Bataan palay farmers Godofredo Magpoc (leftmost), Danilo Zulueta (upper right), and Roberto Morales (lower right) reap the benefits of financial assistance from the Expanded Rice Credit Assistance under the Rice Competitiveness Enhancement Fund (ERCA-RCEF) Program of Land Bank of the Philippines (LANDBANK) and the Department of Agriculture (DA) for the production requirements of their rice fields.
BATAAN – For the past 37 years, Godofredo Magpoc has provided for his family by growing different varieties of palay in his 2-hectare farm in Orion town. But with the recent decline in palay prices affecting his income, raising capital to sustain his livelihood has become a challenge.
“Sa panahon ngayon, lubhang napakahirap para sa isang magsasaka ang mawalan ng puhunan. Kaya naman napipilitan humiram sa patubuan (informal lenders),” Magpoc said.
In December 2019, Magpoc learned about the Expanded Rice Credit Assistance under the Rice Competitiveness Enhancement Fund (ERCA-RCEF) Program of the Land Bank of the Philippines (LANDBANK) and the Department of Agriculture (DA). This credit facility aims to boost the productivity and income of small rice farmers, and cushion the initial impact of Republic Act No. 11203, also known as the Rice Tariffication Law (RTL).
Under the ERCA-RCEF, individual farmers may borrow up to 90% of the total project cost—at a fixed interest rate of 2% per annum—for the purchase of farm inputs for rice and rice seed production, and acquisition of farm machineries and equipment for production and post-production.
Magpoc successfully applied for a loan of P78,500.00 from LANDBANK, which he used to purchase farm inputs and hire additional farm workers. Since availing of the ERCA-RCEF Program, he has seen an increase in yield of about 30-40 cavans of rice every harvest season. He will be availing his fourth loan under the Program this May 2021.
“In partnership with the Department of Agriculture, LANDBANK remains focused on delivering responsive financial services most especially to rice farmers and cooperatives. Through the ERCA-RCEF Program, we aim to increase their productivity and income through timely and accessible financial assistance,” said LANDBANK President and CEO Cecilia C. Borromeo.
Like Magpoc, palay farmer Danilo Zulueta from the Municipality of Pilar, also enjoyed the benefits of the ERCA-RCEF Program. A farmer for the past 20 years, he was granted a loan of P61,500.00 last December 2020 to support his 1.5-hectare rice field, which he used for land preparation, and to buy fertilizers and pesticides.
“Malaki ang naitulong ng pautang ng LANDBANK at DA. Dahil sa sapat na puhunan, nakapagpatanim ako ng naaayon sa bilang ng araw ng punla at nakapagsabog ng abono (fertilizer) sa tamang panahon. Dahil dito, naniniwala akong magkakaroon ako ng masaganang ani at siyempre, magkakaroon ng karagdagang kita,” said Zulueta.
For Roberto Morales, another palay farmer from Balanga City, the ERCA-RCEF Program is the best alternative from informal lenders who charge higher interest rates. Under the Program, LANDBANK granted him a loan of P82,000.00 in December 2019 which he used as additional capital to purchase fertilizers and pesticides.
“Malaki ang naitulong ng perang nahiram ko mula sa LANDBANK. Tumaas ang aking kita dahil 2% per annum lang ang interest rate ng ERCA-RCEF kumpara sa iba na may mataas na interes,” said Morales.
Continuing support for palay farmers
Under the ERCA-RCEF Program, LANDBANK has cumulatively released P1.03 billion in loans to 6,214 eligible borrowers composed of palay farmers and cooperatives as of April 30, 2021.
Most of the farmer-beneficiaries were from Region 2—particularly the rice-producing provinces of Cagayan, Nueva Vizcaya and Quirino—where LANDBANK assisted a total of 3,129 rice farmers and 19 cooperatives.
