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Statement on the vehicular accident involving the LANDBANK EDSA Congressional Branch
The LANDBANK EDSA Congressional Branch will temporarily be closed due to a vehicular accident on Wednesday, March 17, 2021, until further notice. At around 7:30AM, a sport utility vehicle (SUV), driven by a Bank client who withdrew cash from the ATM of the Branch, accidentally accelerated the engine of her vehicle and sped directly inside the premises of the LANDBANK EDSA Congressional Branch in Quezon City. The accident resulted to two (2) Bank employees sustaining minor injuries, who were rushed to the nearest hospital for immediate medical treatment. Meanwhile, the driver was unharmed. Bank facilities were also damaged, warranting a temporary closure. As the incident happened before the start of banking hours, there were no clients at the Branch at that time except for employees who were preparing for work. The incident is already being investigated by the Quezon City Traffic Management Division. For the meantime, clients and account holders of the Branch can visit the following nearest alternative branches for their transactions: Elliptical Road Branch: DA-BSWM Compound, Elliptical Rd., Quezon City West Avenue Branch: No. 47, Ground Floor, Brgy. Paltok, West Avenue, Quezon City North Avenue Branch: Sugar Regulatory Administration Building, North Avenue, Diliman, Quezon City Caloocan Branch: #151 Samson Road, Caloocan City, Metro Manila We assure the public and the clients of EDSA Congressional Branch that LANDBANK will continue to serve and respond to their banking needs.
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LANDBANK opens P15-B loan window to boost pork supply
To support the local hog industry amid threats from the African Swine Fever outbreak, the Land Bank of the Philippines (LANDBANK) has launched a new lending program to assist hog raisers in sustaining and increasing pork production. During the program launch and signing of a Memorandum of Agreement (MOA) between LANDBANK and the Department of Agriculture (DA) at the DA-Bureau of Soils and Water Management (BSWM) Convention Hall in Quezon City on March 17, 2021, the state-run bank said it has earmarked P15 billion for the SWINE (Special Window and Interim Support to Nurture Hog Enterprises) Lending Program. The LANDBANK SWINE Lending Program will be available for commercial hog raisers registered as cooperatives or farmers’ associations, small and medium enterprises (SMEs), and large enterprises or corporations. “LANDBANK is supporting the Department of Agriculture by extending financing support to hog enterprises to sustain their operations and pork supply during this difficult time. Through the LANDBANK SWINE Lending Program, we aim to respond to the recovery requirements of our hog industry and contribute to ensuring food security,” said LANDBANK President and CEO Cecilia C. Borromeo. Loans under the LANDBANK SWINE Lending Program shall be used for swine production, which includes the acquisition or importation of semen or breeding animals; feed milling operations; the construction, improvement or retrofitting of necessary facilities that are compliant to biosecurity protocols of DA, the industry or integrators; acquisition of fixed assets; and as working capital. Eligible borrowers may avail of a short-term loan line or a term loan for up to 80% of their total project cost or financing requirement, with an affordable fixed interest rate of 3% per annum for three (3) years, subject to annual repricing thereafter. Under the Program, short-term loans have a tenor of one (1) year, term loan for permanent working capital is payable up to five (5) years, while fixed asset acquisition is payable based on the cash flow or payback period of the project, with grace period on the principal and interest. Agriculture Secretary William D. Dar and LANDBANK President Borromeo led the MOA signing to formalize the joint implementation of the SWINE Lending Program. Witnesses from DA included Undersecretary for Livestock William C. Medrano, Undersecretary for Operations Ariel T. Cayanan, Bureau of Animal Industry (BAI) OIC-Director Reildrin G. Morales, and National Livestock Program (NLP) and Agricultural Training Institute-International Training Center on Pig Husbandry (ATI- ITCPH) Director Ruth S. Miclat-Sonaco, together with LANDBANK Agricultural and Development Lending Sector Officer-In-Charge, Senior Vice President Ma. Celeste A. Burgos. Under the agreement, DA will provide the list of eligible program borrowers and assist them in the preparation of a business plan, enrollment in the Philippine Crop Insurance Corporation (PCIC), and in securing necessary permits. The DA will also provide loan recipients trainings on biosecurity management and breeding or rearing of hogs, while engaging the services of different organizations in capability building and implementation of biosecurity protocols. LANDBANK, for its part, will accept and evaluate