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LANDBANK ranked among world’s best employers by Forbes
The Land Bank the Philippines (LANDBANK) was ranked by Forbes as the 6th best employer in the Philippines for 2023—the only government institution to achieve this distinction. The state-run Bank also placed 304th overall globally in the latest Forbes’ World’s Best Employer list, based on a survey of over 170,000 employees from multinational companies and institutions in over 50 countries. The survey rated employers based on various criteria that includes talent development, remote working options, parental leave benefits, diversity, work-life balance, and pride in the company’s products or services. "Our employees are our greatest asset, right at the center of our vision, purpose, and mandate as a development institution. This recognition highlights our continuous commitment to prioritize our employees and put them in positions where they can best grow and succeed," said LANDBANK President and CEO Lynette V. Ortiz. Based on Forbes’ survey, LANDBANK’s efforts to maintaining a positive workplace contributed significantly to its ranking, coupled by its dedication to providing employees with opportunities for professional growth and ensuring a balanced work-life equation. LANDBANK is focused on further enhancing its talent management, strive for employee satisfaction, and cultivate a collaborative work culture towards delivering service excellence. The Bank implements various policies centered on physical and mental wellness, and facilitates relevant training and development programs. LANDBANK is celebrating its 60th anniversary this year, representing six decades of uplifting lives, empowering communities, and serving the nation — all in pursuit of an inclusive and sustainable economy.
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LANDBANK waives fees for fund transfers below P1k
Customers of the Land Bank of the Philippines (LANDBANK) can now enjoy free online fund transfers to other banks via InstaPay and PESONet for transactions worth P1,000 and below effective 01 November 2023. For interbank fund transfers amounting to more than P1,000, customers can continue to enjoy a lowered fixed transaction fee of P15 from the previous rate of P25. LANDBANK’s waiving of transfer fees helps clients send money to loved ones in a safe, secure, and convenient manner, towards advancing greater financial inclusion and participation in the digital economy. “We are thrilled to announce that LANDBANK is waiving transaction fees for small-value online fund transfers to other banks. This is our holiday gift to our valued customers, as we continue to promote safe and convenient digital transactions,” said LANDBANK President and CEO Lynette V. Ortiz. LANDBANK clients can enjoy waived transfer fee for their first three online fund transfers/transactions in a day via the LANDBANK Mobile Banking App (MBA), and the Bank’s online retail banking channel, the iAccess. Fund transfers from and to LANDBANK and Overseas Filipino Bank (OFBank) accounts, regardless of the amount, remain free of charge. The latest move of LANDBANK supports the call of the Bangko Sentral ng Pilipinas (BSP) to promote cashless payments by removing the fees on small-value fund transfers. Last July, LANDBANK increased the daily aggregate amount limit of fund transfers via InstaPay from P50,000 to P100,000 and via PESONet up to P500,000 and P1.5 million in LANDBANK MBA and iAccess, respectively. Daily transaction limit for fund transfer and bills payment has been removed, allowing customers to perform an unlimited number of transactions per day. Meanwhile, LANDBANK urges its customers to remain vigilant against online banking fraud by not clicking links from unknown senders. Customers are also reminded never to share and keep private their username or log-in ID, password, OTP and other account information.
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LANDBANK OptiSaver high-interest account now available
The Land Bank of the Philippines (LANDBANK) is giving clients a great reason to keep building their savings to reach their financial goals faster and safer. Individual depositors can now get more out of their savings through the LANDBANK OptiSaver—a new premium savings account that offers tiered interest rates as high as 4%* based on average daily balance. The LANDBANK OptiSaver offers to maximize savings with optimal interest rates as one of the financially rewarding deposit products out there – far surpassing the interest rates provided by traditional savings accounts. “With the LANDBANK OptiSaver, your money doesn’t simply rest, it works for you every single day. Whether you are saving for your dream home, a new car, a grand vacation, or a secure retirement, the OptiSaver can be your reliable partner in realizing these aspirations for you and your family,” said LANDBANK President and CEO Lynette V. Ortiz. As a savings account and not a time-bound investment product, the LANDBANK Optisaver has no tenor and allows account holders to withdraw cash at any time, which is especially important for emergencies. “We are inviting everyone to open an OptiSaver account today and maximize the potential of your savings. Let your money work for you and grow your savings faster and safer with LANDBANK,” President Ortiz added. LANDBANK has also made it very convenient for clients to deposit funds to their OptiSaver account digitally or in-person via various touchpoints, to keep them motivated to continue growing their savings and get higher interest rates. Interested depositors may open their LANDBANK OptiSaver account online via the LANDBANK Mobile Banking App (MBA) or by visiting any of the 606 LANDBANK branches and branch-lite units nationwide. For more information about the LANDBANK OptiSaver, please visit the official LANDBANK website and social media channels, contact the nearest LANDBANK Branch nationwide, or call LANDBANK’s customer service hotline at (02) 8-405-7000 or at PLDT Domestic Toll Free 1-800-10-405-7000.