DA-accredited cooperatives may also borrow under the ERCA-RCEF Program for the purchase of farm inputs for rice and rice seed production as a collective operation, working capital for rice and rice seed trading, and other rice farming-related activities such as the acquisition of machineries and equipment, as well as relending and rediscounting of existing loans of small rice farmers listed in the Registry System for Basic Sectors in Agriculture (RSBSA).
For on-lending, the interest rate is at 0% per annum with prescribed pass-on rate to end-borrowers of up to 6% per annum.
As mandated by Republic Act No. 11203, LANDBANK shall continue to administer the ERCA-RCEF Program for DA until 2024, and make available P500 million in loans annually to rice farmers registered to the RSBSA in 38 rice-producing provinces.
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.
.png)
LANDBANK shines with dual honors at PDS Awards
LANDBANK bags two awards at the Philippine Dealing System (PDS) Annual Awards Night in recognition of its contributions to advancing the Philippine capital market. (Right photo) Accepting the awards on behalf of LANDBANK are Senior Vice President Gonzalo Benjamin A. Bongolan (2nd from left) and Assistant Vice President Glenn R. Aguda (3rd from left), presented by PDS Group President Ramon S. Monzon (leftmost) and PDEx President and CEO Antonio A. Nakpil (rightmost). MAKATI CITY, Philippines—Highlighting its growing contribution to advancing the Philippine capital market, LANDBANK was honored as one of the top-performing institutions at the 2025 Philippine Dealing System (PDS) Annual Awards Night. The state-run bank clinched 3rd place in the Top 5 Corporate Issue Managers/Arrangers – Bank Category, in recognition of its vital role in facilitating the issuance of corporate fixed-income securities in 2024. The award honors institutions that led or arranged the largest volume of listed corporate securities offered during the year. The Bank also ranked 4th among the Top 5 Fixed-Income Brokering Participants, highlighting the Bank’s strong presence in the fixed-income market and significant contribution to overall trading volume by face amount. LANDBANK Senior Vice President Gonzalo Benjamin A. Bongolan and Assistant Vice President Glenn R. Aguda accepted the awards on behalf of the Bank on 4 April 2025 at the Makati Diamond Residences. Since 2005, the PDS Group, comprising the Philippine Dealing System Holdings Corp. and its subsidiaries, has been recognizing outstanding performance, leadership, innovation, and contributions to the capital market through its annual awards. These accolades underscore LANDBANK's strategic role in deepening the local capital markets, in line with its broader mission of supporting agriculture and other key development sectors in driving inclusive and sustainable development. 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.
LEARN MORE
LANDBANK extends P1.3-B financing for Isabela Feed Mill Complex
ILAGAN CITY, ISABELA — LANDBANK has sealed a financing deal with Sagittarian Agricultural Philippines, Inc. (SAPI) to support the construction of the Isabela Feed Mill Complex, reinforcing its commitment to advancing the country’s agricultural sector. Under the partnership, LANDBANK will provide a P1.2 billion loan to partially fund the development of the 15-hectare feed mill facility in the country’s corn capital, plus an additional P100 million credit line to support SAPI’s working capital needs. Strategically located in this city to maximize Isabela’s abundant corn supply, the Feed Mill Complex will be leased to Charoen Pokphand Philippines Corporation (CPFPC), a leading food and agro-industrial company and a long-standing LANDBANK client. The project is expected to increase corn prices from P1.00 to P2.00 per kilogram, benefiting an estimated 97,734 small farmers across Isabela and neighboring provinces. “With this investment, LANDBANK reaffirms its commitment to modernizing the agricultural sector, empowering local farmers, and strengthening the country’s food security and support the agriculture value chain,” said LANDBANK President and CEO Lynette V. Ortiz. The loan and credit line signing ceremony was led by LANDBANK Northern Luzon Lending Group Head First Vice President Eduardo N. Reyes Jr. and Northern Isabela Lending Center Head Myra Myrtha M. Padolina, alongside SAPI President and CEO Jose Avelino C. Diaz and Corporate Secretary Atty. Danver Albert R. Arzaga. Also present as witnesses were City of Ilagan Mayor Josemarie L. Diaz, Vice Mayor Kyrill S. Bello, CPFPC Vice President Suchart Panparn, Assistant Vice President Darwin Lictawa, and LANDBANK Account Officer Honeylee B. Gomez. 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.
