the successful debut, the BTr is looking to extend tokenized bonds to Filipino retail investors. LANDBANK remains committed to supporting the National Government’s bond offerings, as part of its efforts to promote greater financial inclusion and broader participation in the bond market.
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LANDBANK expands reach in Western Visayas via agent partners
(top photo) LANDBANK President and CEO Lynette V. Ortiz (middle) leads the onboarding of Hinigaran Multi-Purpose Cooperative (HMPC) and Guimaras Employees Multi-Purpose Cooperative (GEMPC) as new LANDBANKasama Partners in Western Visayas alongside other LANDBANK officials and officers on 7 December 2023 at the Iloilo Provincial Capitol, Iloilo City. (bottom-left photo) Department of Social Welfare and Development (DSWD) Assistant Regional Director Joselito G. Estember (middle) and other DSWD officers and staff join the rollout, where (bottom-right photo) beneficiaries of the Conditional Cash Transfer (CCT) Program successfully withdraw funds conveniently as assisted by LANDBANKasama Partners. ILOILO CITY – In stride with extending greater financial access to Western Visayans, the Land Bank of the Philippines (LANDBANK) onboarded two new LANDBANKasama Partners on 7 December 2023 at the Iloilo Provincial Capitol, Iloilo City. Under the LANDBANKasama Program, the state-run Bank is partnering with client cooperatives, associations, rural banks, local government units (LGUs), micro, small and medium enterprises (MSMEs), and private entities to help provide basic banking services on behalf of the Bank to areas with limited or no accessible banks. The new LANDBANKasama Partners – Hinigaran Multi-Purpose Cooperative (HMPC) and Guimaras Employees Multi-Purpose Cooperative (GEMPC) – will enable Western Visayans to enjoy convenient banking services without having to travel long distances to other towns to transact at the nearest LANDBANK branch. "Through LANDBANKasama, we are leveraging the power of digital banking and strategic local partnerships to provide basic banking services to remote, underserved, and unbanked communities nationwide. We look to advance greater financial access to clients and stakeholders who need our services the most," said LANDBANK President and CEO Lynette V. Ortiz. President Ortiz led the LANDBANKasama rollout with Provincial Government of Iloilo Vice Governor Christine S. Garin and Administrator Dr. Raul N. Banias, and Department of Social Welfare and Development (DSWD) Assistant Regional Director Joselito G. Estember. They were joined by new LANDBANKasama Partners represented by HMPC Project Manager Happy Elaine G. Aguilar and GEMPC Manager Raymundo Lao, alongside LANDBANK Director Nancy D. Irlanda, and First Vice Presidents Vivian M. Cañonero and Ma. Elenita N. Manucom, among other local and LANDBANKasama Partners. The HMPC touchpoint located at San Agustin Heights, Brgy. Narauis, Hinigaran, Negros Occidental, will help serve the banking requirements of all 24 barangays and nearby municipalities of Isabela and Pontevedra. Meanwhile, the GEMPC partner at San Miguel, Jordan, is expected to bring financial access closer to all of the five municipalities of Guimaras, namely Buenavista, Jordan, Nueva Valencia, San Lorenzo, and Sibunag. Financial inclusivity through innovative partnerships LANDBANKasama is a rebrand of the Bank’s Agent Banking Program (ABP), called as such to better captures the goals of the Program to create strategic points of banking access and promote collaboration towards expanding financial inclusion. LANDBANKasama Partners offer various services including cash withdrawal, cash deposit, fund transfer, bills payment, and balance inquiry, and benefit beneficiaries of the Conditional Cash Transfer (CCT) program of the DSWD, as well as government employees, teachers, students, and other private clients in the area. Aside from LANDBANK prepaid accounts, LANDBANKasama also now allows clients to make transactions using their LANDBANK savings accounts. The Program also seeks to empower and benefit customers through lower transaction costs, and enable potential savings on travel and associated expenses for clients located outside of municipal or city centers. With the onboarding of the two partner cooperatives, LANDBANK has a network of 1,086 LANDBANKasama Partners nationwide, 129 of which are in the Western Visayas Region. LANDBANK remains steadfast with its commitment to deliver innovative and inclusive financial services to all Filipinos, extending its reach to serve even the most remote communities nationwide.