loan applications of eligible borrowers and facilitate the release of loan proceeds. The Bank will also monitor the performance of the Program and provide monthly reports to DA. The DA and LANDBANK will work together to promote the Program through the conduct of focus group discussions and dissemination of educational materials. The LANDBANK SWINE Lending Program will be available until December 31, 2026 in line with the Department of Agriculture’s hog re-population plan. Last February, the Bank earmarked P2 billion for its new credit offering for the fisheries sector under the LANDBANK Commercial Fishing Vessel Financing Program, aimed at assisting existing and prospective commercial fishing operators in acquiring fishing vessels for domestic or overseas use. For more information about these and other Lending Programs of the Bank, interested borrowers may contact the nearest open LANDBANK Lending Center or Branch nationwide, or call LANDBANK’s customer service hotline at (02) 8-405-7000 or at PLDT Domestic Toll Free 1-800-10-405-7000. For more updates, please Follow, Like and Share the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), and join our Viber community (@LANDBANK), or visit the LANDBANK website (www.landbank.com).
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Virginia Farms grows pork production thru LANDBANK
Virginia Farms Inc. in Cebu has significantly expanded its swine business operations in the last eight years backed by various loans provided by the Land Bank of the Philippines (LANDBANK). The 52-year-old company currently operates a 360-hectare farm and a pork retail chain with 51 outlets. MANDAUE CITY, Cebu – From a humble backyard venture that started in 1968, Cebu-based Virginia Farms Inc. (VFI) is now regarded as the oldest and largest integrated farm-to-pork business in Central Visayas. With its 360-hectare farm in the town of Asturias and a pork retail chain with 51 outlets, VFI has been helping address the meat requirements in Luzon since last year as pork growers there have been largely affected by the African Swine Fever (ASF) outbreak. The company was able to ship a total of 10,760 hogs last year and continues to ship frozen carcasses weekly to the region. The growth of VFI, specifically in the last eight (8) years, has been supported by the Land Bank of the Philippines (LANDBANK) through its Cebu North Lending Center, which financed the expansion of the company’s business operations and the construction of modern facilities. VFI President Rolando E. Tambago is optimistic that recent investments will allow the company to continue supplying Luzon with ASF-free pork. “With the current situation of the pork industry, there’s a good opportunity for us here in the Visayas to expand and meet the gap of pork supply in other areas. I hope that LANDBANK will continue to support us in our plans to expand and grow our business further, as we envision to be a major supplier of quality pork in the Philippines,” said Mr. Tambago. In 2013, VFI first availed of a term loan from LANDBANK to finance the construction of piggery buildings in its site in Asturias. The loan was also used to purchase refrigeration equipment for its pork retail chain, The Pork Shop. As the company decided to expand its piggery operations, it availed of another term loan from the Bank in 2014 to develop additional piggery houses and acquire boars and gilts to improve its genetic stock. With its growing operations expanding rapidly and retail branches opening one after another, VFI once again turned to LANDBANK in 2015 and in 2018 to finance the development of meat cutting and slaughterhouse facilities. Established in 2016, the meat cutting facility can process up to 1,000 hogs daily. Meanwhile, the modern slaughterhouse, which was inaugurated in 2019, can accommodate up to 1,000 heads per day at a processing rate of 100 heads per hour. VFI also availed of a short term loan from LANDBANK in 2020 as a working capital for the expansion of The Pork Shop. Since its inception in 2008, this retail business has grown significantly, with outlets now spread across Cebu, Iloilo, and Biliran. "LANDBANK remains steadfast in supporting the agriculture sector, including the recovery of our local swine industry. We will continue to extend credit assistance to hog raisers as we contribute to ensuring food security in the country," said LANDBANK President and CEO Cecilia C. Borromeo. As of end-2020, LANDBANK has extended a total of P237.62 billion in outstanding loans to the agriculture sector, with P142.75 billion representing loans to small, medium, and large agribusiness enterprises. In terms of economic activity, P37.48 billion out of the Bank’s total agriculture loan portfolio financed livestock projects, which includes P16.86 billion for the piggery industry. For more updates, please Follow, Like and Share the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), and join our Viber community (@LANDBANK), or visit the LANDBANK website (www.landbank.com).
