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LANDBANK intensifies direct lending programs to individual farmers


February 19, 2020

In its continuing effort to intensify support to the country’s agriculture sector, Land Bank of the Philippines (LANDBANK) has started implementing a major directional shift in its lending programs to the individual small farmers and fishers.

LANDBANK President and CEO Cecilia C. Borromeo said the Bank aggressively pursued three (3) legislated lending programs last year in partnership with the Department of Agriculture (DA) that directly benefitted individual farmers.

“We have taken a major shift of lending directly to farmers especially for programs which we are jointly implementing with other government agencies, particularly the Department of Agriculture,” said President Borromeo.

One of the DA programs that LANDBANK supported in 2019 was the Expanded Rice Credit Assistance under the Rice Competitiveness Enhancement Fund (ERCA-RCEF), which the Bank implemented in line with the Rice Tarrification Law, with P358.25 million in loans released to 7,468 farmers.

LANDBANK also aggressively offered farmers financial support through the DA’s Agricultural Competitiveness Enhancement Fund (ACEF) lending program, which resulted to a significant increase in loans from P154.3 million in June 2019 to P1.04 billion as of yearend 2019, benefiting more than 7,000 farmers.

Likewise, the implementation of the Socialized Credit Program under the Sugarcane Industry Development Act (SCP-SIDA) for individual sugarcane farmers, block farms, and common service centers also recorded an increase in 2019, with loans doubling to P111.37 million, assisting 992 farmers.

Last year, LANDBANK intensified its lending to agriculture with loans reaching P236.31 billion, exceeding its yearend target of P231.25 billion. The bank also exceeded the number of farmers and fishers assisted, registering 1,032,982 or 103% of its yearend target of one million.


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Serving the digital demand: LANDBANK’s digital platforms record 42% rise to P8.8T in value

The Land Bank of the Philippines (LANDBANK) recorded a significant 42% growth or P8.8 trillion in digital transaction value in 2023 as compared to P6.2 trillion in 2022, facilitated by its digital banking channels and driven by growing customer preference for digital solutions.   The 42% surge was propelled by a 48% jump in total transaction volume of 92.9 million from 62.6 million year-on-year, facilitated through the Bank’s digital banking channels, including the LANDBANK Mobile Banking App (MBA), iAccess, weAccess, Link.BizPortal, i-Easy Padala, Electronic Tax Payment System (eTPS), Electronic Modified Disbursement System (eMDS), and LANDBANK Bulk Crediting System (LBCS). “LANDBANK continues to leverage technology to level-up service delivery and drive financial inclusion across the country. In step with growing customer demand, we are set to expand our innovative offerings to further contribute to the nation's digital transformation journey,” said LANDBANK President and CEO Lynette V. Ortiz. For retail clients, i-Easy Padala, LANDBANK’s real time web-based remittance system for overseas Filipinos, facilitated 3.3 million transactions for P4.33 trillion in value, which covers almost half of the total recorded value for the year. The LANDBANK Mobile Banking App (MBA) led the growth in digital transactions with a 44% increase to 55.2 million transactions amounting to P316.8 billion. The Bank’s web-based payment channel, Link.BizPortal, likewise facilitated 7.65 million transactions for a 33% increase, with total value of P11.5 billion. The payment channel also saw a substantial 53% rise in government agency partners, bringing the total number of Link.Biz merchants to 1,193 as of December 2023. LANDBANK’s alternative payment channel, eTPS, facilitated P134 billion in value; while the Bank’s online retail banking channel, iAccess, recorded P18.36 billion. For institutional clients, the LANDBANK eMDS internet facility for national government partners generated P2.95 trillion in value for a 38% increase year-on-year, facilitating 3.2 million transactions. LANDBANK's electronic bulk disbursement facility, the LBCS, recorded a total volume of 7.1 million transactions amounting to P67.86 billion, translating to unprecedented expansions of 296% and 138%, respectively. Lastly, the LANDBANK corporate internet banking platform, weAccess, recorded a 53% increase in transactions and 57% increase in value, facilitating over 14.4 million worth P952.1 billion, respectively.  LANDBANK remains committed to further enhancing its digital platforms and expanding its reach, to better serve diverse customer needs and contribute to growing the Philippines' digital economy. ABOUT LANDBANK LANDBANK is the largest development financial institution in the country promoting financial inclusion, digital transformation and sustainable development to benefit Filipinos. It is committed to provide responsive and meaningful services beyond banking, while leveraging on innovative technology for safe, convenient, and accessible digital banking solutions.

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