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LANDBANK, DSWD strengthen partnership for vulnerable sectors
LANDBANK President and CEO Cecilia C. Borromeo (8th from right) pays a courtesy visit to DSWD Secretary Erwin T. Tulfo (8th from left) on 22 September 2022, to express the Bank’s continuing commitment to the implementation of the National Government’s social protection programs. Joining them are DSWD Undersecretaries Maria Salome P. Navarro (6th from left), Jerico Francis L. Javier (7th from left), Antonio Cid Crisanto Jr. (2nd from left), and Atty. Adonis P. Sulit (5th from left), LANDBANK Executive Vice Presidents Julio D. Climaco, Jr. (7th from right) and Liduvino S. Geron (6th from right), and other DSWD and LANDBANK senior officials. The Land Bank of the Philippines (LANDBANK) reaffirmed its continued support to the Department of Social Welfare and Development (DSWD) in ensuring the timely, safe and efficient disbursement of cash aid under the social protection programs of the National Government. LANDBANK President and CEO Cecilia C. Borromeo met with DSWD Secretary Erwin T. Tulfo on 22 September 2022, to express the Bank’s full commitment to programs and initiatives implemented for the country’s vulnerable sectors. As the main distribution arm of the government’s social protection programs, LANDBANK facilitates the regular disbursement of financial assistance under the Conditional Cash Transfer (CCT) and Unconditional Cash Transfer (UCT) programs of the DSWD. From January to August 2022, LANDBANK has released a total of P63.3 billion under the CCT program that benefitted 4.4 million low-income families for their children’s education, basic health needs and daily expenses. A total of P11.5 billion was also delivered to 3.2 million UCT beneficiaries, as part of the government’s support interventions under the Tax Reform for Acceleration and Inclusion (TRAIN) Law. Amid the rising prices of fuel and goods, LANDBANK is also working closely with the DSWD in implementing the Targeted Cash Transfer (TCT) Program to support around 12.4 million vulnerable households belonging to the bottom fifty percent (50%) of Filipino households. As of end-August 2022, the Bank has disbursed a total of P8.3 billion in cash assistance to 8.3 million household-beneficiaries under the TCT Program. The state-run Bank also upgraded the beneficiaries’ cash cards into transaction accounts to provide beneficiaries with wider access to an array of banking services, including cash card loading via LANDBANK branches, fund transfers through the LANDBANK Mobile Banking App, and cash-in via LANDBANK Cash Deposit Machines. The LANDBANK Prepaid Cards can also be used to withdraw from LANDBANK Automated Teller Machines (ATMs) and 7-Eleven ATMs free-of-charge, cash-out funds from the Bank’s Agent Banking Partners (ABPs), and make cashless purchases in groceries, pharmacies, convenience stores, and other accepting merchants via Point-of-Sale (POS) terminals.
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LANDBANK pays courtesy call on Cebu CFI co-op
(front row) Land Bank of the Philippines (LANDBANK) President and CEO Cecilia Borromeo (5th from left) paid a courtesy visit to Cebu CFI Community Cooperative (Cebu CFI) Chairman Atty. Winston F. Garcia (6th from left) on 15 September 2022. Joining them are Cebu CFI Board of Directors and other LANDBANK senior officials. CAPITOL SITE, Cebu – Top officials from the Land Bank of the Philippines (LANDBANK) visited the Cebu CFI Community Cooperative (Cebu CFI) to reaffirm the Bank’s continued support to the lending cooperative and its members. LANDBANK President and CEO Cecilia C. Borromeo led the contigent on 15 September 2022, together with National Development Lending Sector Head, Executive Vice President Liduvino Geron, Corporate Banking Group Head, Senior Vice President Celeste Burgos, East Visayas Branches Group Head, Senior Vice President Khurshid Kalabud, and Visayas Lending Group OIC, Vice President Allan Bisnar, among other LANDBANK officials. The state-run Bank is set to grant Cebu CFI a new rediscounting loan line facility—while renewing its existing short-term loan line—to strengthen the cooperatives’ relending services for housing and livelihood projects. Cebu CFI serves over 154,700 members nationwide composed mostly of local government employees, teachers, and private employees, with exisiting branches and sattelite offices in Luzon, Visayas, and Mindanao.
