Republic Act No. 6657 or the Comprehensive Agrarian Reform Law of 1988 instituted the Comprehensive Agrarian Reform Program (CARP) to promote social justice and industrialization, among others. LANDBANK was designated as the financial intermediary of the CARP with the duty to ensure that the social justice objectives of the CARP enjoy preference among its priorities. LANDBANK was vested with the primary responsibiliy to determine the land valuation and compensation for all lands covered under CARP. Agrarian operations cover the following:
READ MORELANDBANK is fully compliant with the provisions of the Code of Corporate Governance.
READ MOREIt is the policy of the State to protect its citizens from a lack of awareness of the true cost of credit to the user by assuring a full disclosure of such cost with a view of preventing the uninformed use of credit to the detriment of the national economy. DEFINITION OF TERMS (1) "Board" means the Monetary Board of the Central Bank of the Philippines (2) "Credit" means any loan, mortgage, deed of trust, advance, or discount; any conditional sales contract; any contract to sell, or sale or contract of sale of property or services, either for present or future delivery, under which part or all of the price is payable subsequent to the making of such sale or contract; any rental-purchase contract; any contract or arrangement for the hire, bailment, or leasing of property; any option, demand, lien, pledge, or other claim against, or for the delivery of, property or money; any purchase, or other acquisition of, or any credit upon the security of, any obligation of claim arising out of any of the foregoing; and any transaction or series of transactions having a similar purpose or effect (3) "Finance charge" includes interest, fees, service charges, discounts, and such other charges incident to the extension of credit as the Board may be regulation prescribe (4) "Creditor" means any person engaged in the business of extending credit (including any person who as a regular business practice make loans or sells or rents property or services on a time, credit, or installment basis, either as principal or as agent) who requires as an incident to the extension of credit, the payment of a finance charge (5) "Person" means any individual, corporation, partnership, association, or other organized group of persons, or the legal successor or representative of the foregoing, and includes the Philippine Government or any agency thereof, or any other government, or of any of its political subdivisions, or any agency of the foregoing As such, Any creditor shall furnish to each person to whom credit is extended, prior to the consummation of the transaction, a clear statement in writing setting forth, to the extent applicable and in accordance with rules and regulations prescribed by the Board, the following information: (1) the cash price or delivered price of the property or service to be acquired; (2) the amounts, if any, to be credited as down payment and/or trade-in; (3) the difference between the amounts set forth under clauses (1) and (2); (4) the charges, individually itemized, which are paid or to be paid by such person in connection with the transaction but which are not incident to the extension of credit; (5) the total amount to be financed; (6) the finance charge expressed in terms of pesos and centavos; and (7) the percentage that the finance bears to the total amount to be financed expressed as a simple annual rate on the outstanding unpaid balance of the obligation IMPORTANT NOTICE: The disclosure statement in writing is a required attachment to the credit transaction contract. The borrower has a right to demand a copy of the disclosure statement.
READ MOREIn this report, we present the highlights of the years 2016 and 2017 in terms of LANDBANK’s economic, social, and environmental performances based on our five sustainability cornerstones: Enterprise Development, Community Development, Environmental Protection and Management, Customer Service, and Employee Development.
READ MORELANDBANK’s Customer Care Center (CCC) is operational 24/7 and is in line with the Bank’s continuing efforts to comply with the Financial Consumer Protection Circular of the Bangko Sentral ng Pilipinas (BSP), specifically its requirement of a Consumer Assistance Management System (CAMS).
READ MOREThe LANDBANK Volunteerific Program has been providing employees with opportunities for making a real and valuable difference on people, communities and society as a whole. In 2019, 8,440 or 85% of the LANDBANK’s 9,959 employees adopted/supported a total of 309 Volunteer Involving Organizations (VIOs) from the Bank’s Corporate Social Responsibility (CSR) Pillars (LEED: Livelihood, Environment, Education and Disaster Relief) rendering 146,275 volunteer hours with an average of 17.33 volunteer hours per engaged employee. LANDBANK employees gave a positive response to the call for monetary contributions to LANDBANK’s CSR fund generation campaign dubbed as “Hour Time to Share.” The generosity of employees resulted in 18,577 work hours donated by 6,043 contributors or 71% of the total population. The equivalent monetary value of these work hours amounting to ₱5,801,225.19 was channeled mostly to the Bank’s GAWAD PATNUBAY scholarship program for deserving but financially disadvantaged students pursuing agriculture- and fisheries-related courses. Other portions went to donations for the LANDBANK Alumni Association, Inc., and the Philippine Bible Society. In November 2019, the Management approved the institutionalization of a voluntary cash donations program known as the LBP Alternative Mechanism of Benevolent Assistance for the Greater - Good System or the LANDBANK AMBAG System. A total of ₱460,072.07 donated by LANDBANK employees and outsourced personnel were turned over to appropriate LANDBANK units for distribution to employees and communities affected by the series of earthquakes in Mindanao that occurred during the latter part of 2019. Worksite bloodletting activities were conducted thrice in 2019 in partnership with the Philippine Red Cross (PRC). The campaign yielded 388.35 liters of blood from 863 donors. LANDBANK was lauded as an Outstanding Blood Services Partner by the PRC in 2019. LANDBANK, in partnership with the Department of Health and the Manila Health Department, sponsored a Milk-letting Activity entitled: “Share your Breastmilk” on March 8, 2019 where thirteen (13) employees donated a total of 2,379 mL of breastmilk to the Milk Bank of the Neonatal Unit of the Philippine General Hospital. In December 2019, LANDBANK conducted the second year of the “Share A Gift Program” in the City of Manila. A Noche Buena package consisting of rice, holiday ham, and groceries from LANDBANK, together with school bags, school supplies, toys and shirts from the employees were given to 500 children of the streets and their families in the area of Tondo, Manila.
