LANDBANK President and CEO Cecilia Cayosa Borromeo (center) receives the Outstanding CEO Award 2023 from ADFIAP Chairman Mominul Islam (right) and Royal Government of Cambodia delegate and ARDB Bank CEO Dr. Kao Thach (left) at the ADFIAP Development Awards in Almaty, Kazakhstan.
Land Bank of the Philippines (LANDBANK) President and CEO Cecilia Cayosa Borromeo was hailed as ‘Outstanding CEO for 2023’ during the annual Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) Development Awards on 16 May 2023 held in Almaty, Kazakhstan.
The “Outstanding CEO Award 2023” is granted by ADFIAP to a practicing Chief Executive Officer whose exceptional leadership, vision, and achievements have made a significant impact on his or her institution, the development banking profession, and the country’s development.
The award recognizes Borromeo’s accomplishments in steering the Bank’s transformation as a development-oriented institution at the forefront of nation-building.
“I am deeply honored and humbled by this recognition from peers in development finance. This accolade extends to the men and women of LANDBANK who are passionate in service, committed to the pursuit of excellence, and inspired to make a positive difference,” said President Borromeo.
President Borromeo led LANDBANK’s intensified support to agriculture, by almost quadrupling the number of small farmers and fishers assisted from 889,669 in June 2019 to 3.5 million by the end of 2022, exceeding its commitment to reach 3 million small farmers and fishers by 2022.
The Bank’s agri loans also grew to P261.7 billion—the highest in the industry—which supported all components of the agriculture value chain.
Under her leadership, LANDBANK became a key player in advancing the National Government’s financial inclusion agenda, by onboarding a total of 8.35 million previously unbanked Filipinos who are registrants in the National ID program.
President Borromeo likewise pushed for the continued expansion of LANDBANK’s reach, especially in unserved and underserved areas. LANDBANK is the only bank present in all 82 provinces of the country, with touchpoints in 80% of the 1,634 cities and municipalities nationwide.
It was also during her term that LANDBANK ramped up its digitalization drive towards providing digital solutions to meet the growing needs of customers, posting year-on-year growths of 14% amounting to 155.8 million transactions and 126% for P5.6 trillion in value, respectively, in 2022.
LANDBANK breached the P3-trillion mark in total assets and P30-billion in net income in 2022, posting an asset growth of 21.5% to P3.1 trillion and a jump of 38.2% in net income to P30.1 billion, respectively.
President Borromeo’s term also saw the establishment of LANDBANK’s subsidiary, the Overseas Filipino Bank (OFBank), as a digital bank and the first branchless bank in the Philippines catering especially to Overseas Filipino Workers and Overseas Filipinos.
Other ADFIAP Awards
At the awarding ceremony, LANDBANK also bagged an Environmental Development award for its Clean Development Mechanism (CDM) on Animal Waste Management project, which promotes biodigester technology as a pollution control system for piggery farm operations.
Piggery farm operations normally generate methane gas, which is a greenhouse gas (GHG). Through this technology, methane gas is captured, converted into energy resource to be utilized for farm operations, enabling reduction of GHG and its harmful effects.
The Bank also received a Merit Award on Financial Inclusion for offering Online Deposit Account Opening and Purchase of Retail Treasury Bonds, which allows clients to open an account and purchase Retail Treasury Bonds (RTB) offered by the Bureau of the National Treasury (BTr).
LANDBANK is the only government entity that offers an online ordering platform for bond issuances of the National Government.
ADFIAP serves as the focal point of all development banks and other financial institutions engaged in development financing across the Asia-Pacific region, with the mission to advance sustainable development through its members.
The annual ADFIAP Awards recognizes member-institutions that have made important contributions to national development.