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LANDBANK student loan covers gadget purchase for distance learning
State-run Land Bank of the Philippines (LANDBANK) has expanded the coverage of its direct loan program for students to cover the purchase of electronic gadgets needed for online learning. Under the enhanced I-STUDY (Interim Students’ Loan for Tuitions towards Upliftment of Education for the Development of the Youth) Lending Program, LANDBANK is now offering a loan of up to P50,000 per student to finance the purchase of learning gadgets such as laptop, desktop or tablet, that can be included in the maximum loanable amount of P150,000 per student or P300,000 per parent-borrower to cover payment for tuition or enrolment-related fees. Furthermore, students of legal age are now eligible to apply for the LANDBANK I-STUDY Program if they meet eligibility requirements. When the loan program was initially launched last year, only parents and guardians or benefactors of students could apply for the financial assistance. “LANDBANK recognizes the need to support students in adapting to distance learning modalities. While we await the resumption of in-person classes, we hope that the I-STUDY Program can help students cover the financial requirements to purchase needed learning equipment and participate in online classes,” said LANDBANK President and CEO Cecilia C. Borromeo. The LANDBANK move to expand the I-STUDY credit facility comes at the heels of recent government pronouncements for the continued implementation of distance learning as a measure against the spread of COVID-19. The enhancement of the I-STUDY Program also includes the increase in maximum age eligibility of students from 30 years old to 50 years old; inclusion of scholar students whose scholarships do not fully cover their tuition fees; and the coverage of non-scholar students from private pre-school, primary and secondary schools. Meanwhile, LANDBANK has approved as of February 16, 2021 loans amounting to P531.5 million to 16 educational institutions through the ACADEME (ACcess to Academic Development to Empower the Masses towards Endless Opportunities) Lending Program. The Program aims to boost the capacity of private academic institutions to implement a ‘study now, pay later’ scheme for its students. The ACADEME Lending Program forms part of the Bank’s support to the education sector which offers credit to private and non-DepEd high schools, private Technical-Vocational and Education Training (TVET) institutions, and private Higher Education Institutions (HEls) such as colleges and universities to provide continuing education to their students. The program offers the ‘3-3-3’ feature, with a P3-billion-program fund in credit support, a very low fixed interest rate of only 3% per annum, and payable based on the maturity of the sub-promissory notes but not to exceed three (3) years. For more details about the features and application requirements of the I-STUDY and ACADEME lending programs, contact the LANDBANK Programs Management Department II at (02) 8405-7198. For more information about LANDBANK’s other loan products, clients may visit the Bank’s official website (www.landbank.com), or follow the Bank’s official social media channels at @landbankofficial on Facebook and Instagram, @LBP_Official on Twitter, and @LANDBANK on Viber.
