Finance Secretary and LANDBANK Chairman Ralph G. Recto (2nd from left), Bangko Sentral ng Pilipinas Governor Eli M. Remolona, Jr. (leftmost), and LANDBANK President and CEO Lynette V. Ortiz (center) confer the Ulirang Magsasaka Award to Deodany L. Cara (3rd from left) with his wife, Ma. Cecilia Cara (4th from left) during the LANDBANK 2024 MERIT Awards on 8 August 2024 in Malate, Manila. Joining them are LANDBANK Directors Virginia N. Orogo (6th from left) and Nancy D. Irlanda (7th from left), together with Executive Vice President Ma. Celeste A. Burgos (8th from left) and Vice President Rolando G. Santos. (rightmost).
Land Bank of the Philippines (LANDBANK) celebrated its 61st anniversary by recognizing its exceptional development partners in the delivery of essential financial and support services in local communities nationwide.
During an appreciation event held on 08 August 2024 at LANDBANK Plaza in Manila, the Bank honored outstanding clients and partners across various sectors through the Models of Excellence Recognition Initiative for Top Bank Clients (MERIT) Awards.
“The success stories of our awardees mirror the potential of our nation. It illustrates how far we can progress when we commit to being each other’s steadfast partners in development,” said Finance Secretary and LANDBANK Chairman Ralph G. Recto in addressing the MERIT awardees.
“Your work and contributions send a powerful message—that we can put an end to poverty not by looking out only for ourselves, but by working hand in hand together,” he added.
(Left) Finance Secretary and LANDBANK Chairman Ralph G. Recto congratulates the MERIT awardees for their achievements and contributions to building a more resilient, inclusive, and sustainable economy. (Right) LANDBANK President and CEO Lynette V. Ortiz expresses her gratitude to clients and partners for their continued trust and support for the Bank.
The LANDBANK MERIT Awards recognized the Bank’s high-performing clients who have become models of operational excellence, which include cooperatives, micro, small and medium enterprises (MSMEs), corporations and large enterprises, countryside financial institutions (CFIs), microfinance institutions (MFIs), and individual farmers.
LANDBANK President and CEO Lynette V. Ortiz expressed appreciation to the MERIT awardees for their contributions to advancing agriculture, entrepreneurship, and financial inclusion, and reaffirmed the Bank’s commitment to helping them achieve their full potential.
"When our clients thrive, we thrive. Every achievement represents our shared success; each milestone is a reflection of the strength of our partnership. That’s why it is only fitting that we pay tribute to you—our dear clients and partners—for your steadfast support and invaluable contributions on this meaningful journey," said LANDBANK President and CEO Ortiz.
Finance Secretary Recto and LANDBANK President and CEO Ortiz were joined by Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr., LANDBANK Directors Virginia N. Orogo, Nancy D. Irlanda, and David D. Erro, and LANDBANK Executive Vice President Ma. Celeste A. Burgos and Vice President Rolando G. Santos in presenting the awards to 14 MERIT awardees.
Department of Finance (DOF) Undersecretary Maria Luwalhati C. Dorotan-Tiuseco, Department of Agriculture (DA) Undersecretary Atty. Asis G. Perez, Department of Labor and Employment (DOLE) Assistant Secretary Lennard Constantine C. Serrano, Cooperative Development Authority (CDA) Assistant Secretary Santiago S. Lim, Securities and Exchange Commission (SEC) Assistant Director Daisy B. Pabuaya, and Philippine Guarantee Corporation (PGC) Senior Vice President Emmanuel R. Torres also graced the event.
Under the Gawad sa Pinakatanging Kooperatiba (Gawad PITAK), the Alicia Neighborhood Multi-Purpose Cooperative and Sorosoro Ibaba Development Cooperative were hailed as outstanding agri-based cooperatives in the medium and large categories, respectively. The Ating Ani Nueva Ecija Multipurpose Cooperative and Ligas Kooperatiba ng Bayan sa Pagpapaunlad were likewise honored for their outstanding contributions under the non-agricultural category.
The Gawad MSME was awarded to Ms. Fralyn B. Cruz and Sandig Medical Clinic and Hospital under the agri-based and non-agri-based sectors, respectively.
The Gawad Kaagapay was given to DoubleDragon Corporation, Asialink Finance Corporation, and Soliman E.C. Septic Tank Disposal for their contributions as corporations and large enterprises to growing the local economy.
ProFarmers Rural Banking Corporation, Producers Savings Bank Corporation, and ASA Philippines Foundation, Inc. were recognized with the Gawad PFI for their exceptional performance under the rural bank, thrift bank, and microfinance categories, respectively.
The Ulirang Magsasaka award was awarded to Mr. Deodany L. Cara, while Mr. Roderick G. Capalongan received a special citation for his innovative approach to integrated farming.
LANDBANK is celebrating its 61st anniversary this month, representing more than six decades of advancing development, inclusion, and sustainability in serving the nation.
About LANDBANK
LANDBANK is the largest development financial institution in the country promoting financial inclusion, digital transformation, and sustainable national development. Present in all 82 provinces in the county, the Bank is committed to provide accessible and responsive financial solutions to empower Filipinos from countryside to countrywide.