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LANDBANK President pays courtesy visit to Mandaue City Mayor
Land Bank of the Philippines (LANDBANK) President and CEO Cecilia C. Borromeo (4th from left) met with Mandaue City Mayor Jonas Cortes (5th from left) on 15 September 2022, together with a contingent of LANDBANK officials. MANDAUE CITY, Cebu – Land Bank of the Philippines (LANDBANK) President and CEO Cecilia C. Borromeo paid a courtesy visit to Mandaue City Mayor Jonas Cortes on 15 September 2022, in support of the City’s continued progress and growth. The two principals discussed potential areas of collaboration to undertake meaningful development projects, including the proposed construction of the Mandaue City Government Center, envisioned to be a centralized hub for accessible public services. President Borromeo was joined by LANDBANK National Development Lending Sector Head, Executive Vice President Liduvino Geron, Corporate Banking Group Head, Senior Vice President Celeste Burgos, East Visayas Branches Group Head, Senior Vice President Khurshid Kalabud, and Visayas Lending Group OIC, Vice President Allan Bisnar, among other LANDBANK officials. Apart from the LANDBANK Mandaue Branch and Mandaue City Hall Branch, there are 23 LANDBANK ATMs and two (2) Agent Banking Partners in Mandaue City to service banking needs. These are complemented by the LANDBANK Cebu Lending Center in the Municipality of Consolacion to finance development initiatives.
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LANDBANK supports Cebu LGU’s livelihood program for farmers, fishers
Land Bank of the Philippines (LANDBANK) President and CEO Cecilia C. Borromeo (5th from left) paid a courtesy visit to Cebu Governor Gwendolyn F. Garcia (4th from left) on 15 September 2022. Joining them are LANDBANK Executive Vice President Liduvino S. Geron (3rd from left), Corporate Banking Group Head and Senior Vice President Ma. Celeste A. Burgos (6th from left), and other LANDBANK senior officials. CAPITOL SITE, Cebu – The Land Bank of the Philippines (LANDBANK) strengthened its ties with the Provincial Government of Cebu during a courtesy visit on 15 September 2022, as the Bank expressed its continued support for the Province’s Enhanced Countryside Development (ECD) Program for farmers and fisherfolk. LANDBANK President and CEO Cecilia C. Borromeo met with Cebu Governor Gwendolyn F. Garcia, together with LANDBANK Executive Vice President Liduvino S. Geron, Corporate Banking Group Head, Senior Vice President Celeste Burgos, East Visayas Branches Group Head, Senior Vice President Khurshid Kalabud, and Visayas Lending Group OIC, Vice President Allan Bisnar, among other LANDBANK officials. The Bank has an ongoing partnership with the Provincial Government under the ECD Program to finance the agricultural production of local farmers and fisherfolk, especially those who are residing in underdeveloped areas in Cebu. The Program also offers capital to expand or restart existing businesses affected by the Covid-19 pandemic, among others. Since the initial roll-out of the ECD Program in March 2021, LANDBANK has approved loans for 767 farmers and fisherfolk engaged in the production of swine, high-value crops, and fisheries in the whole Province of Cebu.
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LANDBANK donates P1.5-M to earthquake-hit LGUs
LANDBANK North Luzon Branches Group Head, Senior Vice President Ma. Belma T. Turla (left) and Bangued Branch Manager Gina V. Gabbuat (right) turnover a cash donation to Abra Provincial Governor Dominic B. Valera (middle) to support the recovery of local communities hit by the recent 7.0 magnitude earthquake. The Land Bank of the Philippines (LANDBANK) donated a total of P1.5 million-worth of financial aid to local government units (LGU) in Northern Luzon, in support of recovery efforts in the aftermath of the 7.0 earthquake that hit the region last July. The Bank extended donations of P200,000 for affected provinces and P100,000 each for municipalities. LGUs that received financial assistance include the Municipalities of Bangued, Bucay, Dolores, Lagangilang, Luba, Manabo, Peñarrubia, Pilar, Tayum, and Villaviciosa in Abra; Pasil in Kalinga; and the Provincial Governments of Abra and Ilocos Sur. “As the biggest development partner of the LGU sector, LANDBANK is fully committed to service the recovery and growth requirements of our partner LGUs,” said LANDBANK President and CEO Borromeo. According to the Philippine National Disaster Risk Reduction and Management Center (NDRRMC), the 7.0 magnitude earthquake affected more than 21,000 residents, mostly from the Province of Abra and its adjacent towns. Apart from the financial aid, the Bank continues to ensure the availability and accessibility of cash in the earthquake-hit areas. A LANDBANK Mobile ATM was immediately deployed to the Municipality of Bangued on 29 July 2022 and provided service to the community until 3 August 2022.