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LANDBANK lends P6.95B to MSMEs, co-ops for COVID-19 relief
The Land Bank of the Philippines (LANDBANK) has approved loans totaling P6.95 billion for 227 borrowers composed mostly of micro, small and medium enterprises (MSMEs) and cooperatives that are affected by the impact of the COVID-19 pandemic. Under the I-RESCUE (Interim REhabilitation Support to Cushion Unfavorably affected Enterprises by Covid-19) Lending Program, LANDBANK has released P5.28 billion of the total P6.95 billion for the benefit of 208 borrowers, composed of 167 MSMEs, 34 cooperatives, four (4) microfinance institutions (MFIs), and three (3) large corporations as of end-January 2021. Launched in April 2020 at the height of strict quarantine lockdowns, the I-RESCUE Lending Program was designed in support of Republic Act 11494 or the “Bayanihan to Recover as One Act (Bayanihan 2)” to provide credit and loan restructuring under more flexible terms and conditions to MSMEs, MFIs, and cooperatives. LANDBANK recently expanded the coverage of the Program to allow more borrowers affected by the pandemic to avail of credit and loan restructuring assistance. The I-RESCUE Lending Program now allows micro enterprises and large corporations to borrow a maximum of 85% of their emergency or permanent working capital requirement. Terms are set at an affordable interest rate of 5% per annum for three (3) years, subject to annual re-pricing thereafter, and payable up to 10 years with a maximum of two (2) years grace period on the principal repayment. Moreover, LANDBANK is currently working on expanding the I-RESCUE Program further to offer a new sub-credit facility for MSMEs, cooperatives, and self-employed individuals severely affected by the health crisis. Qualified borrowers may soon be able to borrow a minimum amount of P100,000 or up to 85% of their actual permanent working capital requirement, at a lower fixed interest rate of 3% per annum only, payable up to three (3) years. “We are enhancing the I-RESCUE Lending Program to cover a wider range of key industries that need greater access to credit. LANDBANK is keeping in step with emerging requirements under the new normal in support of the country’s ongoing economic recovery,” said LANDBANK President and CEO Cecilia C. Borromeo. Existing LANDBANK clients may also avail of loan restructuring via additional loan and extended repayment period or combination of means to rehabilitate and restore operational cash flow. The LANDBANK I-RESCUE Lending Program is available until December 31, 2022. Interested borrowers may contact the nearest open LANDBANK Lending Center or Branch nationwide or call LANDBANK’s customer service hotline at (02) 8-405-7000 or at PLDT Domestic Toll Free 1-800-10-405-7000. For more updates, please Follow, Like and Share the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), and join our Viber community (@LANDBANK), or visit the LANDBANK website (www.landbank.com).
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LANDBANK opens first offsite ATM and CDM Center in Mindanao
DAMULOG, Bukidnon – Damulog Mayor Melino L. Buro (7th from left) and Land Bank of the Philippines (LANDBANK) Don Carlos Branch Head Grace C. De Leon (6th from left) lead the official inauguration of the first-ever LANDBANK offsite ATM and Cash Deposit Machine (CDM) Center in Mindanao on December 18, 2020. The ATM and CDM Center aims to further strengthen LANDBANK’s presence in this unbanked and underserved municipality by offering access to innovative and convenient banking services. The LANDBANK Center will cater to communities in the southern part of Bukidnon and North Cotabato areas, as well as other municipalities under the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM). The ATM and CDM Center was established through the support of the local government unit (LGU) which constructed the building that houses the terminals and provided free use of the space and utility provision for the next 20 years. As of February 15, 2021, LANDBANK has a total of 2,316 ATMs and 168 CDMs nationwide. For more updates, please Follow, Like and Share the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), and join our Viber community (@LANDBANK), or visit the LANDBANK website (www.landbank.com).
