LANDBANK joins the Bangko Sentral ng Pilipinas (BSP) in the observance of the Savings Consciousness Week 2022 from 30 June to 6 July 2022 with the theme, "Moneygurado! Mag-impok sa bangko para asenso ay sigurado." This week-long observance aims to continuously encourage the public to save in banking institutions and further raise awareness on the vital role of savings in the country's economic development. #SCWeek2022 #BankingOnTheFilipinoSpirit #ServingTheNation
READ MORE(left to right) DSWD Undersecretary Felicisimo C. Budiongan, UNICEF Philippines Deputy Representative Behzad Noubary, LANDBANK Senior Vice President Marilou L. Villafranca, and UNICEF Chief of Social Policy Atty. Anjanette Saguisag, lead the signing of a memorandum of understanding on 14 June 2022 in Quezon City for the distribution of multi-purpose unconditional cash transfers in typhoon-prone communities in Catanduanes and Northern Samar under the United Nations Central Emergency Response Fund (CERF) for Anticipatory Action. The Land Bank of the Philippines (LANDBANK) has partnered with the Department of Social Welfare and Development (DSWD) and the United Nations Children’s Fund (UNICEF) to provide pre-disaster financial assistance to about 22,000 families from typhoon-prone towns in Catanduanes and Northern Samar. Under the partnership, LANDBANK will facilitate the disbursement of multi-purpose unconditional cash transfers to beneficiaries under the DSWD’s Conditional Cash Transfer (CCT) program worth P1,000 each via LANDBANK Prepaid Cards. The cash transfers will be disbursed three days prior to the expected landfall of a Category 4 or 5 typhoon. Target beneficiaries of the program—more popularly known as the Pantawid Pamilyang Pilipino Program (4Ps)—include families residing in the municipalities of Baras, Bato, San Andres and Virac in Cantanduanes, and the municipalities of Catarman, Catubig, Gamay, Mondragon, and San Roque in Northern Samar. The provision of cash transfers to selected 4Ps beneficary-households is part of the pilot testing of the United Nations (UN) Central Emergency Response Fund (CERF) for Anticipatory Action in the country, designed to mitigate the impact of typhoons on people’s homes and livelihood while building on the government’s mandatory pre-emptive evacuation procedures. DSWD Undersecretary Felicisimo C. Budiongan, UNICEF Philippines Deputy Representative Behzad Noubary and Chief of Social Policy Atty. Anjanette Saguisag, and LANDBANK Senior Vice President Marilou L. Villafranca signed a memorandum of understanding on 14 June 2022 in Quezon City to formalize the partnership. “LANDBANK’s collaboration with the DSWD and UNICEF ensures the delivery of immediate and secure cash assistance to vulnerable sectors in high-risk towns prone to typhoons. This complements our efforts towards building stronger and more resilient communities, as part of our broader thrust of serving the nation,” said LANDBANK President and CEO Cecilia C. Borromeo. Beneficiaries can use the LANDBANK Prepaid Cards to withdraw cash assistance from LANDBANK automated teller machines (ATMs) and Agent Banking Partners, and make cashless purchases in groceries and drugstores via point-of-sale (POS) terminals. The state-run Bank has also upgraded the existing LANDBANK prepaid cards of the beneficiaries into transaction accounts with expanded features to provide more convenient banking services. As of end-May 2022, LANDBANK has produced cards for all 4.4 million 4Ps beneficiaries nationwide to facilitate timely, safe and convenient distribution of cash subsidies from the National Government. LANDBANK remains steadfast in the fulfillment of its expanded mandate as the delivery arm for the National Government’s social protection initiatives, in line with servicing the country’s underserved and marginalized sectors.
