To continue helping clients cope with the impact of the COVID-19 pandemic, the Land Bank of the Philippines (LANDBANK) is granting a two-month grace period on loan and credit card payments. LANDBANK is providing a one-time 60-day moratorium for all existing, current, and outstanding loans falling due from September 15 until December 31, 2020, without incurring interest on interests, penalties, fees, or other charges. This is in support of the implementation of Republic Act No. 11494 or the “Bayanihan to Recover as One (BARO) Act.” Credit card transactions made, including fees or charges incurred, prior to September 15 shall also be covered by the moratorium. For credit card payments, any unpaid balance from transactions and fees or charges shall not incur interest or finance charges during the mandatory grace period. However, after the end of the applicable grace period, the said unpaid balance shall incur interest or finance charges if not paid in full on new due date. “LANDBANK understands how providing loan relief can significantly support our clients during these difficult times. We look to ease their financial concerns as we continue navigating the challenges of this pandemic,” said LANDBANK President and CEO Cecilia C. Borromeo. LANDBANK will apply the 60-day grace period automatically, without the need for borrowers and credit card holders to apply or request for the relief measure. However, for LANDBANK credit cardholders with Automatic Debit Arrangements (ADA) for payments, they must inform the Bank that they would like to avail of the relief. The grace period shall commence from the payment due date of loans, with principal and/or interest, including amortizations, falling due from September 15 until December 31, 2020. Meanwhile, credit card transactions made on and after 15 September are no longer covered by the BARO Act and shall continue to incur interest or finance charges if not fully paid on or before its original due date. LANDBANK previously granted a similar grace period for loan payments falling due from March 18 to June 30, 2020, in support of Republic Act No. 11469 or the “Bayanihan to Heal as One Act.” Loan accounts that benefitted from this grace period will also benefit from the BARO Act if it remains an existing, current, and outstanding loan as of September 15, 2020. Meanwhile, fund transfer fees are still waived for InstaPay and PESONet transactions until December 31, 2020. For more information on LANDBANK’s 60-day grace period for loan and credit card payments, please visit the LANDBANK website at www.landbank.com/faqs.
READ MOREState-run Land Bank of the Philippines (LANDBANK) is set to issue its first-ever Sustainability Bonds offer to fund environmental and social projects. LANDBANK is looking to tap and access the capital markets to raise at least P3 Billion from the peso-denominated fixed-rate bond offering with a two-year tenor. Due in 2024, the bonds will be issued in minimum denominations of P50,000 and in multiples of P10,000 thereafter. Interest rate is expected to be set on October 23 while offer period is scheduled from October 26 to November 6, 2020. Listing at the Philippine Dealing and Exchange Corporation (PDEx) is set on November 17. Standard Chartered Bank (SCB) will be the sole lead arranger and bookrunner, while both LANDBANK and SCB will be selling agents. “With the pandemic posing both as a pressing challenge and opportunity, it strengthens LANDBANK’s commitment all the more, with a sharpened focus in supporting sectors and activities for sustainable recovery,” said LANDBANK President and CEO Cecilia C. Borromeo in her speech during the Sustainability Bonds virtual investors' briefing held on October 21. LANDBANK will utilize the proceeds from the issuance to finance various loan programs that support sustainable projects such as green and social projects, as identified in LANDBANK’s Sustainable Finance Framework—the Bank’s blueprint for developing sustainable financing instruments. Green Projects include those that contribute to environmental objectives such as climate change mitigation and adaptation, natural resource and biodiversity conservation, and pollution prevention and control, among others. Social Projects are ventures help address a social concern and seen to impact on people's lives. These include projects for basic infrastructure, food security, essential services, affordable housing, employment generation, and food security. LANDBANK’s Sustainable Finance Framework is aligned with sustainable finance principles enumerated in the Sustainability Bond Guidelines 2018 by the International Capital Market Association and the ASEAN Sustainability Bond Standards 2018 by the ASEAN Capital Markets Forum, among others.