READ MOREThe Bank conducts an Orientation Program for new Directors. The Corporate Secretary has the following responsibilities for the Orientation Program for New Directors upon their assumption: 1) Schedules a meeting with the Board of Directors and Management; 2) Conducts a two-day orientation program to give an oversight of the Bank, Allowances, Benefits and Incentives of the Directors and their roles as members of the Board-level Committees; and 3) Provides documents such as the LANDBANK Quick Guide for Ex-Officio Directors and the BSP Requirements pursuant to Section 137 of the MORB.
READ MOREThe schedule of the meetings of the Board of Directors is agreed upon at the beginning of the year. For CY 2019, this was agreed upon during the Board meeting held on January 9, 2019. In general, there are at least two meetings scheduled per month, held on every second and fourth Wednesday of each month (as provided under the Manual on Corporate Governance, page 30, H. Meetings of the Board of Directors). As much as practicable, materials for the Board meeting are sent to the members of the Board at least three business days before the Board meeting. The Corporate Secretary from January to December 2019 was Atty. Myra-Lyn S. Peñalosa, who has been a member of the Philippine Bar since 1997. For calendar year 2019, the Board of Directors was able to meet 25 times or 100% of the scheduled meetings. Moreover, the non-executive Directors and the Heads of Internal Audit Group, Risk Management Group, Compliance Management Group and the Resident COA Representative were able to meet separately on December 6, 2019, without the presence of the President and CEO, in compliance with the BSP and GCG requirements.
READ MOREAs a financial institution built upon the trust of all its stakeholders, LANDBANK ensures that ethical behavior is not only applied within its operations, but also extends to its supply chain. The Code of Conduct for LANDBANK Employees was established and approved by the LANDBANK Board of Directors on November 23, 2006. LANDBANK regularly communicates the Code of Conduct to all its employees. On the other hand, the Code of Conduct for the members of the Board of Directors was approved on January 10, 2017. The Code of Conduct is aligned with the Bank‘s core values, and provides guidance for all LANDBANK employees on the right and ethical way to conduct themselves. January of every year is regarded as LANDBANK‘s Code of Conduct Month, with the theme ―I Live by The Code‖. During this month, all Landbankers are reoriented with all the provisions of the Code of Conduct, and are encouraged to sign the Code of Conduct Compliance Recommitment Certificate. According to the Section 3, Article I of the 6th Collective Negotiation Agreement (CNA) between LANDBANK and the LANDBANK Employees‘ Association (LBPEA), LBPEA is tasked to assist the Management in inculcating among employees the provisions of the Code of Conduct for LANDBANK employees and pertinent Civil Service laws, rules, and regulations as well as other issuances designed to promote honesty, social responsibility, trust, excellence, professionalism, discipline, efficiency, productivity, and effectiveness of the LANDBANK services. Integrity is deeply embedded in LANDBANK‘s core values. The Bank has a zero-tolerance policy towards fraud and corruption, and incidents of corruption or fraud are taken very seriously. The Bank strictly follows the Revised Rules on Administrative Cases in the Civil Service, imposes the Code of Conduct, as well as the provisions of Anti-Corruption laws such as the Ease of Doing Business and Efficient Delivery of Government Services Act of 2017 on all Public Officials and Employees.
READ MOREThe Bank’s total revenues declined by 5.2% in 2020 due to the anemic economic environment brought about by the pandemic. Due to the depressed lending condition, Corporate Banking suffered a 16.5% decline while Retail Banking registered a relatively flat growth rate of only 1.4%. Treasury and Investment Banking compensated for the lower revenue contribution of the Bank’s lending operations by sustaining its higher revenue contribution with 10.7% increase for the year. Overall, Corporate Banking remains the biggest revenue contributor at 50.3%, although its share declined from 57.0% the previous year. Treasury and investment Banking increased its share of income contribution to 43.8% from 37.5% in 2019.
READ MOREAs of Fri, January 31, 2025
| Buying | Selling | |
|---|---|---|
| USD | 58 | 58.5 |
| JPY | 0.370591 | 0.384813 |
| EUR | 59.414988 | 61.69919 |
| GBP | 71.033811 | 73.764698 |
| HKD | 7.415713 | 7.966355 |
As of Thu, January 30, 2025
| UITF | NAVPU |
|---|---|
| Cash Management Fund | 1.542811 |
| Money Market Fund | 1.29858 |
| Money Market Plus Fund | 1.2119 |
| PERA Money Market Fund | 1.01789 |
| Medium-Term Bond Fund | 2.437623 |
| Bond Fund | 2.003595 |
| PERA Bond Fund | 1.18339 |
| Balanced Fund | 2.530861 |
| Growth Fund | 2.525776 |
| Alpha Equity Fund | 2.971622 |
| Blue Chip Equity Fund | 0.952607 |
| Equity Fund | 0.77501 |
| High Dividend Equity Fund | 0.969346 |
| US$ Money Market Fund | 1.42175 |
| Global $ Fund | 1.484783 |
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