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LANDBANK supports ACEN’s RE projects with P20-B loan
(front) LANDBANK President and CEO Lynette V. Ortiz (right) and ACEN President and CEO Eric Francia (left) lead the signing of a P20-Billion loan agreement to fund ACEN’s general corporate requirements and investments in renewable energy projects on 29 November 2023 in Makati City. Joining them (from L-R) are ACEN Chief Finance and Compliance Officer Maria Corazon Dizon, Treasurer Cecile Cruzabra, and Head of Corporate Finance Juan Martin Syquia, alongside LANDBANK Senior Vice Presidents Lucila E. Tesorero and Ma. Celeste A. Burgos. MAKATI CITY – The Land Bank of the Philippines (LANDBANK) approved a P20-billion loan to ACEN CORPORATION (ACEN)—the listed energy platform of the Ayala Group—in support of the National Government’s thrust to expand the country’s mix of renewable energy. The LANDBANK loan will partially finance ACEN’s general corporate requirements and investments in renewable energy projects, which are aligned with the government’s target under the National Renewable Energy Program to increase the share of renewable energy in the country’s power generation mix from the current 22% to 35% by 2030. LANDBANK President and CEO Lynette V. Ortiz and ACEN President and CEO Eric Francia formalized the loan agreement on 29 November 2023 at the Ayala Triangle Gardens, Makati City. They were joined by ACEN Corporation Chief Finance and Compliance Officer Maria Corazon Dizon, Treasurer Cecile Cruzabra and Head of Corporate Finance Juan Martin Syquia, alongside LANDBANK Senior Vice Presidents Ma. Celeste A. Burgos and Lucila E. Tesorero. “LANDBANK is proud to collaborate with ACEN, as we continue to build strategic partnerships to address the impact of global warming and climate change in the country. More than just a loan agreement, we see this partnership as an important step that supports the greening of our energy sector,” said LANDBANK President Ortiz. ACEN has ~4,500 MW of attributable capacity from its owned facilities in the Philippines, Australia, Vietnam, Indonesia and India, with a renewable share of 98%, which is among the highest in the region. This year, ACEN allocated up to P50 billion to continue growing its renewable energy portfolio. LANDBANK’s loan to ACEN underscores the Bank’s thrust of promoting sustainable finance and environmental protection, while funding key economic development sectors to help address the consequences of climate change.
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LANDBANK named top GOCC in corporate governance
LANDBANK President and CEO Lynette V. Ortiz (middle) receives an award for the Bank from Executive Secretary Lucas P. Bersamin (6th from left), GCG Chairperson Atty. Marius P. Corpus (7th from left), and GCG Commissioners Atty. Geraldine Marie Berberabe-Martinez (3rd from left) and Atty. Brian Keith F. Hosaka (2nd from left), for ranking among the top GOCCs based on the Performance Scorecard for 2022. LANDBANK also topped the rankings in terms of governance among all GOCCs based on the GCG Corporate Governance Scorecard. In line with its continued commitment to outstanding service delivery, the Land Bank of the Philippines (LANDBANK) garnered the highest rating for corporate governance in 2022 from the Governance Commission of GOCCs (GCG). During the GOCC Governance Awards Ceremony held on 20 November 2023 at the PICC Complex in Pasay City, the state-run Bank ranked first among government-owned and controlled corporations (GOCCs) in the country with a score of 102.50 on the GCG’s Corporate Governance Scorecard (CGS). “The principles of good corporate governance—accountability, transparency, fairness, and responsibility—are the pillars upon which our institution stands. These principles guide our operations, ensuring that we remain credible to all our stakeholders, stable in our financial dealings, and steadfast in our commitment to ethical practices,” said LANDBANK President and CEO Lynette V. Ortiz. President Ortiz personally received the award together with other Bank officials, namely Executive Vice President Alex A. Lorayes; Senior Vice Presidents Elcid C. Pangilinan and Atty. Joselito B. Vallada; First Vice President Atty. Roderick P. Sacro; and Vice Presidents Atty. Myra-Lyn S. Peñalosa and Atty. Nikkolas G. Tolentino. LANDBANK Executive Vice President Liduvino S. Geron and Senior Vice President Marilou L. Villafranca also graced the event as Chairman and Board Member, respectively, representing the Bank’s subsidiary, UCPB Savings Bank. LANDBANK has consistently garnered high marks in the CGS, which evaluates the governance policies and practices of GOCCs on Stakeholder Relationships, Disclosure and Transparency, and Responsibilities of the Board. The scorecard also assesses the corporate governance practices of GOCCs based on existing corporate governance guidelines. The Bank was likewise recognized as among the top-performing GOCCs overall based on its 2022 GCG Performance Scorecard, which provides measures, targets, and success indicators based on the mandates and long-term vision of a GOCC, to evaluate its contribution to the National Government’s development agenda. Meanwhile, two of LANDBANK’s subsidiaries also placed among the top 10 GOCCs in the corporate governance rankings. The LBP Insurance Brokerage Inc. (LIBI) ranked seventh with an overall rating of 97.92, while the LBP Resources and Development Corporation (LBRDC) placed ninth with a 96.50 rating. “Corporate governance is not just about compliance and meeting financial goals; it's about upholding public trust and ensuring that every action we take aligns with the greater good of our community and nation,” President Ortiz added. As part of its continued commitment to deliver quality financial and support services in serving the nation, LANDBANK maintains a strong corporate governance culture anchored on integrity, transparency, and accountability.