READ MOREIn line with its special focus to serve the needs of the country’s agriculture sector, the Land Bank of the Philippines (LANDBANK) reported that it has assisted over two million small farmers and fishers (SFFs) nationwide. As of end-September 2020, LANDBANK already assisted a total of 2,396,259 SFFs, exceeding its full-year target of two million, and more than double the 1,032,982 cumulative number of SFFs supported in 2019. About 1,630,602—accounting for 68% of the total—were provided assistance through the Bank’s regular loan offerings and lending programs jointly implemented with the Department of Agriculture (DA) and the Department of Agrarian Reform (DAR). Also included were the 716,897 small farmers assisted through the Rice Farmers Financial Assistance (RFFA) and Financial Subsidy to Rice Farmers (FSRF) Programs of the DA. The remaining 48,760 farmers were supported through the Financial Literacy Training Program of the LANDBANK Countryside Development Foundation, Inc. (LCDFI) conducted in unbanked municipalities nationwide. “Three months before the end of 2020, LANDBANK already surpassed its yearend target of assisting two million small farmers and fishers nationwide. This accomplishment attests to our continuing commitment that LANDBANK, together with the Department of Agriculture and the Department of Agrarian Reform, remains steadfast in its support to the agriculture sector,” said LANDBANK President and CEO Cecilia C. Borromeo. This is further illustrated by the continued expansion of LANDBANK’s outstanding loans to the agriculture sector, which grew by P5.68 billion from P224.66 billion in August to P230.34 billion in September 2020. Of the P230.34 billion-worth of agricultural loans, P34.97 billion were lent to small farmers and fishers, and cooperatives and farmers associations, rural financial institutions and other conduits, while P195.36 billion were provided to other players in the agribusiness value chain LANDBANK expects to further expand its agricultural loan portfolio to P245 billion by the end of the year. For more updates, please Follow, Like and Share the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), or visit the LANDBANK website (www.landbank.com).
READ MOREState-run Land Bank of the Philippines (LANDBANK) today announced it has set the interest rate of 2.5872% for its first-ever Sustainability Bonds offer to fund environmental and social projects. During the Sustainability Bonds virtual investors' briefing held last October 21, the offer period was initially scheduled from October 26 to November 6, 2020. However, due to the very strong demand and oversubscription, LANDBANK said it is now closing the offer period on Monday, October 26, 2020. LANDBANK is looking to tap and access the capital markets to raise at least P3 Billion from the peso-denominated fixed-rate bond offering with a two-year tenor. Due in 2022, the bonds will be issued in minimum denominations of P50,000 and in multiples of P10,000 thereafter. Standard Chartered Bank (SCB) is the sole lead arranger and bookrunner, while both LANDBANK and SCB will be selling agents. LANDBANK will utilize the proceeds from the issuance to finance various loan programs that support sustainable projects such as green and social projects. Green Projects include those that contribute to environmental objectives such as climate change mitigation and adaptation, natural resource and biodiversity conservation, and pollution prevention and control, among others. Social Projects are ventures help address a social concern and seen to impact on people's lives. These include projects for basic infrastructure, food security, essential services, affordable housing, employment generation, and food security.