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LANDBANK backs LGUs with P62.32-B for COVID-19 recovery
The Land Bank of the Philippines (LANDBANK) approved loans totaling P62.32 billion for 194 local government units (LGUs) nationwide under its RISE-UP LGUs (Restoration and Invigoration package for a Self-Sufficient Economy towards UPgrowth for LGUs) Lending Program. Of this amount, P1.89 billion has been released to 32 LGUs as of February 2, 2021. The RISE UP LGUs Program aims to provide the necessary funding requirements of provincial, city, and municipal LGUs to revive their local economy and recover from the adverse impact of the COVID-19 pandemic. The Program was launched in July 2020 in partnership with the Union of Local Authorities of the Philippines (ULAP), with the participation of the Leagues of LGUs, namely the League of Provinces of the Philippines (LPP), League of Cities of the Philippines (LCP), and League of Municipalities of the Philippines (LMP). Since then, the Program has gained wide acceptance by LGUs that the state-run bank has increased its fund allocation from the initial P10 billion to P80 billion to accommodate the rising number of loan applications. Through the RISE-UP LGUs Lending Program, LANDBANK finances COVID-19 response and recovery interventions, including but not limited to the purchase of agricultural produce, acquisition of equipment and construction of facilities for linking of products to the market, and other programs and projects of the LGU that provide basic and support services, social welfare, healthcare, and other infrastructure activities. “LANDBANK recognizes the crucial role of LGUs in the whole-of-nation approach to recover from the economic downturn caused by the pandemic. We are fully committed to finance local development projects toward generating jobs and jumpstarting the local economy,” said LANDBANK President and CEO Cecilia C. Borromeo. Interest rate subsidy The National Government, through Republic Act No. 11494 or the “Bayanihan to Recover as One Act”, is providing P1 billion in Interest Subsidy Fund (ISF) for LGU loans obtained from LANDBANK, which may be availed until December 31, 2022, unless otherwise earlier depleted. The interest subsidy is subject to a maximum limit of 2% per annum of the approved loan amount or P10 million per province and city, and P5 million per municipality, whichever is lower. Applying the interest subsidy to the RISE UP LGUs Lending Program, outstanding and succeeding loan releases to LGUs until December 31, 2022 or the depletion of the ISF, whichever comes earlier, will be subject to a fixed interest of 4% per annum inclusive of the 2% per annum subsidy from the National Government. Thereafter, the interest shall remain to apply but without any subsidy from the National Government. LANDBANK is therefore encouraging LGUs to promptly draw on their approved and enrolled loans under the RISE UP LGUs Lending Program and take advantage of the interest subsidy. Interested LGUs may contact the nearest open LANDBANK Lending Center or Branch nationwide, or call LANDBANK’s customer service at (02) 8-405-7000 or at PLDT Domestic Toll Free 1-800-10-405-7000. For more updates, please Follow, Like and Share the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), and join our Viber community (@LANDBANK), or visit the LANDBANK website (www.landbank.com).
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LANDBANK to expand branch, ATM networks in 2021
To further boost its reach and better serve the banking needs of clients across the country, the Land Bank of the Philippines (LANDBANK) is set to open 23 new branches and branch-lite units and deploy an additional 190 ATMs this year. As of February 15, 2021, LANDBANK has the third-largest ATM network in the country among local banks with 2,316 ATMs, which serve 410 municipalities that are classified as unbanked. LANDBANK is also the only bank present in all 81 provinces nationwide. The 23 additional LANDBANK touchpoints in the pipeline this year are composed of 16 branches and branch-lites, five (5) Agri-Hubs, and two (2) mobile branches. This will grow LANDBANK’s branch network to 500 branches and branch-lite units nationwide by year end. The additional five (5) Agri-Hubs programmed for the year will raise the total to ten (10) nationwide and will help the Bank reach more farmers and fishers. Located in top rice-producing provinces, LANDBANK