Pangasinan Governor Ramon V. Guico III (3rd from left) and LANDBANK President and CEO Lynette V. Ortiz (4th from left) lead the signing of a P4.3 billion sub-loan agreement to finance the Pangasinan LGU’s various development projects on 25 October 2023 at the LANDBANK Plaza in Malate, Manila. They are joined by Vice Governor Mark Ronald DG. Lambino (2nd from left), Provincial Administrator Melicio F. Patague II (leftmost), and LANDBANK Senior Vice Presidents Ma. Celeste A. Burgos (5th from left) and Filipina B. Monje (rightmost).
MALATE, Manila – The Land Bank of the Philippines (LANDBANK) greenlighted a P4.3 billion loan to the Provincial Government of Pangasinan, geared towards the improved delivery of public, health and tourism services in the Province.
The loan is part of the P6 billion omnibus term loan agreement signed by the LGU and the state-run Bank earlier this year to fund the priority development projects in Pangasinan.
The signing of the agreement was led by Pangasinan Governor Ramon V. Guico III and LANDBANK President and CEO Lynette V. Ortiz on 25 October 2023 at LANDBANK Plaza in Malate, Manila.
They were joined by Vice Governor Mark Ronald DG. Lambino, Provincial Administrator Melicio F. Patague II, Acting Provincial Treasurer Cristy C. Ubando, Provincial Legal Officer Atty. Baby Ruth F. Torre and Provincial Accountant Atty. Marlon C. Operaña, along with LANDBANK Senior Vice Presidents Ma. Celeste A. Burgos and Filipina B. Monje.
“LANDBANK remains committed to supporting Pangasinan’s transformative journey towards a more inclusive and sustainable local economy through our wide array of support services. We look to expedite progress within the Province for the improved delivery of basic and medical services, increased socio-economic activities, and a more robust local tourism sector,” said President Ortiz.
Of the P4.3 billion loan, P1.8 billion is earmarked for the construction of an 11-storey government center in the Municipality of Lingayen, designed to house the offices of the Provincial Government and national government agencies. Another P500 million is allocated for the development of the Provincial Capitol Complex.
To provide better health care for Pangasinenses, P758 million will be used for the purchase of advanced hospital equipment, including computed tomography (CT) scanners, x-ray, magnetic resonance imaging (MRI), and ultrasound machines for the Pangasinan Provincial Hospital, six (6) district hospitals and seven (7) community hospitals in the Province.
Meanwhile, P700 million is set to fund the acquisition of land and construction of support facilities for the Bolinao airport in Bolinao, Pangasinan.
The remaining P500 million will help establish a corporate center for businesses and other commercial spaces to help stimulate local economic activity.
“We’re rolling out and implementing impactful projects that will boost the economy and improve the lives of our people. We are thankful for our partners like LANDBANK, who are ready to support us as we invest in the future of Pangasinan,” said Governor Guico III.
LANDBANK remains a major development partner of the local government sector, supporting the financing requirements for inclusive local development in line with its broader thrust of serving the nation.
LANDBANK welcomes RCEF extension until 2031
LANDBANK welcomed the recent passage of Republic Act No. 11954 as amendment to the Rice Tariffication Law (RTL), and expressed full support for the extension of the Rice Competitiveness Enhancement Fund (RCEF) for another seven years, aimed to accelerate modernization in the rice sector and strengthen the resilience and productivity of Filipino rice farmers. As one of the implementers of RCEF in partnership with Department of Agriculture (DA), LANDBANK delivers credit assistance at low-interest rates with simplified processes to ensure accessibility for individual rice farmers and cooperatives in major rice producing provinces. Under the Expanded Rice Credit Assistance of the Rice Competitiveness Enhancement Fund (ERCA-RCEF), LANDBANK has extended P2.89 billion in loans to support rice production and post-harvest activities from 2019 to 2024. LANDBANK’s loans have benefitted 17,767 individual rice farmers and 270 cooperatives with more than 47,100 member-beneficiaries, which were channeled for palay production, milling and trading, re-lending, and the acquisition of farm machineries. Notably, 98% of LANDBANK’s direct borrowers under the program are individual rice farmers. “LANDBANK fully supports the RCEF extension towards strengthening our collective efforts to empowering Filipino rice farmers and boosting agricultural competitiveness. This significant step will bolster food security and sustainability, and the Bank stands ready to continue its active role in supporting this initiative,” said LANDBANK President and CEO Lynette V. Ortiz. LANDBANK has remained faithful to its social mandate of promoting inclusive and sustainable development as the biggest credit provider to the agriculture sector servicing all components of the agriculture value chain. As of October 2024, the Bank has extended outstanding loans amounting to P769.68 billion in support of agriculture, fisheries and rural development under Republic Act No. 11901, otherwise known as “The Agriculture, Fisheries and Rural Development Financing Enhancement Act of 2022.” LANDBANK’s investments in promoting countryside development of P769.68 billion represents 55.5% of the Bank’s total P1.387 trillion gross loan portfolio. The Bank has also assisted a total of 3.93 million small farmers and fishers nationwide through loans and various support interventions. 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 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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