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PCO to use LANDBANK purchase card for faster transactions
PCO Secretary Atty. Cheloy Velicaria-Garafil, MNSA (2nd from left) and LANDBANK Senior Vice President Marilou L. Villafranca (3rd from left) lead the signing of a Memorandum of Agreement for the Government Purchase Card (GPC) Program on 11 October 2023, at the Palacio de Maynila in Malate, Manila. They were joined by PCO Undersecretary Cherbett Karen L. Maralit (leftmost) and LANDBANK First Vice President Cielito H. Lunaria (rightmost). Towards advancing efficient, transparent, and swift government procurement, the Presidential Communications Office (PCO) has partnered with the Land Bank of the Philippines (LANDBANK) for the use of the Government Purchase Card (GPC) to pay for official goods and services. The GPC is similar to a credit card in function, designed to shorten and simplify the requisition process for government agencies and offices, as well as streamline the disbursement of payments to suppliers. PCO Secretary Atty. Cheloy Velicaria-Garafil, MNSA, and LANDBANK Senior Vice President Marilou L. Villafranca led the signing of the Memorandum of Agreement (MOA) on 11 October 2023 at the Palacio de Maynila in Malate, Manila. They were joined by PCO Undersecretary Cherbett Karen L. Maralit and LANDBANK First Vice President Cielito H. Lunaria. “Our overarching goal for the GPC Program is to expedite the delivery of meaningful and responsive public service, helping government agencies like the PCO to eliminate procurement lead time, facilitate digital and quicker payments, and lower administrative costs for purchases,” said LANDBANK President and CEO Lynette V. Ortiz. Under the Agreement, LANDBANK will issue Government Purchase Cards to authorized PCO personnel for the payment of eligible goods and services, such as miscellaneous small-value purchases; travel and representation; hotel and lodging; computer software, services, and digital content; and fuel, automotive parts, and services, among others. The GPC features pre-defined expenditure and credit limit; e-mail alerts for all GPC transactions; availability for online and cashless transactions via Point-of-Sale (POS); and monthly electronic statement of accounts. “This partnership is a step towards embracing digitalization to better serve the Filipino people. We thank LANDBANK for supporting the PCO in our digitalization journey,” said PCO Sec. Atty. Cheloy Velicaria-Garafil, MNSA. The PCO joins other government offices that are currently using the GPC, including the Office of the Vice President (OVP), Department of Finance (DOF), Department of Trade and Industry (DTI), Department of Budget and Management (DBM) and Bureau of the Treasury (BTr), among others. As of end-September 2023, LANDBANK has facilitated through the GPC combined transactions amounting to P19.7 million for various purchases and payments.
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LANDBANK posts highest P31.85-B income in Q3, jumps 24% y-o-y
The Land Bank of the Philippines (LANDBANK) posted a net income of P31.85 billion in the first nine months of the year, which is the highest ever for the Bank since it first breached the P30 billion mark at the end of 2022. The P31.85 billion profit is a significant 24% expansion from P25.7 billion in 2022. It also exceeds the state-run Bank’s target of P26.3 billion for the first three quarters by P5.6 billion, and represents 90.9% of the P35 billion full-year target for 2023. “The unprecedented income was driven by the aggressive expansion of our developmental loan portfolio, coupled with robust yields from loans and investments. We have likewise been prudent and disciplined with managing our expenses to maximize gains. We will ensure that our solid balance sheet continues to translate to substantial and meaningful support to the sectors we serve,” said LANDBANK President and CEO Lynette V. Ortiz. The Bank generated P91.15 billion interest income from loans and investments, 35.9% higher than last year. LANDBANK’s total assets also booked double-digit growth of 11.5% to P3.1 trillion from P2.8 trillion. The increase was propelled by the 12.8% year-on-year expansion of deposits to P2.7 trillion. Meanwhile, the Bank’s capital likewise rose substantially by 21.9% to P249.2 billion from P204.4 billion in 2022, already exceeding the full-year target of P243.8 billion for 2023. LANDBANK’s financial ratios remain at healthy levels, with Capital Adequacy Ratio (CAR) at 16.15% and Common Equity Tier 1 (CET 1) at 15.30%, both well above the minimum requirements of the Bangko Sentral ng Pilipinas (BSP). Return on Equity stood at 15.97%, significantly higher than industry at 13.0% as of June 2023. LANDBANK ranks among the top universal banks in the country, coming in second in assets and deposits, and fourth in loans and capital as of the first semester of 2023.