READ MORE(left photo) Finance Secretary Carlos G. Dominguez III (4th from left) and LANDBANK President and CEO Cecilia C. Borromeo (5th from left), together with Mindanao Development Authority Secretary Maria Belen Sunga-Acosta (3rd from left) and Davao City Councilor Diosdado Angelo Mahipus, Jr. (2nd from left), lead the unveiling of the official marker of the LANDBANK Davao Corporate Center (right photo) on 24 June 2022 located in Bajada, Brgy. Buhangin in Davao City. They were joined by LANDBANK Director Jaime L. Miralles (leftmost), Executive Vice Presidents Alex A. Lorayes (rightmost) and Liduvino S. Geron (6th from left). DAVAO CITY – The Land Bank of the Philippines (LANDBANK) strengthens its presence in Davao City and nearby localities with the opening of a four-story corporate center in Bajada, Brgy. Buhangin, to provide convenient access to a wide array of banking services. The LANDBANK Davao Corporate Center—the bank’s biggest corporate center outside of the National Capital Region—will serve the various banking and financial needs of over 30,000 customers in East Mindanao, as it houses the Bank’s major touchpoints and local offices. Department of Finance (DOF) Secretary and LANDBANK Chairman Carlos G. Dominguez III and LANDBANK President and CEO Cecilia C. Borromeo, alongside Mindanao Development Authority (MinDa) Secretary Maria Belen Sunga-Acosta and Davao City Councilor Diosdado Angelo Mahipus, Jr., led the inauguration rites for the LANDBANK Davao Corporate Center on 24 June 2022. They were joined by LANDBANK Director Jaime L. Miralles, Executive Vice Presidents Alex A. Lorayes and Liduvino S. Geron, and other Bank senior officers. “The Davao Corporate Center underscores LANDBANK’s commitment to expanding its reach and bringing its services to all Filipinos,” said Finance Secretary Dominguez. “I see this corporate center as LANDBANK’s investment in one of the fastest-growing regions in the country. With the infrastructure build-up in the region and the great potential the area holds, rapid growth will transpire here in the next few years,” he added. Meanwhile, LANDBANK President and CEO Borromeo underlined LANDBANK’s expanded role in nation-building by supporting a broad range of development sectors. “LANDBANK has been a strong arm of the government in advancing inclusive development programs, accelerating growth of local economies, and bringing banking services to the farthest reach of our country. Moving forward, LANDBANK will build on its growth momentum and bring to a higher gear its pursuit of serving the nation,” said LANDBANK President and CEO Borromeo. Located on the ground floor of the Davao Corporate Center is the LANDBANK Bajada Branch, which will service customers from the four districts of Davao City, including various local and national government offices, private establishments and retail clients. The Branch has three onsite automated teller machines (ATMs) to cater to the cash requirements of over 40,000 beneficiaries of the Conditional and Unconditional Cash Transfer (CCT/UCT) programs of the Department of Social Welfare and Development (DSWD), government employees, teachers, students, and other local residents. The LANDBANK Bajada Branch also features a Digital Corner where customers can open a deposit account in only 15 minutes or less using the Bank’s Digital Onboarding System (DOBS). Opening an account via DOBS provides automatic enrollment to LANDBANK’s digital banking channels for safe and convenient online transactions. On the third floor of the corporate center is the LANDBANK Davao Lending Center, which will cater to the financing requirements of local farmers and fishers, agrarian reform beneficiaries, micro, small and medium enterprises (MSMEs), cooperatives, and local government units (LGUs), among the Bank’s priority sectors. The Davao Corporate Center also serves as the official station of the LANDBANK Mobile ATM and Mobile Branch in Mindanao, which are on standby to service areas disrupted by disasters and calamities, as well as unbanked and underserved communities. Other LANDBANK field offices in the corporate center are the East Mindanao Branches Group, Mindanao Lending Group, Davao Cash Operations Unit, Trust Desk, Loan Operations Management Department – Mindanao Unit, Davao Loan Operations Field Unit, Property Valuation and Credit Information Department – Davao Field Team, Cash Management Solutions Department Mindanao, Davao del Sur Accounting Center 1, Agrarian Operations Center XI, Field Legal Services XI, and Organization Development Department Mindanao. The Commission on Audit (COA) and Upland Southern Mindanao–Credit and Institutional Building Program (USM-CIBP) were also provided space within the corporate center. LANDBANK currently operates a total of nine branches and one lending center in Davao City. This is complemented by 64 ATMs, two cash deposit machines (CDMs), and eight Agent Banking Partners (ABPs) that provide basic banking services on behalf of LANDBANK in areas with limited access to formal banking. LANDBANK is the only bank present in all 81 provinces in the Philippines, with plans for continued expansion focusing on servicing the requirements of its diverse customer base nationwide.