LEARN MORE.jpg)
LANDBANK sees surge in digital banking usage in 2024
The LANDBANK Mobile Banking App (MBA) powered the Bank’s digital surge in 2024, logging 106.82 million transactions or almost double the previous year’s total of 55.2 million. LANDBANK recorded a significant increase in digital banking transactions in 2024, driven by the growing shift of customers to online banking services and the Bank’s sustained investments in enhancing its digital platforms. The Bank facilitated a total of 162.28 million digital transactions, marking a 67% expansion from 97.08 million in 2023, with a total value of ₱3.38 trillion, up 38% from ₱2.45 trillion. “Digital banking is not just about convenience—it’s about inclusion. Through our digital banking channels, we are empowering every Filipino to take control of their finances. Our goal is to make safe, reliable, and convenient banking accessible to all, especially our farmers and fishers, business owners, OFWs, and government agencies,” said LANDBANK President and CEO Lynette V. Ortiz. The LANDBANK Mobile Banking App (MBA) led the growth in the Bank’s total transaction volume, with a record 106.82 million transactions in 2024—nearly double the 55.2 million transactions recorded in the prior year. Through the MBA, users can perform a wide range of banking services, including fund transfers, bill payments, and investing in government securities. Among the App’s major enhancements last year was the straight-through account opening feature, which allows customers to open a digital account online via smartphones without visiting a branch. In terms of transaction value, the Bank’s corporate Internet banking platform, weAccess, recorded the highest volume at ₱1.36 trillion. This marks a 43% year-on-year growth from ₱952.14 billion in 2023. LANDBANK’s other major digital channels include iAccess, an online retail banking channel; Link.BizPortal, a web-based payment channel; Electronic Modified Disbursement System (eMDS), a facility for institutional clients and national government partners; and LANDBANK Bulk Crediting System (LBCS), an electronic bulk disbursement facility. The LANDBANK MBA was named the “Most Innovative Banking Application” at the 12th Annual International Finance Awards 2024 in Bangkok, Thailand. The Bank was likewise recently recognized as the “Best e-Banking Services Provider” and “Most Reliable Mobile Banking App Provider” at the World Business Outlook Awards 2025 by Singapore-based business magazine, World Business Outlook. Bringing banking closer to more Filipinos As part of its broader digital transformation agenda, LANDBANK continues to innovate how it brings banking services closer to more Filipinos—especially those in underserved and remote areas. LANDBANK began rolling out “phygital” branches in December 2024 that combine physical and digital services for a more streamlined, seamless, and delightful customer experience. These branches showcase a refreshed look, equipped with self-service machines, new queuing and tellering systems, meeting pods, and interactive zones. To further extend its reach, the Bank is ramping up its LANDBANKasama Program, which brings basic banking services to far-flung and underserved areas. By partnering with local cooperatives, associations, rural banks, LGUs, MSMEs, and private entities, the Bank empowers these community-based partners to serve as LANDBANKasama partners, providing services such as cash withdrawal, deposit, fund transfers, bills payment, and balance inquiry. LANDBANK is also pioneering cash-lite ecosystems in key areas, starting with the Province of Batanes. By promoting the use of digital payments and equipping local merchants, residents, students and LGUs with digital financial tools and skills, the initiative promotes the use of cashless transactions as a safer, faster, and more convenient way to manage daily financial needs—ultimately reducing reliance on physical cash and fostering a digitally inclusive local economy. With its digital strategy in full swing, LANDBANK remains committed to accelerating digital transformation and delivering enhanced customer experience across the country—anchored on its mandate to serve the agriculture sector, empower small farmers and fishers, and drive inclusive and sustainable national development for all Filipinos. 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.
LEARN MORE