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LANDBANK remains strong and adequately capitalized
The Land Bank of the Philippines (LANDBANK) remains strong, adequately capitalized, and compliant with regulatory requirements of the Bangko Sentral and Pilipinas (BSP). As of June 2023, the Bank’s total assets reached P3 trillion or 7.9% higher than P2.8 trillion in the same period a year ago, while net income stood at P20.9 billion from loans and investments earnings, exceeding its first-half target by 19% or P3.3 billion. The Bank also booked double-digit capital growth at 14.4% to P236.3 billion from P206.5 billion in 2022. Meanwhile, outstanding loans to agriculture and rural development was at P713.8 billion, representing 69% of its total loan portfolio of P1.04 trillion, almost three times the 25% requirement for local banks to allocate financing for agriculture, fisheries and rural development (AFRD) under Republic Act No. 11901 or “The Agriculture, Fisheries and Rural Development Financing Enhancement Act of 2022.” As of June 2023, LANDBANK’s Capital Adequacy Ratio (CAR) remains at a very healthy level of 16.61%, well above the 10% minimum requirement of the BSP, while our Common Equity Tier 1 (CET 1) ratio stands at 15.73%, also compliant with the 10.25% CET 1 requirement. The BSP tracks the Capital Adequacy Ratio (CAR) and Common Equity Tier 1 (CET 1) ratio of banks to ensure that they are capable of absorbing a reasonable amount of financial risks and still comply with statutory capital levels. Both capital ratios are essential as it indicates a bank’s financial strength and how well it can weather financial challenges. A higher CAR means a bank is more financially stable and secure. Even with the Bank’s P50 billion seed capital to the MIC as mandated by Republic Act No. 11954, otherwise known as the Maharlika Investment Fund Act of 2023, the Bank will meet its CAR requirements.
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LANDBANK installs first-ever ATM in unbanked Polillo Island
Polillo Mayor Angelique E. Bosque (2nd from right) are joined by LANDBANK officials EVP Liduvino S. Geron (3rd from right), SVP Althon C. Ferolino (4th from right), Infanta Branch Head Leonylyn N. Magbuhat (leftmost), and Real Branch Head Elizabeth L. Jalotjot (rightmost) in successfully opening the new LANDBANK offsite ATM in Pollilo, Quezon. POLILLO, Quezon – The Land Bank of the Philippines (LANDBANK) recently inaugurated the very first offsite Automated Teller Machine (ATM) in this municipality towards advancing greater financial inclusion. The new LANDBANK ATM is set to service the cash requirements of government employees and other ATM card holders, including the beneficiaries of the Department of Social Welfare and Development (DSWD), and eliminate the public’s need to travel to the municipality of Real to withdraw cash. The inauguration ceremony was led by Municipal Mayor Angelique E. Bosque alongside LANDBANK officials, including Executive Vice President Ludivino S. Geron, Senior Vice President Althon C. Ferolino, Assistant Vice President Ramil P. Remillano, Real Branch Head Elizabeth L. Jalotjot, and Infanta Branch Head Leonylyn N. Magbuhat on 21 September 2023 at the Polillo Municipal Building. “We continue to expand LANDBANK’s physical network nationwide with a greater focus on servicing underserved and unbanked communities. We have the full support of local partners to install touchpoints and provide accessible and responsive banking services,” said LANDBANK President and CEO Lynette V. Ortiz. As of 30 June 2023, Polillo is listed by the Bangko Sentral ng Pilipinas (BSP) as one of the unbanked municipalities in the Philippines. "We are truly grateful to LANDBANK for making our long-standing dream a reality. This ATM signifies the continues growth of the Municipality of Polillo, and will bring much-needed convenience to our government employees and all ATM cardholders in our town," said Mayor Bosque. The new LANDBANK ATM is also poised to stimulate tourism activities on Polillo Island, guaranteeing visitors access to convenient cash withdrawal services to further enhance the island's appeal as a prime tourist destination. LANDBANK is celebrating its 60th anniversary with a steadfast commitment to provide essential banking services nationwide, extending its reach to the most remote and underserved corners of the country.