Agri-Hubs feature a hybrid of different banking and lending functions to respond to the developing needs of stakeholders in the agriculture sector. The two (2) new mobile branches will provide uninterrupted banking services in areas hit by calamities and other unexpected events. One (1) LANDBANK mobile branch will support the San Pablo Branch in Laguna to cover affected areas in Luzon, while the other will support the Bajada Branch in Davao del Sur for areas in Mindanao. LANDBANK will also install 190 new ATMs nationwide—which include 10 mobile ATMs—to provide safe and timely cash withdrawals for Bank clients, notably government personnel, pensioners, and Pantawid Pamilyang Pilipino Program (4Ps) beneficiaries. LANDBANK’s total ATM network will exceed 2,500 by the end of 2021. The Bank is also gearing up to open two (2) new lending centers for a total of 57 by year end, designed to provide affordable credit assistance to small farmers and fishers, agrarian reform beneficiaries (ARBs), small and medium enterprises (SMEs), and local government units (LGUs), among others. “LANDBANK remains aggressive in expanding its extensive network to serve more clients and meet emerging needs. While the usage of our e-banking channels continue to rise under the new normal, our branches and other physical touchpoints remain equally important in servicing our clients, especially those in the countryside,” said LANDBANK President and CEO Cecilia C. Borromeo. Free online fund transfers until March 2021 To provide relief to LANDBANK account holders and encourage online transactions amid the ongoing pandemic, LANDBANK continues to waive fees for online inter-bank fund transfers via instaPay and PESONet until March 31, 2021 when using the LANDBANK Mobile App and iAccess. From March 18 to December 31, 2020, the Bank has waived fund transfer fees amounting to P50.32 billion for 9,353,938 online transactions, representing forgone income for the Bank totaling P223 million. LANDBANK’s digital financial services saw increased demand in 2020, as transactions facilitated through its six (6) major electronic channels increased by 21% in volume and 36% in value from 2019. The LANDBANK Mobile Banking App recorded the highest volume of transactions of 71.9 million amounting to P85.12 billion. For more updates, please Follow, Like and Share the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), and join our Viber community (@LANDBANK), or visit the LANDBANK website (www.landbank.com).
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LANDBANK casts P2-B credit line for fishing boat purchase
In line with supporting the fisheries sector, Land Bank of the Philippines (LANDBANK) is offering a new credit facility to assist existing and prospective commercial fishing operators in acquiring fishing vessels for domestic or overseas use. Under the P2-Billion LANDBANK Commercial Fishing Vessel Financing Program, eligible borrowers may loan up to 80% of the acquisition cost to purchase a brand-new, second-hand or refurbished commercial fishing boat and related equipment for their business. "LANDBANK remains steadfast in supporting the fisheries sector. We are looking to cover the requirements for fishing vessels to assist more fishers in boosting their production and profit, and contribute to ensuring food security in the country,” LANDBANK President and CEO Cecilia C. Borromeo said. Eligible Program borrowers include commercial fishing operators from small and medium enterprises, cooperatives, and large enterprises. LANDBANK will provide readily available and affordable credit at an interest rate of 5% per annum for three years, subject to re-pricing thereafter, payable up to 10 years. Commercial fishing vessels refer to fishing boats, ships or watercrafts with gross tonnage (GT) of 3.1 and up. Object of financing must be in accordance with Maritime Industry Authority (MARINA) standards as supported by a MARINA Certificate of Ship Registry. In addition, the boat to be financed should be in seaworthy condition, properly equipped with life-saving, communication, safety and other equipment, and operated and maintained in accordance with the standards set by MARINA. For more information about LANDBANK’s Lending Programs, interested borrowers may contact the nearest open LANDBANK Lending Center or Branch nationwide, or call LANDBANK’s customer service hotline at (02) 8-405-7000 or at PLDT Domestic Toll Free 1-800-10-405-7000.