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LANDBANK supports moratorium on ARB payments
President Ferdinand R. Marcos Jr. (center), Senator Maria Imelda “Imee” R. Marcos (2nd from right), and Department of Agrarian Reform Secretary Conrado Estrella III (rightmost), are joined by LANDBANK President and CEO Cecilia C. Borromeo (4th from right) and Executive Vice President Alex A. Lorayes (leftmost) during the signing of the executive order imposing a one-year moratorium on payments for land amortization and interests of agrarian reform beneficiaries (ARBs) at Malacañang Palace, Manila on 13 September 2022. State-run Land Bank of the Philippines (LANDBANK) welcomes the imposition of a year-long moratorium on land amortization and interest payments of agrarian reform beneficiaries (ARBs) for agricultural lands distributed under the Comprehensive Agrarian Reform Program (CARP), meant to provide financial relief to over 650,000 ARBs whose income were adversely affected by the on-going health pandemic. President Ferdinand R. Marcos Jr. signed on 13 September 2022 an Executive Order to freeze CARP payments for a year, thereby allowing ARBs to save and utilize funds for farm development and improved productivity. “LANDBANK fully supports this landmark initiative to advance the interest and welfare of agrarian reform beneficiaries. Rest assured that we will continue to complement the National Government’s development agenda for ARBs and strategic land reforms,” said LANDBANK President and CEO Cecilia C. Borromeo. LANDBANK serves as the collection agent of the National Government for land amortizations from ARBs, pursuant to its mandate as the financial intermediary of CARP. All collections are remitted by the Bank to the Bureau of the Treasury (BTr) as part of the revenue of the National Government. The Bank is also responsible for determining the land valuation and compensation for all lands covered under CARP. It likewise facilitates land transfer payment, and handles Agrarian Reform (AR) bond servicing transactions such as bond transfer, conversion, exchange and replacement, among others. Meanwhile, LANDBANK continues to offer financial assistance to ARBs and their organizations, or the Agrarian Reform Beneficiary Organizations (ARBOs), through the Credit Assistance Program for Program Beneficiaries Development (CAP-PBD) for crop production, agri-enterprise or livelihood, and other agri-related projects. The program is being implemented in partnership with the Department of Agrarian Reform (DAR) to provide capacity building and enterprise development support or interventions to ARBs and ARBOs, aimed at strengthening and improving their organizations’ operations and productivity. LANDBANK and DAR also offer the Expanded Assistance to Restore and Install Sustainable Enterprises for Agrarian Reform Beneficiaries and Small Farm Holders (E-ARISE-ARBs) which provides a contingent credit facility to ARBOs and its members who were adversely affected by natural calamities or disasters, pest and diseases, and other viral infections or outbreaks. LANDBANK’s combined releases under CAP-PBD and E-ARISE-ARBs have reached P720.2 million as of 30 June 2022, benefitting more than 200 ARBOs with more than 11,000 ARBs and small farm holder-members nationwide. In partnership with DAR, LANDBANK is also addressing the credit needs of individual ARBs who are not members of an ARBO through the Accessible Funds for Delivery to ARBs (AFFORD ARBs) Lending Program. The Bank has extended loan assistance amounting to P468.6 million to more than 1,700 borrowers under the Program as of end-June 2022.