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A strong brand of service: LANDBANK named ‘best bank’ for promoting financial inclusion
The Land Bank of the Philippines (LANDBANK) was recognized by Kantar Philippines as one of the 2023 Best Philippine Brands under the “Banking” category for providing convenient, accessible and innovative banking services to unbanked and underserved Filipinos nationwide. Kantar conferred the award to LANDBANK for its strong brand of service, decades of empowering the underserved, and for advancing financial inclusion in the country through the accessibility of its integrated physical and digital banking services. The market research firm also highlighted the Bank’s efficient delivery of cash grants to beneficiaries of the National Government’s social amelioration programs, particularly the digital disbursement of financial assistance under the Conditional Cash Transfer (CCT) Program. “This recognition is a testament to LANDBANK’s unwavering pursuit to reach and serve more Filipinos nationwide. We are continuously working towards the strategic expansion of our physical touchpoints and the enhancement of our digital channels to deliver exceptional and accessible banking service,” said LANDBANK President and CEO Lynette V. Ortiz. In support of the National Government’s financial inclusion drive, LANDBANK has also onboarded 8.35 million Philippine Identification System (PhilSys) registrants for their own transaction accounts, under the Bank’s co-location strategy with the Philippine Statistics Authority (PSA). The partnership aims to bank previously unbanked PhilSys registrants and grant them formal access to basic banking and other financial services. LANDBANK likewise has 1,111 agent banking partners (ABP) nationwide that offer services such as cash out, cash in, fund transfer, bills payment, and opening and issuance of LANDBANK Agent Banking Cards in unbanked and underserved communities. The Bank is also offering individuals who have no capacity to open a regular deposit savings account to open a LANDBANK “Perang Inimpok Savings Option” or PISO account with only P1.00 as minimum initial deposit and up to a maximum of P50,000 account balance. LANDBANK has opened 52,406 PISO accounts for unbanked and underserved Filipinos including students, public utility vehicle drivers, vendors, farmers, and fishers, as of end-August 2023. Kantar BrandZ Philippine Report LANDBANK was recognized for its strong brand image in the Kantar BrandZ Philippine Report, which was based on a comprehensive survey conducted in 2022 covering 44 local brands across four categories – banks, communication providers, general retailers and beverages. Kantar is a global marketing and data analytics company that specializes in analyzing, understanding, and interpreting consumer behavior and trends. The 2023 Philippines Brand Awards is the first edition held by Kantar Philippines in the country to honor the top brands that bring value to the lives of Filipino consumers.
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LANDBANK installs first-ever ATM in remote La Union town
BAGULIN, La Union – The Land Bank of the Philippines (LANDBANK) recently installed the very first automated teller machine (ATM) in this fifth-class municipality to help promote inclusive growth. Located at the Bagulin Municipal Hall in Barangay Suyo, the new LANDBANK offsite ATM will make banking services more accessible, convenient, and safe for government employees, pensioners, beneficiaries of the Department of Social Welfare and Development (DSWD), and other clients from the town’s 10 barangays, who previously needed to travel to the neighboring town of Naguilian to access ATM services. Bagulin Mayor Virgilio C. Flor (3rd from right) and LANDBANK Senior Vice President Ma. Belma T. Turla (4th from right) led the inauguration of the offsite ATM on 12 September 2023. They were joined by Bagulin Vice Mayor Jaime A. Lictao (leftmost), with LANDBANK Bauang Branch Head Elizelda D. Calica (2nd from right) and La Union Lending Center Head Myra Myrtha M. Padolina (rightmost).