LANDBANK recognized as outstanding BSP partner
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. (leftmost) and Deputy Governor Bernadette Romulo-Puyat (rightmost) present a plaque of recognition and a special token to Land Bank of the Philippines (LANDBANK) President and CEO Lynette V. Ortiz (center), along with Executive Vice Presidents Liduvino S. Geron (2nd from right) and Leila C. Martin (4th from right), during the 2024 Outstanding BSP Stakeholders Appreciation Ceremony on 02 August 2024 at the BSP Head Office in Manila. LANDBANK was recognized for its strong support in the circulation and usage of the 1000-Piso polymer banknotes. The state-run Bank was also lauded for its vital role as the distribution arm of the National Government’s social welfare programs, ensuring the timely, safe, and efficient disbursement of cash aid to Pantawid Pamilyang Pilipino Program (4Ps) beneficiaries. ABOUT LANDBANK LANDBANK is the largest development financial institution in the Philippines promoting financial inclusion, digital transformation, and sustainable national development. Present in all 82 provinces in the country, the Bank is committed to provide accessible and responsive financial solutions to empower Filipinos from countryside to countrywide.
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LLFC-ULFC merger to boost financing for enterprise expansion
Land Bank of the Philippines (LANDBANK) welcomed the recent issuance of Executive Order No. 65, which authorizes the merger of the LANDBANK Leasing and Finance Corporation (LLFC) and UCPB Leasing and Finance Corporation (ULFC). President Ferdinand R. Marcos Jr. signed EO 65 on 6 August 2024, which effectively merges the two leasing and finance corporations, with LLFC as the surviving entity. Both LLFC and ULFC are subsidiaries of LANDBANK, with the latter becoming a subsidiary upon the merger of LANDBANK and the United Coconut Planters Bank (UCPB) in 2022. “Given the similar product and service offerings, this synergy will enhance LANDBANK’s leasing and financing market power and reach. The move is also consistent with the national government’s streamlining to address duplication of functions, and organizational right-sizing to reduce the demand on government resources such as personnel and infrastructure, among others,” said LANDBANK President and CEO Lynette V. Ortiz. The merger positions LLFC to better support the national government’s development agenda, with its strengthened capital base and improved operational capacity. The state-run Bank also assured the clients of LLFC and ULFC that the merger will be smooth and orderly—with customer servicing unhampered—and conducted with the welfare of all stakeholders in mind. ABOUT LANDBANK LANDBANK is the largest development financial institution in the country promoting financial inclusion, digital transformation, and sustainable national development. Present in all 82 provinces in the county, the Bank is committed to provide accessible and responsive financial solutions to empower Filipinos from countryside to countrywide.
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LANDBANK leads P110-B syndicated loan to fuel the local power sector
PSALM President and CEO Dennis Edward A. Dela Serna (2nd from right), LANDBANK President and CEO Lynette V. Ortiz (rightmost), and DBP President and CEO Michael O. de Jesus (3rd from right) lead the ceremonial signing for the P110-billion syndicated loan for PSALM on 30 July 2024 in Quezon City, witnessed by Assistant Government Corporate Counsel Judge Basilia Serrano-Angeles (leftmost). Land Bank of the Philippines (LANDBANK) has extended the majority of the P110-billion syndicated loan facility to state-owned Power Sector Assets and Liabilities Management (PSALM) Corporation in support of strengthening and enhancing the competitiveness of the country’s local power industry. LANDBANK committed to financing P60 billion of the total facility amount. The proceeds will be used by PSALM to augment its working capital requirements, refinance existing liabilities, and settle domestic contractual obligations. “LANDBANK has a long-standing history of supporting the National Government’s electrification initiatives, with our loan portfolio encompassing a wide range of energy-related projects. We will continue to support PSALM in addressing the energy needs of the country today and in the future,” said LANDBANK President and CEO Lynette V. Ortiz. PSALM President and CEO Dennis Edward A. Dela Serna, together with LANDBANK President and CEO Ortiz and Development Bank of the Philippines (DBP) President and CEO Michael O. de Jesus, led the ceremonial signing for the Php 110.0 billion syndicated term loan facility agreement on 30 July 2024 in Quezon City. Assistant Government Corporate Counsel Judge Basilia Serrano-Angeles witnessed the event. “We express our heartfelt gratitude to LANDBANK, DBP and OGCC for their continued support in attaining PSALM’s financial objectives. PSALM’s liability management program has presented significant challenges as we strive to fulfill our mandate of liquidating the financial obligations we have assumed. This syndicated loan provides additional financial support to PSALM, ensuring our continued progress and assist our asset management and privatization strategies,” said PSALM President and CEO Dela Serna. “With this loan, we are projecting a net reduction of PHP12.9 billion in our financial obligations for CY 2024,” he added. LANDBANK and DBP acted as the Joint Lead Arrangers for the syndicated deal, with the DBP - Trust Banking Group as the Facility and Paying Agent, and the Office of the Government Corporate Counsel (OGCC) as the Transaction Counsel. PSALM is a wholly-owned and controlled government entity mandated under the Electric Power Industry Reform Act (EPIRA) to take over the ownership of all existing generation assets of the National Power Corporation (NPC), independent power producer (IPP) contracts, real estate, and all other disposable assets, including the transmission business of the National Transmission Corporation (TransCo). The agency also manages the orderly sale and privatization of these assets with the objective of liquidating all of NPC's financial obligations in an optimal manner. LANDBANK has been a steadfast partner of PSALM since 2008, providing essential financing in support of its mandate under the EPIRA law. The Bank also continues to service the development requirements of the energy sector, including other industry players such as large oil companies, power producers, and distribution utilities. ABOUT LANDBANK LANDBANK is the largest development financial institution in the country promoting financial inclusion, digital transformation, and sustainable national development. Present in all 82 provinces in the county, the Bank is committed to provide accessible and responsive financial solutions to empower Filipinos from countryside to countrywide.
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