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LANDBANK installs new ATM to serve Marawi teachers
(left photo) City Schools Division of Marawi (CSDM) OIC - Schools Division Superintendent Anna Zenaida U. Alonto (leftmost) and LANDBANK Marawi Branch Head Noraida M. Dindang (4th from left) lead the ribbon-cutting of the new LANDBANK ATM at the Amai Pakpak Central Elementary School (APCES) Compound in Brgy. Buadi Sacayo, Marawi City. They are joined by Regional State Prosecutor Atty. Rohaira A. Lao (2nd from left), Ministry of Basic, Higher and Technical Education Regional Consultant Soraida Nor (center) and LANDBANK Maigo (Lanao del Norte) Branch Head Raisha L. Marohombsar (rightmost). MARAWI CITY, Lanao del Sur – Teachers and residents will no longer need to wait in long queues and travel to other towns for their cash requirements, with the installation of a new Land Bank of the Philippines (LANDBANK) ATM at the Amai Pakpak Central Elementary School (APCES) Compound in Barangay Buadi Sacayo. In partnership with the Department of Education (DepEd) - City Schools Division of Marawi (CSDM), the initiative aims to primarily serve around 1,500 teachers and school personnel who maintain payroll accounts with LANDBANK. With its strategic location, the LANDBANK ATM is also accessible to other educational institutions in the area, including the Marawi City National High School and the Mindanao State University (MSU) – University Training Center. The LANDBANK ATM is likewise available to serve the cash requirements of the Bank’s customers in the four (4) nearby barangays of Bangon, Barrio Fort, Datu Saber and Poblacion. Around 3,500 beneficiaries of the Conditional and Unconditional Cash Transfer (CCT/UCT) Programs of the Department of Social Welfare and Development (DSWD) will also benefit from the accessible LANDBANK ATM. “LANDBANK’s physical presence in strategic areas remains an essential part of our financial inclusion thrust. We are focused on reaching and serving our varied customers nationwide, especially those in remote and underserved areas,” said LANDBANK President and CEO Cecilia C. Borromeo. CSDM OIC-Schools Division Superintendent Anna Zenaida U. Alonto and LANDBANK Marawi Branch Head Noraida M. Dindang led the inauguration of the LANDBANK ATM on 31 August 2022. They were joined by Regional State Prosecutor Atty. Rohaira A. Lao, Ministry of Basic, Higher and Technical Education (MBHTE) Regional Consultant Soraida Nor, and LANDBANK Maigo (Lanao del Norte) Branch Head Raisha L. Marohombsar. Aside from payroll services, LANDBANK also extends electronic salary loan services to CSDM for the financing needs of its teaching and non-teaching staff through the LANDBANK Marawi and Cotabato Branches. The newly-installed LANDBANK ATM in the APCES Compound brings the Bank’s total number of ATMs in Lanao del Sur to 16, complementing two (2) Branches and two (2) Cash Deposit Machines (CDMs) in the province, as of 31 August 2022. LANDBANK is the only bank present in all provinces of the country, composed of of 608 Branches; 2,875 ATMs; and 232 CDMs.
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LANDBANK, Taguig City LGU sign P1.4-B credit facility for infra projects
Taguig City Mayor Hon. Maria Laarni L. Cayetano (3rd from right) and LANDBANK President and CEO Cecilia C. Borromeo (4th from right) lead the signing of a P1.4 billion credit agreement for the City’s infrastructure projects on 6 September 2022 at the Mayor’s Office in Taguig City. They are joined by Taguig City Administrator Atty. Jose Luis G. Montales (2nd from right), City Treasurer Atty. J. Voltaire I. Enriquez (rightmost), LANDBANK National Development Lending Sector Head, Executive Vice President Liduvino S. Geron (5th from right), and LANDBANK Corporate Banking Group Head, Senior Vice President Ma. Celeste A. Burgos (leftmost). BGC, Taguig City – The Land Bank of the Philippines (LANDBANK) and the City Government of Taguig signed a credit agreement worth P1.4 billion to finance the City’s infrastructure and development projects that will cater to the educational, medical, and recreational needs of Taguigeños. Taguig City Mayor Maria Laarni L. Cayetano and LANDBANK President and CEO Cecilia C. Borromeo led the signing on 6 September 2022 at the Mayor’s Office in Taguig City. They were joined by Taguig City Administrator Atty. Jose Luis G. Montales and City Treasurer Atty. J. Voltaire I. Enriquez, along with LANDBANK National Development Lending Sector Head, Executive Vice President Liduvino S. Geron, Corporate Banking Group Head, Senior Vice President Ma. Celeste A. Burgos, and Public Sector Department Head, Assistant Vice President Melissa V.A. Abundo. “LANDBANK will continue to find opportunities to serve the nation with the City