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LANDBANK expands operations in Davao de Oro, opens new branch
(left photo) LANDBANK President and CEO Lynette V. Ortiz (6th from right) and Davao de Oro First District Representative Congresswoman Maria Carmen S. Zamora (8th from right) lead the ribbon cutting at the inauguration of the LANDBANK Monkayo Branch in Davao de Oro on 09 November 2023. Joining them are LANDBANK Director Atty. David D. Erro (4th from right), Monkayo Councilor Manuel N. Zamora, Jr. (10th from right), together with other LANDBANK senior executives and local government officials. MONKAYO, Davao de Oro – The Land Bank of the Philippines (LANDBANK) continues to advance financial inclusion in the country with the opening of its newest branch in the first-class town of Monkayo in the province of Davao de Oro. Located in Barangay Poblacion, the LANDBANK Monkayo Branch makes banking services more convenient to clients from the 73 combined barangays of Monkayo and the neighboring towns of Compostela, Montevista and New Bataan. This is the second LANDBANK branch in Davao de Oro, replacing the previous LANDBANK Easy Access Facility (LEAF) in the municipality, to provide improved and expanded banking services to the Province. LANDBANK President and CEO Lynette V. Ortiz and Davao de Oro First District Representative Congresswoman Maria Carmen S. Zamora led the inauguration rites for the LANDBANK Monkayo Branch on 09 November 2023. They were joined by LANDBANK Director Atty. David D. Erro, Monkayo Councilor Manuel N. Zamora, Jr., and other LANDBANK senior executives and local government officials. “To keep in stride with local developments—not to mention Monkayo being the most populous town in the Province—we deemed it fitting to upgrade the previous LEAF into a full-fledged branch. We are now able to offer a wider range of services, as we complement the local government's vision of establishing a one-stop shop for basic public services,” said LANDBANK President Ortiz. For her part, Congresswoman Zamora thanked LANDBANK for its unwavering service to the nation and the Filipino people. “Without LANDBANK, government could not reach far-flung areas and could not reach ordinary Filipinos who need services,” she said. The newly inaugurated branch is equipped with an automated teller machine (ATM) and cash deposit machine (CDM) to facilitate fast, safe, and timely cash withdrawals and deposits of residents from the covered areas. LANDBANK clients who will benefit from the new touchpoint include over 53,000 Conditional and Unconditional Cash Transfer (CCT/UCT) program beneficiaries of the Department of Social Welfare and Development (DSWD), 7,000 farmers and fishers, as well as government employees, teachers, and students, among others. The LANDBANK Monkayo Branch likewise features a Digital Corner where customers can open a deposit account in as fast as 15 minutes or less using the Bank’s Digital Onboarding System (DOBS). Opening an account via DOBS provides automatic enrollment to LANDBANK’s digital banking channels for safe and convenient online transactions. LANDBANK is the only bank present in all 82 provinces in the country, with a network of 606 branches and branch-lite units and 59 lending centers, 16 of which are in Mindanao. LANDBANK’s continued expansion across the country underscores its commitment to bringing banking services closer to its mandated and priority sectors, especially in unbanked and underserved areas.