READ MORELand Craft Transport (LCT) sea vessel “Isla de Pitogo,” which was acquired by the Municipality of President Carlos P. Garcia through a term loan from the Land Bank of the Philippines (LANDBANK), now efficiently connects the island-municipality to mainland Bohol, improving mobility and movement of commodities to and from the locality. PRESIDENT CARLOS P. GARCIA, Bohol – Before becoming an emerging municipality, Boholanos often describe this island town as a gloomy ghost town with houses lit only by makeshift gas lamps, and fishers sailing the dark sea as the only traces of human activity at night. As the only town separated from mainland Bohol, commerce in the municipality was not feasible. Residents relied only on artisanal fishing, farming and mat weaving for daily subsistence. The movement of people and commodities to and from the locality used to be risky, challenging and expensive as the only available means of sea transportation was through small outrigger pump boats. When the proposal of connecting the municipality to the mainland through a bridge proved to be impractical and too costly, the municipal government opted to acquire a Landing Craft Transport sea vessel to serve as a moving bridge. With a P55-million term loan from Land Bank of the Philippines (LANDBANK) in 2018, the municipality acquired Isla de Pitogo which can accommodate up to nine big passenger buses. On February 4, 2019, the vessel began commercial operations, and provided passengers with a safe, comfortable and affordable transportation. It also opened up the municipality to commerce and tourism, as consumer items and other goods started to pour in, including construction materials for the town’s infrastructure projects. “The landing craft sea vessel was a game changer. It became our first step to development. The vessel connected us to the rest of Bohol, and helped open up our municipality to progress and development,” said Municipal Mayor Fernando B. Estavilla. Local fishers and farmers of rice, corn, coconuts, root crops, fruits and vegetables also benefitted with the inter-island vessel in transporting their catch and produce to as far as Tagbilaran City. The operations of sea vessel also provided jobs to at least 35 residents who man the port in Barangay Popoo, and onboard the vessel. Establishments catering to the growing trade and commerce in the area also generated additional employment. One of LANDBANK’s main objectives is to support Local Government Units (LGUs) nationwide. As of September 30, 2020, LANDBANK has extended loans to LGUs amounting to P51.38 billion. A significant portion of this, or P17.25 billion, represents loans used to finance the agri-aqua projects of LGUs, including farm-to-market roads, slaughter house, and irrigation. Just recently, LANDBANK launched the RISE UP LGUs (Restoration and Invigoration package for a Self-sufficient Economy towards UPgrowth for LGUs) Lending Program to help LGUs recover post COVID-19. With a program fund allocation of P20 billion, the Bank targets to finance the recovery and rehabilitation projects of provincial, city and municipal LGUs toward stronger and more resilient communities. For more information about LANDBANK’s Lending Programs, interested borrowers may contact the nearest open LANDBANK Lending Center or 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.
READ MORELand Bank of the Philippines (LANDBANK) bagged two awards for its outstanding development projects on climate financing and digital account opening at the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) Development Awards 2020. The Green Climate Fund (GCF) Program of the state-owned bank was adjudged as the winner under the Environmental Development category, while its Digital Onboarding System (DOBS) was bestowed with a Merit Award under the Technology Development category. The awards were presented to LANDBANK during the 43rd ADFIAP Virtual Annual Meeting held on October 28-29, 2020. “We at LANDBANK always strive to go the extra mile in fulfilling our mission of delivering timely and responsive financial support services to our clients, while promoting sustainable development and environmental protection. This recognition inspires us to constantly do more and work harder,” said LANDBANK President and CEO Cecilia C. Borromeo. The Bank’s GCF Program is an operating entity of the financial mechanism of the United Nations Framework Convention on Climate Change (UNFCCC) and Paris Agreement, dedicated to supporting global efforts to respond to the challenge of climate change. The program aims to help developing countries limit or reduce greenhouse gas (GHG) emissions and adapt to climate change by supporting programs and projects that promote a paradigm shift to low-emission and climate-resilient development. LANDBANK is the first and only Direct Access Entity (DAE) to the GCF in the country, and one of 76 worldwide. As a DAE, LANDBANK has the mandate to oversee, manage, monitor, and channel financing to GCF-approved projects within the Philippines’ priority projects. In November 2019, LANDBANK successfully worked for the approval of the country’s first GCF project, the Multi-Hazard Impact-Based Forecasting and Early Warning System. The project aims to reduce the exposure of vulnerable communities to climate-induced hydrometeorological hazards, strengthen their absorptive and adaptive capacities, and implement long-term climate risk reduction and adaptation measures. LANDBANK’s DOBS is a web application that reduces account opening time from 30 minutes to only 10 minutes. It also simplifies the account enrolment process for individuals and institutional clients. Opening an account through DOBS allows automatic enrollment to LANDBANK iAccess for internet banking, the LANDBANK Mobile App for convenient banking transactions through smartphones, and the LANDBANK Link.BizPortal for payment of bills, products and services to the enrolled merchants. The DOBS is in line with LANDBANK’s thrust of promoting financial inclusion among farmers and fishers, as well as Overseas Filipino Workers (OFWs), by providing them with an additional access point for their banking needs. From November 2018 to end of September 2020, a total of 1,039,926 accounts were opened via DOBS. Of this figure, 492,156 accounts were opened in the first nine months of the year, including the 11,972 accounts in the Overseas Filipino Bank (OFBank), the Bank’s digital-only branchless bank subsidiary. The full implementation of DOBS in January 2019 has helped reduce lobby traffic in LANDBANK branches. The ADFIAP Development Awards is an annual awards ceremony that honors ADFIAP members who have contributed significantly to the development of their respective countries. It started in 1997 when the association hosted the “Summit on Development Finance” in the Philippines.