Government of Taguig, in line with our mutual goal of advancing inclusive economic growth towards building a stronger and more resilient local economy,” said LANDBANK President and CEO Borromeo. Under the agreement, LANDBANK will finance the construction and completion of the new Taguig City Hall, including its proposed community and recreational centers, and theater. The credit facility will also cover the construction and completion of the City’s General Hospital and University Complex buildings, to provide more accessible health care and educational services for its constituents, respectively. “Hopefully, this partnership will prosper through LANDBANK’s kind assistance and support. We recognize LANDBANK as one of our closest partners in development and we appreciate your assistance in pushing the City of Taguig to be even more successful than it is today,” said Taguig City Mayor Cayetano. The P1.4 billion LANDBANK credit facility is part of the P7.7 billion Omnibus Term Loan Facility (OTLF) approved by the Bank for the Taguig City LGU. LANDBANK approved the first drawdown from the OTLF amounting to P1.4 billion under the Restoration and Invigoration Package for a Self-sufficient Economy towards Upgrowth for LGUs (RISE-UP LGUs) Lending Program, to fast-track the City’s recovery from the challenges of the COVID-19 pandemic. LANDBANK also serves the City of Taguig through the disbursement of funds for the beneficiaries of the Conditional and Unconditional Cash Transfer (CCT/UCT) Programs of the Department of Social Welfare and Development (DSWD). The CCT and UCT beneficiaries can use their LANDBANK Prepaid Cards for cash withdrawals from the Bank’s nine (9) branches, 59 ATMs, and 7-Eleven ATMs located throughout the City. The state-run Bank also provides payroll and salary loan services for the City’s employees, as well as digital management of Taguig City’s institutional account via the LANDBANK weAccess—the Bank’s internet banking facility for corporate clients and government agencies.
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LANDBANK AgriSenso highlights innovation as key to boost livestock industry
(clockwise from upper left) National Federation of Hog Farmers, Inc. (NFHFI) Chairman Chester Warren Y. Tan; RDF Feed, Livestock & Foods, Inc. (RDF) Founder and CEO Dr. Robert H. Lo; Bureau of Animal Industry – Livestock Research and Development Division (BAI-LRDD) Research and Management Section Head Maria Laarni P. Cerna; and LANDBANK Program Management Department I, Assistant Vice President Edgardo S. Luzano lead the second run of the LANDBANK AgriSenso Virtual Forum, which puts the spotlight on the latest challenges, trends and opportunities in the local livestock industry. The Land Bank of the Philippines (LANDBANK) gathered key agriculture players who underscored the importance of adopting science-based approaches and latest technologies to address the challenges facing livestock raisers and achieve self-sufficiency in meat and dairy production. The second run of the LANDBANK AgriSenso Virtual Forum on 30 August 2022 put the spotlight on the livestock industry and featured National Federation of Hog Farmers, Inc. (NFHFI) Chairman Chester Warren Y. Tan; RDF Feed, Livestock & Foods, Inc. (RDF) Founder and CEO Dr. Robert H. Lo; Bureau of Animal Industry – Livestock Research and Development Division (BAI-LRDD) Research and Management Section Head Maria Laarni P. Cerna; and LANDBANK Program Management Department I Assistant Vice President Edgardo S. Luzano. NFHFI Chairman Tan said that the livestock industry remains resilient despite various challenges caused by climate change, high production costs, global animal diseases, and market slowdown. Many pig farmers, for instance, have already succeeded in their re-population efforts amid threats from the African Swine Fever (ASF) by adopting strict and globally-accepted biosecurity standards, he shared. “The challenge is to educate, teach, and get all farmers to commit and accept the new normal of swine farming. We must learn to live with the virus and protect our farms by strengthening our biosecurity and facilities,” Chairman Tan said. RDF Founder and CEO Dr. Lo likewise believes that embracing innovation is key to overcoming present challenges besetting the livestock industry. He shared innovative approaches that the RDF adopted to manage the impact of ASF and climate change, among others. “The best time to re-populate is now because of the insufficient supply in the market. And if we re-populate, we need to do it right by applying a science-based approach to increase production. With bigger farms and good biosecurity, we can achieve this,” said Dr. Lo. Meanwhile, BAI-LRDD Research and Management Section Head Cerna discussed the country’s