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LANDBANK records 16% hike in assets to P2.362T
Deposits breached the P2-trillion mark which allowed state-run Land Bank of the Philippines (LANDBANK) to record a 16.1% increase in total assets of P2.362 trillion in 2020 from its 2019 level of P2.033 trillion. LANDBANK said deposits expanded to P2.093 trillion, 17.4% higher from P1.783 trillion in 2019. This also fueled a significant 41.4% growth in investments from P694.9 billion to P982.5 billion. “LANDBANK posted marked growth in assets and deposits in 2020—a record achievement given the widespread economic impact of the health crisis. We will build on these gains and continue along this path to better serve our priority sectors, especially small farmers and fishers, micro, small and medium enterprises and other key development players,” said LANDBANK President and CEO Cecilia C. Borromeo. Reduced economic activities brought about by the COVID-19 pandemic, however, caused a 7% drop in net income to P17.1 billion from P18.5 billion in 2019. Meanwhile, year-end capital increased by 13% to P168.3 billion from P149.0 billion in 2019. The Bank’s financial ratios also remained strong despite the challenges set by the pandemic. LANDBANK posted a return on equity of 10.80%, which is well above the latest industry average. Return on assets stood at 0.78% and net interest margin at 3.16%. Common Equity Tier 1 ratio continued its steady growth year-on-year from 12.74% to 15.17%. With the Bank’s increased focus on supporting the country’s agriculture sector, LANDBANK’s total loan portfolio to farming and fishing industries expanded from P236.31 billion in 2019 to P237.62 billion in 2020. Of this amount, P43.98 billion benefitted small farmers and fishers, cooperatives and farmers’ associations, rural financial institutions, and other conduits. LANDBANK has also assisted cumulatively 2.67 million farmers and fishers nationwide as of end-2020, or a 133.5-percent accomplishment rate over the full-year target of two (2) million. Of this total, 718,875 small farmers were assisted through the Rice Farmers Financial Assistance (RFFA) and Financial Subsidy to Rice Farmers (FSRF) Programs jointly implemented with the Department of Agriculture (DA). In line with the Bank’s sustained drive for financial inclusion, LANDBANK is present in all 81 provinces of the country through 411 branches, 66 branch-lite units, and 55 lending centers. LANDBANK continues to respond to the growing demand for safe, accessible and convenient digital banking solutions under the new normal. The Bank reported that transactions facilitated through its six major electronic channels—the LANDBANK Mobile Banking App, Link.Biz Portal, weAccess, iAccess, Electronic Modified Disbursement System (eMDS), and Remittance System—collectively recorded a 21% increase in volume and a 36% growth in value in 2020. The Bank recently announced that the waiver on inter-bank fund transfer fees will remain until March 31, 2021. First implemented at the height of community lockdowns and previously extended until December 2020, the waiver covers retail clients who transfer funds through LANDBANK’s online banking channels via InstaPay and PESONet. For more updates, please Follow, Like and Share the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), and join our Viber community (@LANDBANK), or visit the LANDBANK website (www.landbank.com).
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Mahinog LGU, LANDBANK tie-up for dev’t projects
Mahinog Mayor Rogerio C. Acle (left) and LANDBANK Camiguin Branch Manager Adrian Lloyd O. Tan (right) sign five (5) loan agreements to finance the local government’s construction and improvement of infrastructure projects, and the purchase of two units of heavy equipment. MAHINOG, Camiguin – Endowed with rich agricultural land and alluring natural attractions, this 5th class municipality in northern Mindanao has great potential for growth. But due to limited financial resources, the municipal government is challenged to pursue high-impact projects that will boost its local economy. This year, some of the town’s development projects under its Comprehensive Development Plan (CDP) are expected to materialize with the recent signing of a loan agreement comprising five (5) term loans for a maximum total of P50.3 million between the local government and Land Bank of the Philippines (LANDBANK). Mahinog Mayor Rogerio C. Acle and LANDBANK Camiguin Branch Manager Adrian Lloyd O. Tan led the loan signing last November 26, 2020, together with other local government officials. “May mga dreams ako for my municipality na gustong matupad katulad na lang ng pagpapatayo ng mga infrastructure projects. Ang problema ay hindi namin ma-pursue dahil limited ang resources, specifically sa budget. Kaya noong nalaman ko na pwedeng mangutang sa government bank gaya ng LANDBANK, nagpursige kaming kumpletuhin ang mga requirements,” Mahinog Mayor Acle said. The loan will help the local government unit (LGU) of Mahinog acquire a brand new 10-wheeler dump truck and an excavator with breaker. These will be used to maintain various roads and other infrastructure across the town to ensure easy access and timely transport of goods from farms to the market, and to reduce transportation