READ MOREOn October 31, 2020, the Philippines along with other members of Association of Southeast Asian Nations (ASEAN) will celebrate ASEAN Savings Day (ASD). ASD aims to promote awareness of the importance of savings. This celebration coincides with the World Savings Day (WSD), which was established on October 31, 1924 during the first INternational Savings Bank congress in Milan, Italy. The theme for this year's ASD and WSD is "When you save a bit, big things will follow" and the social media hashtag is #savebig2020.
READ MORELand Bank of the Philippines (LANDBANK) has extended a total of P51.3 billion in outstanding loans to 639 local government units (LGUs) as of end-September 2020, as it ramps up support to the LGU sector which are the frontline entities tasked to lead in the recovery efforts post Covid-19. Part of this amount was made available through LANDBANK’s RISE UP LGUs (Restoration and Invigoration package for a Self-sufficient Economy towards UPgrowth for LGUs) Lending Program, which was launched in July, to support LGUs in the implementation of their local economic recovery plans In an online webinar, "Tapping Credit Financing for Robust Local Economic Growth: Successful LGU Ventures and Innovations," held last October 28, LANDBANK President and CEO Cecilia C. Borromeo reiterated the solid partnership between the Bank and LGUs, and its impact to Filipino families and communities across the country. The virtual event, hosted by the Bureau of Local Government Finance (BLGF) under the Department of Finance (DOF), forms part of the BLGF’s 33rd Anniversary Learning Session series entitled, “BLGF i3: Information, Inspiration, Insights.” “Working together is not something new to LANDBANK and LGUs. As early as 1992, LANDBANK resumed lending to LGUs after the enactment of the LGU Code in 1991. We recognized that LGUs are catalysts for positive change by bringing sustainable development in your respective localities,” President Borromeo said, referring to local executives present in the session. Alongside extending loans, LANDBANK also serves as the primary depository bank of LGUs. All 81 provinces, 146 cities, and 1,478 out of the 1,488 municipalities in the country maintain deposit accounts with LANDBANK. President Borromeo said that the Bank has been working hard to have the remaining 10 municipalities included in the LANDBANK ecosystem by the end of the year. LANDBANK also provides digital payment platforms to help LGUs boost their collection rate. As of September 2020, a total of P226.7 million in Real Property Taxes, Real Estate Taxes and business permit payments from 126 LGUs were collected and facilitated through the LANDBANK Electronic Payment Portal and Express Payment System. The LANDBANK RISE UP LGUs Lending Program is made available to eligible LGUs at a loan amount depending on their project requirements, provided that the total loan exposure (including the proposed loan under the program) should not be more than its Net Borrowing Capacity per BLGF computation or certification. “This is a very good time for the LGUs to consider accessing the credit facilities or the lending programs of the GFIs (Government Financial Institutions), because we are now experiencing a very low interest rate regime,” President Borromeo said during the session’s open forum. Under Republic Act 11494 or the “Bayanihan to Recover as One Act,” the Bank has also been allotted a P1-billion interest subsidy for new and existing loans secured by LGUs.