roadmap for the livestock industry, and shared the budgetary requirements to implement all the programs and projects included in the plan. LANDBANK Lending Programs LANDBANK Assistant Vice President Luzano discussed available credit programs for hog raisers, as well as stakeholders engaged in dairy production, processing, marketing, and other dairy-based economic activities. Designed in support of National Government efforts to re-populate and increase local hog production, LANDBANK is offering the SWINE (Special Window and Interim Support to Nurture Hog Enterprises) Lending Program to commercial hog raisers registered as cooperatives or farmers’ associations, small and medium enterprises (SMEs), and large enterprises or corporations. As of 31 July 2022, LANDBANK has approved loans totaling P3.2 billion to 25 borrowers under the SWINE Lending Program, with outstanding loans amounting to P1.8 billion. To boost the local dairy industry, LANDBANK also provides credit assistance under the MILK (Masustansiyang Inumin para sa Likas na Kalusugan) Program for qualified cooperatives or associations, federations, countryside financial institutions (CFIs), SMEs, and agri-business entities. A total of P183 million in loans have been approved to seven borrowers under the LANDBANK MILK Program as of end-July 2022, with outstanding loans of P89.4 million. The AgriSenso Virtual Forums form part of LANDBANK’s intensified support to the agriculture sector and addresses the request of customers to learn more about available credit facilities. Each session focuses on a specific agriculture industry or topic, with industry experts and players invited to share insights, best practices, and opportunities for growth. The next run of the LANDBANK AgriSenso Virtual Forum will be held on 12 September 2022 to discuss the legislated programs for individual farmers jointly implemented by LANDBANK and the Department of Agriculture (DA).
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DOTr, LANDBANK roll out automated fare system
The Department of Transportation (DOTr) and the Land Bank of the Philippines (LANDBANK) rolled out today the interim operation of the EMV-compliant Automated Fare Collection System (AFCS), geared towards the enhancement and modernization of the urban public transportation system in the country. The AFCS, which allows the convenient use of EMV-compliant contactless credit, debit and prepaid bank cards as cashless payment instruments in public transport modes, will be tested under a real-time operational condition in preparation for its full and commercial implementation. Transportation Undersecretary Cesar B. Chavez, Land Transportation Franchising and Regulatory Board Chairperson Cheloy E. Velicaria-Garafil, Bangko Sentral ng Pilipinas Governor Felipe M. Medalla, and LANDBANK President and CEO Cecilia C. Borromeo, together with participating public transport operators, led the “Interim Operation Launch and Tripartite Memorandum of Agreement Ceremonial Signing” for the Automated Fare Collection System EMV Contactless Pilot Production Testing (AFCS EMV PPT) Project at the Parañaque Integrated Terminal Exchange (PITx) in Parañaque City on 01 September 2022. “LANDBANK fully supports the AFCS project for convenient and safe cashless payments in our PUVs. Through LANDBANK Contactless Cards, we look forward to making the daily journey and payment experience of commuters as seamless as possible,” said President and CEO Borromeo. A total of 150 Public Utility Vehicle (PUV) units in selected pilot sites in the National Capital Region, Central Luzon, Calabarzon, and Metro Cebu will participate in the AFCS PPT. Only LANDBANK prepaid and credit contactless cards will be accepted and processed in the 150 participating PUVs during the first month of the AFCS pilot testing period. Once the necessary regulations or policy has been issued, the LANDBANK AFCS solution can also accept and process the EMV contactless cards issued by other local banks. Commuters can pay for fares using LANDBANK’s Special Edition Transit Cards, Agent Banking Cards (ABC), General Purpose Reloadable (GPR) Cards, Provincial ID e-Cards, and Classic and Gold Credit Cards, among others. LANDBANK already distributed more than 4.5 million LANDBANK contactless EMV cards which can be used in the AFCS solution, with another 1.9 million cards available and ready for claiming by the account owners. Through the years, LANDBANK has grown into one of the leading universal banks in the country while remaining faithful to its social mandate to promote inclusive and sustainable development. LANDBANK supports the modernization of the country’s transportation systems and services as a significant driver toward accelerated economic recovery and inclusive growth.