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Retail dollar bonds purchase made easier by LANDBANK
The Land Bank of the Philippines (LANDBANK) has made investing in the Bureau of the Treasury’s (BTr) Retail Onshore Dollar Bonds 2 (RDB 2) more accessible and convenient through a menu of available investment channels for investors here and abroad. “We are inviting all our investors, especially those with regular dollar flows or those with existing dollar savings, to diversify across currencies by participating in RDB 2. You are not only securing your financial future, but also contributing to our nation's more prosperous tomorrow,” said LANDBANK President and CEO Lynette V. Ortiz during the RDB 2 launch on 27 September 2023. The RDBs are US dollar-denominated bonds with a coupon rate of 5.75% per annum and a tenor of 5.5 years, maturing on 11 April 2029. The public offer period for RDB 2 will run until 06 October 2023, subject to the discretion of the BTr, with the issue date scheduled on 11 October. The investment instrument allows investors to mobilize and grow their savings while helping fund the National Government’s priority socioeconomic programs and initiatives. The investing public may purchase the RDB 2 with a minimum investment of US$200 and increments of US$100 thereafter using either US dollar or Philippine peso accounts through LANDBANK’s investment channels. For investments made via peso accounts, LANDBANK will facilitate the currency conversions based on the prevailing market rate. Investing in RDB 2 can be completed in as fast as five minutes through the LANDBANK Mobile Banking App (MBA). This feature is also available in the Mobile Banking App of the Overseas Filipino Bank (OFBank)—the official digital bank of the Philippine government and a subsidiary of LANDBANK—making RDB 2 subscription accessible to overseas Filipinos from over 100 countries and territories. Investors of RDB 2 can also make online placements through the BTr Online Ordering Facility and settle the payments via the LANDBANK Link.BizPortal online payment platform. Over-the-counter placements are likewise accepted in all LANDBANK branches nationwide. LANDBANK serves as one of the Joint Lead Issue Managers for the RDB 2 issuance, in line with its collective efforts to promote greater financial inclusion and support the National Government’s development agenda.
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New LANDBANK ATM expands financial inclusion in Ifugao
LANDBANK inaugurates the new ATM in Aguinaldo, Ifugao led by Aguinaldo Mayor Gaspar Chilagan Jr. (4th from right) and LANDBANK Santiago Branch Head AVP Virginia Savilla (3rd from right), which will serve all 16 barangays in the municipality. AGUINALDO, Ifugao – In line with advancing financial inclusivity, the Land Bank of the Philippines (LANDBANK) recently inaugurated its new offsite ATM in the Municipality of Aguinaldo, Ifugao. As the only financial institution servicing the municipality, LANDBANK’s ATM located at the Ubao Barangay Hall will play a vital role in addressing the financial needs of the 16 barangays in Aguinaldo, as well as other neighboring towns. Aguinaldo Mayor Gaspar Chilagan Jr. and LANDBANK Santiago Branch Head AVP Virginia Savilla led the ceremonial event on 05 September 2023, together with other local officials. "We remain steadfast in expanding our touchpoints to provide accessible and responsive financial support and services nationwide, especially in unbanked and underserved areas in the countryside," said LANDBANK President and CEO Lynette V. Ortiz. The new LANDBANK ATM will add to the two point-of-sale (POS) terminals of the Aguinaldo Pomochan Multi-Purpose Cooperative, a LANDBANK Agent Banking Partner (ABP) that provides basic financial transactions on behalf of the Bank. "We extend our heartfelt gratitude to LANDBANK for this invaluable ATM addition, sparing our residents the unnecessary hassles of seeking distant banking facilities. This initiative significantly enhances the accessibility and convenience of banking services within our community," said Mayor Chilagan. The strategic placement of the LANDBANK ATM will also benefit various segments of the community, including municipal government employees, pensioners, teachers, police and military personnel, 4Ps beneficiaries, senior citizens, jeepney operators and drivers, and other recipients of the national government’s social programs. LANDBANK continues to step up the expansion of its touchpoints to help bridge the gap of financial accessibility for residents in remote areas, contributing to economic growth and development in the regions. The state-run Bank is celebrating its 60th anniversary this year, representing six decades of uplifting lives, empowering communities, and serving the nation — all in pursuit of an inclusive and sustainable economy.
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LANDBANK puts up first-ever ATM in Gen. Emilio Aguinaldo, Cavite
General Emilio Aguinaldo Mayor Dennis M. Glean (2nd from left), Vice Mayor Michael B. Manalo (leftmost), and Land Bank of the Philippines (LANDBANK) Tagaytay City Branch Head Eliza M. Castrence (3rd from right) lead the inauguration of the LANDBANK offsite ATM in Brgy. Castanos Cerca near the LGU Municipal Hall on 4 September 2023. Joining them are Sangguniang Bayan Members Ricardo Binauhan and Municipal Councilor Darwin I. Quiacos (4th and 5th from left). The opening of the very first ATM in this 5th class municipality, formerly called as Bailen, allows LANDBANK to service the cash requirements of all 14 barangays of the town, which includes Batas Dao, Kabulusan, Kaypaaba, and Poblacion I. LANDBANK now has a total of 2,961 ATMs nationwide
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