READ MORELabo Progressive Multi-Purpose Cooperative officers led by General Manager Mario Espeso (6th from left) with LANDBANK Officers and staff led by Senior Vice President Lucila E. Tesorero (5th from left). (inset) Workers process freshly-picked pineapples into world-class products. LABO, Camarines Norte – From its humble beginnings as a small group of public market vendors who started a paluwagan (an informal savings-and-lending group) back in 1987, the Labo Progressive Multi-Purpose Cooperative (LPMPC) has since grown to become one of the largest cooperatives in Camarines Norte and a leading force in pineapple farming and trading in the province. The co-op’s turning point happened in 1995 when a powerful typhoon devastated the province. It was also that year when its partnership with the Land Bank of the Philippines (LANDBANK) came into fruition. “When typhoon Rosing tore down LPMPC’s office that year, LANDBANK helped us out with a loan to purchase the 1.3-hectare piece of land where our new office now proudly stands,” recalled General Manager Mario Espeso. Today, LPMPC’s main headquarters now features a training center and several other buildings for its financing and agribusiness projects such as organic fertilizer, virgin coconut oil, and handmade paper production. LPMPC is a recognized pioneer in integrated pineapple production and processing. Knowing fully well the importance of value chain, the group purchases pineapples produced by farmer-members which are then processed into various pineapple products under the brand name “Queench”. The Queench line includes pineapple juice drinks, jams, dried pineapple, and jellies. Trained LPMPC craftsmen also produce pineapple fiber from the leaves that are then made into handmade paper and hand-woven cloth marketed as Formosa Manos. Even at the height of the government-imposed lockdowns caused by the COVID-19 health crisis, LPMPC continued to safely buy the produce of farmer-members or match them with buyers. This provided its members a steady source of income, the pandemic notwithstanding. LPMPC also provides job opportunities for locals, hiring employees for their credit and savings operations, and workers for the various agri-enterprises, including weavers and hand scrapers of pineapple leaves. Inmates of three (3) nearby district jails serve as fiber knotters and are given an extra source of income while serving time. The co-op has expanded to include four branches and one satellite office across the province catering to its more than 7,000 members. It also took over the management of the Agri-Pinoy Trading Center, the Provincial Agricultural Trading Center in Camarines Norte. Over the last 25 years, LANDBANK serves as one of LPMPC’s major partners in growth. Aside from financing the co-op’s working capital requirements, LANDBANK—through its subsidiary, the LANDBANK Countryside Development Foundation, Inc. (LCDFI)—conducts free capacity-building seminars and offers skills training and cooperative management scholarships for members. LANDBANK recognizes the importance of co-ops in local development, particularly in the agriculture sector. As of August 2020, the Bank’s outstanding agricultural loans reached P224.66 billion, of which P20.86 billion was extended to 1,081 cooperatives and farmers’ associations. For more information about the LANDBANK’s Lending Programs, contact the nearest open LANDBANK Lending Center or 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.
