The Land Bank of the Philippines (LANDBANK) unveiled a new brand promise of ‘Serving the Nation,’ embodying its full commitment to assist various sectors of the economy and help contribute to the country’s collective recovery.
In a virtual launch held on March 28—streamed live on LANDBANK’s Facebook Page (@landbankofficial) and YouTube Channel (/landbankofficial)—LANDBANK highlighted its expanded and unique role in providing intensified support to the country’s agriculture sector alongside serving the requirements of key development industries.
“Through the years, LANDBANK has fully transformed into a development-oriented institution. Aside from being the biggest credit provider to the agri sector, LANDBANK is serving as a vital partner of the National Government in advancing its inclusive development agenda,” said LANDBANK President and CEO Cecilia C. Borromeo.
As of 31 December 2021, LANDBANK’s agricultural loans reached P247.85 billion assisting over 3.2 million small farmers and fishers nationwide through regular loan programs, including special lending programs administered for the Department of Agriculture (DA) and the Department of Agrarian Reform (DAR).
The Bank also extended P68.9 billion in outstanding loans to local government units (LGUs) as of end-December 2021—largely for agri-aqua projects, transportation, and healthcare initiatives—making LANDBANK the biggest development partner of the LGU sector in accelerating inclusive local development.
LANDBANK’s financial support over the years have resulted in the delivery of various basic services and infrastructure facilities across the country, including the construction and improvement of 23,825 kilometers of farm-to-market roads, 239 hospital buildings, 20,153 hospital beds, 788 school buildings, 6,146 classrooms, and access to potable water for more than 2 million households.
In partnership with different government agencies, LANDBANK also serves as the main distribution arm for the government’s social amelioration programs to vulnerable sectors severely affected by the COVID-19 pandemic, including the regular distribution of financial aid under the social protection programs of the Department of Social Welfare and Development (DSWD).
The Bank is also closely working with the Department of Transportation (DOTr) and the Land Transportation Franchising and Regulatory Board (LTFRB) for various transportation modernization initiatives. This includes the immediate delivery of P6,500 fuel subsidy to public utility vehicle (PUV) drivers challenged by the sudden rise in fuel prices under the Fuel Subsidy Program.
To advance greater financial inclusion in the country, LANDBANK continues to partner with the Philippine Statistics Authority (PSA) to provide unbanked Philippine Identification System (PhilSys) registrants with their own transaction accounts free-of-charge. LANDBANK has onboarded 7.2 million previously unbanked Filipinos as of end-2021.
Following the Bank’s recent merger with the former United Coconut Planters Bank (UCPB), LANDBANK further solidified its ranking as the second largest local bank in terms of assets, putting it in a better position to serve the whole agriculture sector and diverse customer base through its stronger financial muscle and extensive reach.
As of 08 March 2022, LANDBANK’s branch network has expanded to 607 branches and 71 branch-lite units nationwide—the only Bank present in all 81 provinces in the country.
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.
LEARN MORELLFC-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.
LEARN MORELANDBANK 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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