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Batanes LGU, LANDBANK ink partnership for convenient online payments
Batanes Governor Marilou H. Cayco (2nd from left) and LANDBANK Basco Branch Head Joseph Caliguiran (3rd from left) lead the MOA signing for the use of the LANDBANK Link.BizPortal facility on 12 October 2023. Joining them are Acting Provincial Treasurer Cristina Caccam (leftmost) and LANDBANK Acting Branch Service Officer Aniceto Ferdinand Mariano (rightmost). BASCO, Batanes – The Provincial Government of Batanes and the Land Bank of the Philippines (LANDBANK) have partnered for the use of the Bank’s Link.BizPortal channel to facilitate online payments for the local government unit (LGU). The LANDBANK Link.BizPortal allows residents to conveniently settle local fees, dues, and charges online at their convenience with just a few clicks on their computers or mobile devices. “LANDBANK will continue to support the digital journey of Batanes with innovative products and services. We look forward to more fruitful collaborations in advancing responsive public service delivery,” said LANDBANK President and CEO Lynette V. Ortiz. Batanes Governor Marilou H. Cayco and LANDBANK Basco Branch Head Joseph Caliguiran led the signing of the Memorandum of Agreement for the partnership at the Provincial Governor’s Office on 12 October 2023. Governor Cayco thanked LANDBANK for its continued assistance and promoted the utilization of the Link.BizPortal among Ivatans. “Dahil dito, mas mapapadali at mapapagaan ang pagbabayad ng ating mga customers. Maraming salamat sa buong LANDBANK lalo na kay Manager Caliguiran sa walang humpay na tulong sa Kapitolyo at sa buong Batanes,” Governor Cayco said. The Provincial Government of Batanes has been the top depositor of the LANDBANK Basco Branch since 1992 and remains among its valued clients. It is also the first LGU in Batanes to avail of the Bank’s various digital banking products, including ATM payroll servicing and weAccess, among others.
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P4.3-B LANDBANK loan to back Pangasinan’s infra, health dev’t
Pangasinan Governor Ramon V. Guico III (3rd from left) and LANDBANK President and CEO Lynette V. Ortiz (4th from left) lead the signing of a P4.3 billion sub-loan agreement to finance the Pangasinan LGU’s various development projects on 25 October 2023 at the LANDBANK Plaza in Malate, Manila. They are joined by Vice Governor Mark Ronald DG. Lambino (2nd from left), Provincial Administrator Melicio F. Patague II (leftmost), and LANDBANK Senior Vice Presidents Ma. Celeste A. Burgos (5th from left) and Filipina B. Monje (rightmost). MALATE, Manila – The Land Bank of the Philippines (LANDBANK) greenlighted a P4.3 billion loan to the Provincial Government of Pangasinan, geared towards the improved delivery of public, health and tourism services in the Province. The loan is part of the P6 billion omnibus term loan agreement signed by the LGU and the state-run Bank earlier this year to fund the priority development projects in Pangasinan. The signing of the agreement was led by Pangasinan Governor Ramon V. Guico III and LANDBANK President and CEO Lynette V. Ortiz on 25 October 2023 at LANDBANK Plaza in Malate, Manila. They were joined by Vice Governor Mark Ronald DG. Lambino, Provincial Administrator Melicio F. Patague II, Acting Provincial Treasurer Cristy C. Ubando, Provincial Legal Officer Atty. Baby Ruth F. Torre and Provincial Accountant Atty. Marlon C. Operaña, along with LANDBANK Senior Vice Presidents Ma. Celeste A. Burgos and Filipina B. Monje. “LANDBANK remains committed to supporting Pangasinan’s transformative journey towards a more inclusive and sustainable local economy through our wide array of support services. We look to expedite progress within the Province for the improved delivery of basic and medical services, increased socio-economic activities, and a more robust local tourism sector,” said President Ortiz. Of the P4.3 billion loan, P1.8 billion is earmarked for the construction of an 11-storey government center in the Municipality of Lingayen, designed to house the offices of the Provincial Government and national government agencies. Another P500 million is allocated for the development of the Provincial Capitol Complex. To provide better health care for Pangasinenses, P758 million will be used for the purchase of advanced hospital equipment, including computed tomography (CT) scanners, x-ray, magnetic resonance imaging (MRI), and ultrasound machines for the Pangasinan Provincial Hospital, six (6) district hospitals and seven (7) community hospitals in the Province. Meanwhile, P700 million is set to fund the acquisition of land and construction of support facilities for the Bolinao airport in Bolinao, Pangasinan. The remaining P500 million will help establish a corporate center for businesses and other commercial spaces to help stimulate local economic activity. “We’re rolling out and implementing impactful projects that will boost the economy and improve the lives of our people. We are thankful for our partners like LANDBANK, who are ready to support us as we invest in the future of Pangasinan,” said Governor Guico III. LANDBANK remains a major development partner of the local government sector, supporting the financing requirements for inclusive local development in line with its broader thrust of serving the nation.