READ MOREBataan Governor Albert S. Garcia (3rd from left) and LANDBANK Central Luzon Branches Group Head First Vice President Sylvia C. Lim (4th from left) lead the official inauguration of the new LANDBANK Bataan Capitol Branch-Lite at The Bunker in Balanga City, Bataan. Joining them are (from left to right) LANDBANK Balanga Branch Head Nenita C. Lopez, Bataan Vice-Governor Ma. Cristina M. Garcia, Balanga Mayor Francis Anthony S. Garcia, and LANDBANK Bataan Capitol Branch-Lite Head Mark Michael Y. Apaya. BALANGA, Bataan – The Land Bank of the Philippines (LANDBANK) officially inaugurated on October 28, 2020 the Bataan Capitol Branch-Lite as it continues to expand its branch network to provide banking services to the public despite the ongoing COVID-19 pandemic. With the opening of the LANDBANK Bataan Capitol Branch-Lite, the state-run bank now operates 411 branches and extension offices strategically located across the country’s 81 provinces. This is complemented by 51 Lending Centers and 2,263 ATMs nationwide. “LANDBANK remains aggressive in bringing banking services closer to unbanked and underserved areas in the country. During these challenging times, Filipinos need safer, faster and more convenient access to financial services. We are committed in fulfilling this, while ensuring the health and safety of our clients and personnel,” said LANDBANK President and CEO Cecilia C. Borromeo. The inauguration was led by Bataan Governor Albert S. Garcia and LANDBANK Central Luzon Branches Group Head First Vice President Sylvia C. Lim. They were joined by Bataan Vice-Governor Ma. Cristina M. Garcia, Balanga Mayor Francis Anthony S. Garcia, LANDBANK Balanga Branch Head Nenita C. Lopez, and LANDBANK Bataan Capitol Branch-Lite Head Mark Michael Y. Apaya. The LANDBANK Bataan Capitol Branch-Lite will serve as an extension office of the Balanga Branch to help provide banking services to the entire province of Bataan, the 25 barangays of the City of Balanga, and various government agencies. This first LANDBANK branch-lite in the province is also expected to service the 236 farmers from Balanga, as well as the 1,025 beneficiaries of the Department of Social Welfare and Development (DSWD) under its Listahan and Social Pension programs. “With the City of Balanga’s steady progress through the years, it is but fitting that we at LANDBANK strengthen our presence here. Through this branch-lite, we hope to further contribute to the growth and development of Balanga and the entire Province of Bataan,” said LANDBANK FVP Lim. “Natutuwa po ako na nandito na ang LANDBANK to support us. Thank you very much for your continued partnership, trust, and confidence for the City of Balanga, the Province of Bataan, and our people,” Bataan Governor Garcia said, noting that having a LANDBANK branch in the area helps promote stability and symbolizes a bright future. The LANDBANK Bataan Capitol Branch-Lite will also play a significant part in the Province of Bataan’s vision of creating a “One-Stop-Shop” business center that houses national and local government offices, along with banks and other commercial establishments. LANDBANK clients of the Bataan Capitol Branch-Lite will enjoy the convenience of the Digital Onboarding System (DOBS), a web application that makes the accomplishment of account enrolment forms easier and reduces account opening time to only 10 to15 minutes. Opening an account through DOBS allows automatic enrollment to LANDBANK iAccess for internet banking, the LANDBANK Mobile App for convenient banking transactions through smartphones, and the LANDBANK Link.BizPortal for payment of bills, products and services to the enrolled merchants. LANDBANK now operates a total of five branches in Bataan, with the Bataan Capitol Branch-Lite and Balanga Branch complementing operations in Mariveles, Dinalupihan and Limay. A total of 22 LANDBANK ATMs are also spread across the province to facilitate fast, safe and timely cash transfers and withdrawals for Bataaeños.
READ MOREAs of Fri, April 25, 2025
| Buying | Selling | |
|---|---|---|
| USD | 56.25 | 56.75 |
| JPY | 0.388752 | 0.403776 |
| EUR | 63.163815 | 65.607824 |
| GBP | 73.988728 | 76.851588 |
| HKD | 7.223177 | 7.761414 |
As of Thu, April 24, 2025
| UITF | NAVPU |
|---|---|
| Cash Management Fund | 1.557366 |
| Money Market Fund | 1.310646 |
| PERA Money Market Fund | 1.023632 |
| Medium-Term Bond Fund | 2.470334 |
| Bond Fund | 2.024273 |
| PERA Bond Fund | 1.198883 |
| Balanced Fund | 2.585336 |
| Growth Fund | 2.562157 |
| Alpha Equity Fund | 2.96484 |
| Blue Chip Equity Fund | 0.954534 |
| Equity Fund | 0.773163 |
| High Dividend Equity Fund | 1.002938 |
| US$ Money Market Fund | 1.431822 |
| Global $ Fund | 1.518293 |
| Money Market Plus Fund | 1.223015 |