costs for local farmers. A separate term loan shall finance the construction of a two-storey commercial building with a total floor area of 1,291 square meters. The building, which will be divided into various spaces and offered for lease to small and medium enterprises and traders, is expected to promote commercial activities and attract investments to the town. Another term loan is allocated for the completion of the town’s unfinished Queobe Training Center. The loan will help finish the construction of the center’s training hall, convert the existing mini-training hall into rooms, and expand the dormitory to accommodate more training participants. A portion of the loan will also be used to acquire furniture, fixtures, kitchen equipment and other related paraphernalia needed in the training center. Adjacent to the municipality’s Queobe Training Center is the Katunggan Park, an eco-park with existing boardwalk and picnic sheds for tourists and trainees. Through one of the term loans from LANDBANK, the local government is targeting to complete this year the construction of a 104-square-meter canteen building and a 48-square-meter picnic shed within the park. Finally, LANDBANK also granted the Mahinog LGU a term loan for the land development of the proposed Benoni Public Market and Transport Terminal. This involves filling up the remaining 3,700 square meters of the one-hectare area with embankment so that a transport terminal and a public market building can be built in the future. The project aims to decongest the national highway fronting the Benoni Port, which is the gateway to the entire island of Camiguin. “LANDBANK continues to extend necessary credit assistance to local government units for small- to large-scale development projects. We believe that through these initiatives, we can multiply efforts in spurring local economic activity and growth, especially in the countryside,” said LANDBANK President and CEO Cecilia C. Borromeo. As of December 31, 2020, LANDBANK has extended P54.47 billion in outstanding loans to LGUs nationwide. This includes P19.86 billion for agri-aqua projects, as well as P5.89 billion and P5.34 billion for transportation and health care projects, respectively.
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Navotas City, LANDBANK team up for online tax payment service
The City of Navotas is partnering with Land Bank of the Philippines (LANDBANK) in addressing the needs of its constituents for a safe and efficient online payment facility to settle government fees, amid mobility limitations and health concerns due to the pandemic. Navotas City Mayor Toby Tiangco, Navotas City Congressman John Ray Tiangco, and LANDBANK Branch Banking Sector Head, Executive Vice President Julio D. Climaco, Jr. led the virtual signing of a Memorandum of Agreement (MOA) last February 9, 2021 to activate the payment facility. Through the LANDBANK Link.BizPortal, Navoteños will be able to conveniently pay Real Property Taxes, business taxes, and other government commitments to the Local Government Unit (LGU) of Navotas City online—anytime, anywhere. Mayor Tiangco said this partnership with LANDBANK will usher greater convenience and safety in the payment and collection of taxes that will significantly benefit both the public and city hall. “This online payment facility is very important for us because we want to make our services safer, more convenient, and more transparent for the residents of the City of Navotas and I’m glad that LANDBANK is with us in achieving this goal,” Mayor Tiangco said. Under the MOA, the LANDBANK Link.BizPortal shall be made accessible to the constituents of Navotas City for payment of fees that are assessed online or manually by LGU personnel. As a partner-merchant, Navotas City will be able to access the Portal’s Merchant Payment Inquiry module which allows the tracking of collections per day in real-time. The partnership also marks the addition of the Navotas LGU to the LinkBiz.Portal’s growing list of 768 partner-merchants nationwide from both public and private sectors. “We are continuously collaborating with government and private partners to make digital financial solutions accessible to more clients in the new normal. LANDBANK’s e-banking services facilitate safe, secure, and efficient online financial transactions that have become paramount during this ongoing health crisis,” said LANDBANK President and CEO Cecilia C. Borromeo. As of end-December 2020, transactions facilitated through the Bank’s six major electronic channels grew by 21% in volume and 36% in amount from the same period in 2019. For the Link.BizPortal alone, 2.12 million transactions were facilitated with a total value of P7.95 billion which represent increases of 35% and 71%, respectively. The Link.BizPortal is LANDBANK’s electronic payment facility that allows individual and institutional clients from both the government and private sectors to pay for products and services via the internet. For more information about LANDBANK’s e-banking services, clients may visit the Bank’s official website (www.landbank.com), or follow the Bank’s official social media channels at @landbankofficial on Facebook and Instagram, @LBP_Official on Twitter, and @LANDBANK on Viber.
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