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Empowering Filipino communities abroad: LANDBANK, OFBank to offer financial education for Pinoys in Italy, Switzerland
(left photo) Philippine Ambassador to Italy Neal Imperial (middle), LANDBANK President and CEO Lynette V. Ortiz (leftmost), and OFBank President and CEO Randolph L. Montesa (rightmost) sign an agreement for the conduct of financial education seminars for overseas Filipinos in Italy at the Philippine Embassy in Rome on 12 October 2023. (right photos) Leaders and members of Filipino communities in Rome and Milan participate in the financial education seminars conducted by LANDBANK and OFBank, in partnership with other government agencies. About 180,000 Filipinos living and working in Italy and Switzerland are expected to benefit from a series of free financial education seminars of the Land Bank of the Philippines (LANDBANK) and the Overseas Filipinos Bank (OFBank), in line with the National Government’s push for greater financial inclusion. The state-run banks will be working closely with the Philippine embassies and consulates from the two countries, along with the Department of Migrant Workers’ (DMW) overseas operating arms, to provide overseas Filipinos (OFs) and overseas Filipino workers (OFWs) with basic knowledge on saving, digital banking, financial security, and investing. The free financial education seminars also cover discussions on innovative banking solutions offered by LANDBANK and OFBank to better manage finances, which include safe and secure savings options, real-time fund transfer service for remittances, investment instruments, and loan products. “Providing financial education—particularly to our kababayans abroad—goes a long way in contributing to the economic growth and stability of the Philippines. This will complement ongoing efforts of other government agencies to support and empower OFWs and other Filipinos overseas towards greater financial freedom, stability, and prosperity,” said LANDBANK President and CEO Lynette V. Ortiz. Financial education seminars for around 167,000 Filipinos in Italy will be organized as part of the agreement between LANDBANK, OFBank, and the Philippine Embassy in Rome. This collaboration was formalized by Philippine Ambassador to Italy Neal Imperial, LANDBANK President Ortiz, and OFBank President and CEO Randolph L. Montesa on 12 October 2023 at the Philippine Embassy in Rome. Following the agreement, three financial education seminars were held in the cities of Rome, Milan, and Bologna from October 12 to 15 that gathered around 350 leaders and members of Filipino communities in Italy. Participants were able to open OFBank accounts during the seminars and enjoy the convenience of digital banking. In coordination with the Philippine Mission to the United Nations and Philippine Consulate General in Geneva, LANDBANK and OFBank also conducted a financial education seminar in Geneva, Switzerland on 16 October 2023. About 80 overseas Filipinos participated in the event and successfully opened online bank accounts. The state-run banks aim to hold free seminars in Switzerland for the benefit of over 14,600 overseas Filipinos there. LANDBANK and OFBank remain steadfast in their mutual commitment to promoting financial inclusion and security among overseas Filipinos and their families by equipping them with the necessary financial knowledge and resources.
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LANDBANK disburses P1.1-B fuel subsidy to 190K PUV drivers
The Land Bank of the Philippines (LANDBANK) has delivered P1.1 billion worth of fuel subsidy to 190,130 public utility vehicle (PUV) drivers and operators as of 09 November 2023, as part of its continued support to the transport sector amid rising fuel prices. Under the Fuel Subsidy Program of the Department of Transportation (DOTr) and the Land Transportation Franchising and Regulatory Board (LTFRB), LANDBANK has distributed subsidies to drivers and operators of public utility jeepneys and buses, taxis, and transportation network vehicle services (TNVS), among other qualified beneficiaries. “LANDBANK is one with the National Government in extending timely and responsive assistance to the local transport sector. Rest assured that we are ramping up the delivery of fuel subsidy to support PUV drivers and operators nationwide,” said LANDBANK President and CEO Lynette V. Ortiz. LANDBANK is closely coordinating with the DOTr and LTFRB for the immediate distribution of financial aid to a total of 1.36 million target beneficiaries under the Fuel Subsidy Program. LTFRB is continuing to submit lists of qualified beneficiaries to LANDBANK, while the Bank is facilitating the crediting of fuel subsidies through the beneficiaries’ existing accounts in LANDBANK and other banks. Under the Program, drivers and operators of modernized public utility jeepneys and utility van (UV) express units receive P10,000.00 each, while drivers and operators of traditional PUV and TNVS receive P6,500.00 each. LANDBANK resumed the distribution of fuel subsidies to qualified PUV drivers under the Fuel Subsidy Program on 21 September 2023, after the Commission on Elections (COMELEC) approved the LTFRB's request to exempt the Program from the election spending ban.
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