(1st row, left to right) DTI Secretary and CIAP Board Chairman Ramon M. Lopez, National Treasurer Rosalia V. de Leon, (2nd row, left to right) LANDBANK President and CEO Cecilia C. Borromeo, and PayMaya Philippines Founder and CEO Orlando B. Vea lead the virtual ceremonial signing of a quadripartite agreement on August 7, 2020 which mandates LANDBANK to facilitate the settlement of all CIAP’s online transactions, and the remittance of the payments to the Bureau of the Treasury (BTr).
The Land Bank of the Philippines has been designated as settlement bank for online transactions of the Department of Trade and Industry - Construction Industry Authority of the Philippines (DTI-CIAP).
LANDBANK will be working with DTI-CIAP, the Bureau of the Treasury (BTr), and PayMaya Philippines, Inc. to ensure the efficient settlement of online payments made by the DTI agency clients, and timely remittance of payments to the National Treasury.
Under the agreement, LANDBANK will maintain a “BTr-CIAP-PayMaya Clearing Account” wherein all collections or payments accepted and deposited by PayMaya, as a collecting agent, will be credited via the weAccess facility of the Bank. All funds credited to the clearing account are then automatically credited to the BTR-Other Agency Mother Account at the end of the day during batch processing.
The arrangement forms part of the quadripartite Memorandum of Agreement (MOA) signed by DTI Secretary and CIAP Board Chairman Ramon M. Lopez, National Treasurer Rosalia V. de Leon, LANDBANK President and CEO Cecilia C. Borromeo, and PayMaya Philippines Founder and CEO Orlando B. Vea on August 7, 2020.
Also present during the event were DTI Undersecretary Ireneo V. Vizmonte, DTI Assistant Secretary Mary Jean T. Pacheco, LANDBANK Branch Banking Sector Executive Vice President Julio D. Climaco, Jr., LANDBANK South NCR Branches Group Senior Vice President Ramon R. Monteloyola, and LANDBANK Buendia Branch Vice President Virgilio C. Paranial.
They were joined by Philippine Contractors Accreditation Board (PCAB) Chairman Pericles P. Dakay, PCAB Executive Director Atty. Herbert DG. Matienzo, Philippine Constructors Association President Wilfredo L. Decena, Philippine Domestic Construction Board and Philippine International Construction Board Executive Director Doris U. Gacho, United States Agency for International Development (USAID) Contracts Officer Representative Princess Shimmadar Manaois-Battung, and USAID Deliver Project Chief-of-Party Alexander Kitain.
“LANDBANK will ensure the efficient settlement of transactions and the remittance of payments to the National Treasury. Our expanded partnership represents another step towards our shared goal of providing convenient, reliable, and efficient payment options to our stakeholders,” LANDBANK President and CEO Borromeo said.
In 2018, LANDBANK and CIAP entered into an agreement for the utilization of the LANDBANK Link.BizPortal, which offers CIAP clients such as PCAB contractors, an alternative way to pay license and registration fees as well as other charges.
As of June 2020, Link.BizPortal has facilitated a total of 2,682 transactions for CIAP amounting to P15.32 million.
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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