LANDBANK maintains top GOCC status, bags multiple governance awards
Director Virginia N. Orogo (5th from right) accepts the award on behalf of LANDBANK for being the top GOCC in corporate governance for 2023 from Executive Secretary Lucas P. Bersamin (6th from right), GCG Chairperson Atty. Marius P. Corpus (7th from right), and GCG Commissioners Atty. Brian Keith F. Hosaka (8th from right) and Atty. Geraldine Marie Berberabe-Martinez (rightmost) during the 2024 GCG Awards Ceremony on 25 November 2024 at the PICC Complex in Pasay City. Joining them are LANDBANK Executive Vice President Liduvino S. Geron (4th from right), Senior Vice President Atty. Roderick P. Sacro (leftmost), and Vice Presidents Atty. Myra-Lyn S. Peñalosa (3rd from right), May D. Arizabal (2nd from right), and Atty. Nikkolas G. Tolentino (9th from right). (Photo credits to GCG) LANDBANK was named the top government-owned and controlled corporation (GOCC) for the second consecutive year, earning the highest rating for corporate governance in 2023 from the Governance Commission of GOCCs (GCG). The state-run Bank garnered an unprecedented rating of 104% on the GCG’s Corporate Governance Scorecard (CGS), exceeding the rating ceiling of 100%. The CGS is an evaluation tool that assesses the corporate governance practices of GOCCs, using a methodology aligned with international standards. “Being recognized anew as the top GOCC for corporate governance reflects LANDBANK’s steadfast commitment to transparency, accountability, and excellence in public service. This recognition drives us further to continuously foster a culture of good governance, ensuring that we remain a reliable and trusted partner in promoting inclusive and sustainable growth across the nation,” said LANDBANK President and CEO Lynette V. Ortiz. Executive Secretary Lucas P. Bersamin, alongside GCG Chairperson Atty. Marius P. Corpus and Commissioners Atty. Brian Keith F. Hosaka and Atty. Geraldine Marie Berberabe-Martinez, conferred the award to LANDBANK during the 2024 GCG Awards Ceremony at the PICC Complex in Pasay City. LANDBANK Director Virginia N. Orogo received the award on behalf of the Bank, along with Executive Vice President Liduvino S. Geron, Senior Vice President Atty. Roderick P. Sacro, and Vice Presidents Atty. Myra-Lyn S. Peñalosa, May D. Arizabal, and Atty. Nikkolas G. Tolentino. LANDBANK also ranked among the top-ranking GOCCs in the 2023 GCG Performance Evaluation System (PES), which measures the achievements of GOCCs based on performance criteria, targets, and weighted indicators outlined in the Performance Scorecard. In addition, LANDBANK received a Sustainability Award for its outstanding commitment to sustainability values and practices. The Bank was further lauded for consistently achieving high scores in the "Responsibilities of the Board" section of the Corporate Governance Scorecard and for adhering to the Global Reporting Initiative (GRI) Standards in its Sustainability Reporting for calendar years 2021 to 2023. LANDBANK has long been committed to upholding the highest ethical standards while faithfully fulfilling its role in nation-building. In 2024, the Bank remitted a record-setting P32.119 billion in cash dividends to the National Government—the highest in the Bank’s history and among all GOCCs—to support the country’s priority infrastructure projects and socio-economic programs. From governance to sustainability, LANDBANK continues to set benchmarks for excellence in the public sector, solidifying its role as a key and reliable partner in empowering the country’s drive toward inclusive progress. 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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LANDBANK remains financially strong, regulatory compliant
LANDBANK reaffirms its financial strength and stability, following the Bank’s P50-billion contribution to the Maharlika Investment Fund (MIF), and remains fully committed to its mandate as a reliable partner to the national government’s inclusive development agenda. The state-run Bank has consistently met and exceeded the minimum requirements of the Bangko Sentral ng Pilipinas (BSP) for Capital Adequacy Ratio (CAR)—a critical benchmark of financial health—as it stays financially robust with no urgent need for additional capital. Earlier this year, LANDBANK remitted P32.119 billion in cash dividends to the National Government—the highest among all Government Owned and Controlled Corporations (GOCCs) and in the Bank’s history. This milestone reflects the Bank's sustained financial strength and ability to generate consistent revenues while fulfilling its developmental mandate. As of 30 November 2024, LANDBANK’s CAR remains at a healthy level of 16.42% which is well above the 10% regulatory threshold, further demonstrating the Bank’s resilience against financial and operational risks. Following the P50-billion seed capital allocation to the MIF in September 2023, LANDBANK’s CAR stood at 16.20%, remaining comfortably above regulatory requirements and reflecting the Bank’s commitment to financial stability. The Bank also clarified that regulatory relief was sought from the BSP as a proactive measure to maintain resilience. LANDBANK has consistently adhered to prudent financial management practices, effectively utilizing its resources to promote agriculture, fisheries and rural development, and empower key development sectors. 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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Elevating customer experience: LANDBANK inaugurates ‘phygital’ Branch
LANDBANK President and CEO Lynette V. Ortiz (6th from left) leads the ribbon-cutting ceremony for the LANDBANK Masterson Phygital Branch, alongside Cagayan de Oro City 2nd District Rep. Rufus B. Rodriguez (5th from left). Joining them are Initao Mayor Mercy Grace J. Acain (4th from left), 2nd District of Misamis Oriental Board Member Gerardo P. Sabal III (2nd from left), with LANDBANK officials including Executive Vice President Maria Celeste A. Burgos (7th from left), Senior Vice Presidents Charlotte I. Conde (8th from left) and Catherine Rowena B. Villanueva (rightmost), and First Vice President Lina K. Pacio (leftmost), with LBRDC Director Lourdes Candy R. Darimbang (3rd from left), and other local partners. CAGAYAN DE ORO CITY, Misamis Oriental – LANDBANK continues to elevate and redefine banking with the inauguration of its ‘phygital’ branch, highlighting the Bank’s commitment to delivering a more modern, convenient, and delightful customer experience. The LANDBANK Masterson Phygital Branch features a refreshed look and a blend of high-touch and high-tech banking, that provide an efficient fusion of physical and digital services to clients. LANDBANK President and CEO Lynette V. Ortiz led the inauguration of the Masterson Phygital Branch located at the Misamis Oriental Corporate Center, Block 62, Lot 1, Xavier Estates Commercial Area, Masterson Avenue, Upper Balulang, Cagayan de Oro City (CDO) on 12 December 2024. “The LANDBANK Masterson Phygital Branch blends the warmth and reliability of traditional banking with the agility and convenience of digital innovation. This inauguration is in step with reimagining the LANDBANK banking experience, ensuring that financial services are more accessible and aligned with the evolving needs of our customers,” said LANDBANK President and CEO Lynette V. Ortiz. The LANDBANK Masterson Phygital Branch features self-service machines such as ATMs and Cash Deposit Machines that allow clients to perform transactions quickly with options for card, cardless, and biometric authentication. The Branch is also equipped with the LANDBANK Easy Access (LEA) system, which is an enhanced queuing management system that eliminates the need for filling out forms. It likewise has the LANDBANK Digital Online Banking System (DOBS) which streamlines account opening for a hassle-free start to financial management. The Masterson Phygital Branch also has an explore zone with meeting pods to provide clients with personalized assistance and opportunity to learn about LANDBANK’s wide range of products and services tailored to meet their financial goals. Following the Masterson Phygital Branch, LANDBANK is soon to launch two other phygital branches in Amlan, Negros Oriental and in Makati City in Manila. The branch also complements the operations of eleven other LANDBANK branches and branch-lite units in Balingasag, Puerto, Gingoog, Velez, Capistrano, Limketkai, Carmen, CDO Centro, CDO Cogon, and El Salvador City, including the Claveria Agri-Hub. LANDBANK remains steadfast in its commitment to provide clients with enhanced and personalized services—ensuring a banking experience that’s convenient, efficient, and focused on customer needs, empowering Filipinos to reach their financial goals. 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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