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LANDBANK loans for high-value crops reach P17.4-B
The Land Bank of the Philippines (LANDBANK) has approved P17.4 billion in loans to 1,220 borrowers nationwide for the production of high-value crops, in line with ensuring food security for the country. The loans will finance the production of highland and lowland vegetables, fruits, as well as industrial crops including abaca and bamboo. Spices, legumes, and alternative food staple crops such as soybean and root crops are also covered for financing under the LANDBANK Sulong Saka Lending Program. “LANDBANK aims to promote the diversification of crop yields of our local farmers alongside ensuring food security. We will continue to support the production of high-value crops in the country through accessible and responsive credit assistance,” said LANDBANK President and CEO Cecilia C. Borromeo. Aside from increased high-value crop production, farmers can avail of loans under the Program to finance related projects such as the establishment of nursery, and budwood or mother and plant or parent clone gardens, as well as for the establishment of new plantations, and the replanting, rejuvenation and rehabilitation of old trees. Financial support under the LANDBANK Sulong Saka Program extends up to post-harvest crop activities such as fermentation and drying, including the processing and manufacturing of crops, like roasting, grinding/milling, packaging, and storing. Trading and export activities may also be financed under the Program. Individual small farm holders may borrow up to 90% for a production loan, while a maximum of 80% may be borrowed by small and medium enterprises (SMEs), cooperatives, farmers associations and organizations, large agribusiness enterprises and corporations, non-government organizations (NGOs) and countryside financial institutions (CFIs). The LANDBANK Sulong Saka Program can also finance up to 80% and 85% of the total project cost for the acquisition of fixed assets and commodity loans, respectively. Local government units (LGUs) may likewise avail of financial support under the Program, provided that the loan amount will not exceed their net borrowing capacity, as certified by the Bureau of Local Government Finance (BLGF). Term loans for working capital and permanent working capital are payable up to one (1) year and three (3) years, respectively, while loans for fixed assets and construction of facilities are payable based on cash flow but not more than its economic useful life. An interest rate of 5% per year shall apply. Through the years, LANDBANK has grown into one of the leading universal banks in the country, while remaining faithful to its social mandate to promote inclusive and sustainable development. On 8 August 2022, the state-run Bank celebrated its 59th anniversary, representing almost six decades of service to the nation.
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LANDBANK bags two awards from Bataan LGUs
LANDBANK Balanga Branch Head Nenita C. Lopez (3rd from right) receives the “Top Performing Bank - Hall of Fame” award from Bataan Governor Jose Enrique S. Garcia III (4th from right) and (R-L) Second District Rep. Albert Raymond S. Garcia, Balanga City Mayor Francis Anthony S. Garcia, Vice Governor Ma. Cristina M. Garcia, and Sangguniang Bayan Member Jowee Nisay-Zabala. BALANGA CITY, Bataan – The Land Bank of the Philippines (LANDBANK) was honored twice by the provincial government of Bataan and the city government of Balanga for its valuable contribution to advancing local recovery and development amid the COVID-19 pandemic. The LANDBANK Balanga Branch ranked among the “Top 25 Highest Business Gross Sales for 2021” and for supporting economic resurgence in Balanga, while also bagging the “Top Performing Bank” award for the third straight year—earning it the prestigious distinction as a “Hall of Fame” awardee. LANDBANK Balanga Branch Head Nenita C. Lopez received the recognitions during the 2022 Galing! Bataan Awards Night and 3rd Invest Balanga Awards Night, anchored on the theme, "Husay at Tatag ng Bataeño, Susi sa Maunlad na Pagnenegosyo” on 29 July 2022 at the Vista Mall-Bataan. “LANDBANK remains at the frontlines in delivering accessible and unhampered banking and financial services to local communities, especially in response to the COVID-19 pandemic. Together with our LGU partners, this forms part of our expanded mandate in serving the nation,” said LANDBANK President and CEO Cecilia C. Borromeo. The awarding event was jointly organized by the City Economic and Investment Development Office (CEIDO) of Balanga and the Provincial Cooperative Enterprise and Development Office (PCEDO) that aims to celebrate the collaboration among local business communities. Through the years, LANDBANK has grown into one of the leading universal banks in the country, while remaining faithful to its social mandate to promote inclusive and sustainable development. On 8 August 2022, the Bank celebrated its 59th anniversary, representing almost six decades of service to the nation.
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