(left photo) Finance Secretary Carlos G. Dominguez III (4th from left) and LANDBANK President and CEO Cecilia C. Borromeo (5th from left), together with Mindanao Development Authority Secretary Maria Belen Sunga-Acosta (3rd from left) and Davao City Councilor Diosdado Angelo Mahipus, Jr. (2nd from left), lead the unveiling of the official marker of the LANDBANK Davao Corporate Center (right photo) on 24 June 2022 located in Bajada, Brgy. Buhangin in Davao City. They were joined by LANDBANK Director Jaime L. Miralles (leftmost), Executive Vice Presidents Alex A. Lorayes (rightmost) and Liduvino S. Geron (6th from left).
DAVAO CITY – The Land Bank of the Philippines (LANDBANK) strengthens its presence in Davao City and nearby localities with the opening of a four-story corporate center in Bajada, Brgy. Buhangin, to provide convenient access to a wide array of banking services.
The LANDBANK Davao Corporate Center—the bank’s biggest corporate center outside of the National Capital Region—will serve the various banking and financial needs of over 30,000 customers in East Mindanao, as it houses the Bank’s major touchpoints and local offices.
Department of Finance (DOF) Secretary and LANDBANK Chairman Carlos G. Dominguez III and LANDBANK President and CEO Cecilia C. Borromeo, alongside Mindanao Development Authority (MinDa) Secretary Maria Belen Sunga-Acosta and Davao City Councilor Diosdado Angelo Mahipus, Jr., led the inauguration rites for the LANDBANK Davao Corporate Center on 24 June 2022. They were joined by LANDBANK Director Jaime L. Miralles, Executive Vice Presidents Alex A. Lorayes and Liduvino S. Geron, and other Bank senior officers.
“The Davao Corporate Center underscores LANDBANK’s commitment to expanding its reach and bringing its services to all Filipinos,” said Finance Secretary Dominguez. “I see this corporate center as LANDBANK’s investment in one of the fastest-growing regions in the country. With the infrastructure build-up in the region and the great potential the area holds, rapid growth will transpire here in the next few years,” he added.
Meanwhile, LANDBANK President and CEO Borromeo underlined LANDBANK’s expanded role in nation-building by supporting a broad range of development sectors.
“LANDBANK has been a strong arm of the government in advancing inclusive development programs, accelerating growth of local economies, and bringing banking services to the farthest reach of our country. Moving forward, LANDBANK will build on its growth momentum and bring to a higher gear its pursuit of serving the nation,” said LANDBANK President and CEO Borromeo.
Located on the ground floor of the Davao Corporate Center is the LANDBANK Bajada Branch, which will service customers from the four districts of Davao City, including various local and national government offices, private establishments and retail clients.
The Branch has three onsite automated teller machines (ATMs) to cater to the cash requirements of over 40,000 beneficiaries of the Conditional and Unconditional Cash Transfer (CCT/UCT) programs of the Department of Social Welfare and Development (DSWD), government employees, teachers, students, and other local residents.
The LANDBANK Bajada Branch also features a Digital Corner where customers can open a deposit account in only 15 minutes or less using the Bank’s Digital Onboarding System (DOBS). Opening an account via DOBS provides automatic enrollment to LANDBANK’s digital banking channels for safe and convenient online transactions.
On the third floor of the corporate center is the LANDBANK Davao Lending Center, which will cater to the financing requirements of local farmers and fishers, agrarian reform beneficiaries, micro, small and medium enterprises (MSMEs), cooperatives, and local government units (LGUs), among the Bank’s priority sectors.
The Davao Corporate Center also serves as the official station of the LANDBANK Mobile ATM and Mobile Branch in Mindanao, which are on standby to service areas disrupted by disasters and calamities, as well as unbanked and underserved communities.
Other LANDBANK field offices in the corporate center are the East Mindanao Branches Group, Mindanao Lending Group, Davao Cash Operations Unit, Trust Desk, Loan Operations Management Department – Mindanao Unit, Davao Loan Operations Field Unit, Property Valuation and Credit Information Department – Davao Field Team, Cash Management Solutions Department Mindanao, Davao del Sur Accounting Center 1, Agrarian Operations Center XI, Field Legal Services XI, and Organization Development Department Mindanao.
The Commission on Audit (COA) and Upland Southern Mindanao–Credit and Institutional Building Program (USM-CIBP) were also provided space within the corporate center.
LANDBANK currently operates a total of nine branches and one lending center in Davao City. This is complemented by 64 ATMs, two cash deposit machines (CDMs), and eight Agent Banking Partners (ABPs) that provide basic banking services on behalf of LANDBANK in areas with limited access to formal banking.
LANDBANK is the only bank present in all 81 provinces in the Philippines, with plans for continued expansion focusing on servicing the requirements of its diverse customer base nationwide.
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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