LANDBANK President and CEO and OFBank Chairperson Lynette V. Ortiz (Center), OFBank OIC Atty. Reo S. Andarino (5th from left), and DMW OIC-Secretary Hans Leo J. Cacdac (3rd from left) lead the signing of a Memorandum of Agreement to fast-track the delivery of indemnity claims for OFWs affected by company closures in Saudi Arabia. Joining them as witnesses are DMW Usec. Maria Anthonette C. Velasco-Allones (leftmost) and Usec. Bernard P. Olalia (2nd from left), together with LANDBANK Executive Vice President Liduvino S. Geron (6th from left), and OFBank Relationship Officer Jose Aryiel G. Castor. (rightmost).
The Land Bank of the Philippines (LANDBANK), the Overseas Filipino Bank (OFBank), and the Department of Migrant Workers (DMW) have joined forces to expedite the delivery of indemnity claims to Overseas Filipino Workers (OFWs) displaced by the bankruptcies of Saudi Arabian construction companies in 2015 and 2016.
The collaboration will integrate and streamline the processes of LANDBANK and OFBank with the DMW, to fast-track the processing and crediting of checks as compensation for the unpaid wages and other benefits of affected OFWs, including the claimant families of eligible workers already deceased.
As of 29 February 2024, LANDBANK and OFBank have credited a total of 1,211 checks to affected OFWs amounting to US$16.4 Million.
LANDBANK President and CEO and OFBank Chairperson Lynette V. Ortiz, OFBank OIC Atty. Reo S. Andarino, and DMW OIC-Secretary Hans Leo J. Cacdac led the signing of the tripartite Memorandum of Agreement at the DMW Office in Pasig on 01 March 2024. Witnesses include DMW Undersecretaries Maria Anthonette C. Velasco-Allones and Bernard P. Olalia, alongside LANDBANK Executive Vice President Liduvino S. Geron, and OFBank Relationship Officer Jose Aryiel G. Castor.
“We're happy to be able to help with this project for our OFWs. We want to ensure that the back pays of all our displaced kababayans are delivered at the soonest possible time,” said LANDBANK President and CEO and OFBank Chairperson Ortiz.
LANDBANK will offer over-the-counter banking services to eligible OFWs to claim their indemnity claims, free of charge, through the Bank’s extensive network of 607 branches and branch-lite units nationwide.
The Bank will likewise coordinate with foreign depository banks in monitoring the Outward Bills for Collection (OBC) from the OFWs, and facilitate the flow of inward funds to the OFBank accounts of their beneficiaries.
Meanwhile, the OFBank will assist OFWs and their beneficiaries, including those who are currently overseas, with opening an account and accessing the Bank’s digital services, while collaborating with the DMW in raising awareness on the procedures covering the negotiation of indemnity checks from foreign employers.
OFBank will also spearhead the provision of financial education services to OFWs particularly on savings and investment management and accessing the Bank’s digital services.
“We are thankful for this long-standing partnership. Ang tulong ng LANDBANK sa ating mga OFWs ay di matatawaran. And the good news is we can do so much more. Among others, this matter on the claims of the workers in Saudi Arabia is very high on the agenda,” said DMW OIC-Secretary Cacdac.
The DMW will be coordinating with all the identified beneficiaries and will provide assistance on the procedures for the negotiation of the checks. The department will also maintain a helpline to immediately respond to the inquiries of qualified OFWs and their beneficiaries.
The DMW will likewise handle the negotiation for the cases of deceased eligible OFWs in favor of their identified heirs and family members.
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.
ABOUT OFBank
The OFBank, a fully-owned subsidiary of LANDBANK, is the country’s first digital government Bank which is focused on serving the diverse banking and financing requirements of Filipinos overseas. The Bank is serving clients from a total of 132 countries and territories as of 29 February 2024, including the top 10 destinations for the deployment of overseas Filipino workers (OFWs).
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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.
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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.
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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.
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