READ MOREIn partnership with the Department of Social Welfare and Development (DSWD), the Land Bank of the Philippines (LANDBANK) has disbursed a total of P3.8 billion in cash assistance to 3.8 million household-beneficiaries covering three payout tranches conducted under the Targeted Cash Transfer (TCT) Program as of 1 July 2022. The TCT Program aims to support around 12.4 million vulnerable households belonging to the bottom fifty percent (50%) of Filipino households, amid the rising prices of fuel and goods. “Together with the DSWD, we will ensure the immediate distribution of cash assistance to all eligible beneficiaries under the TCT Program. We are one with the National Government in alleviating the plight of vulnerable sectors amid the increase in the price of fuel and other commodities,” said LANDBANK President and CEO Cecilia C. Borromeo. Under the Memorandum of Agreement (MOA) for the Program, the DSWD shall identify the list of beneficiaries, which includes the 10 million combined beneficiaries under the Department’s Conditional and Unconditional Cash Transfer (CCT and UCT) Programs, as well as 2.4 million low income-households in the database of the National Household Targeting System for Poverty Reduction or Listahanan Program. Each eligible beneficiary will receive P500.00 per month for six (6) months, amounting to a total of P3,000.00 per beneficiary. The 3.8 million household-beneficiaries have already received P1,000.00 each or two-months’ worth of subsidies. Beneficiaries with existing LANDBANK Prepaid Cards will receive the subsidy directly through their cards, which they can also use for cashless transactions in groceries, pharmacies, convenience stores, and other accepting merchants via Point-of-Sale (POS) terminals, including balance inquiry via the LANDBANK Mobile Banking App (MBA). In addition, beneficiaries can use 2,822 LANDBANK ATMs nationwide, as of 31 May 2022, for cash withdrawal, bills payment, purchase of mobile prepaid load, and fund transfers to LANDBANK and other bank accounts. The LANDBANK Prepaid Cards can also be used to cash-out funds from the Bank’s 924 Agent Banking Partners (ABPs) nationwide. As part of its commitment of serving the nation, LANDBANK is the main distribution arm of financial assistance under the National Government’s social protection programs, especially to vulnerable and underserved sectors.
READ MORE(left photo) LANDBANK Agent Banking Partner, Tynnes Giggles Boutique of Nueva Ecija Province, facilitates the account opening of unbanked Philippine Identification System (PhilSys) registrants in San Isidro, and offers other banking services in San Antonio (right photo). SAN ANTONIO, Nueva Ecija – When his daughter entered college, solo parent Nelson Quilantang needed to start saving to cover tuition fees for her chosen four-year degree. But without a bank account, he had difficulty building an education fund for her. Nelson’s worries were laid to rest when he learned that the Land Bank of the Philippines (LANDBANK) was facilitating the opening of LANDBANK accounts at the same registration center where he signed up for the Philippine National ID. This is part of LANDBANK’s co-location strategy with the Philippine Statistics Authority (PSA), wherein unbanked registrants who completed Step 2 of the Philippine Identification System (PhilSys) registration process are provided with their own LANDBANK transaction accounts free-of-charge and with no initial deposit requirement. To reach and service more PhilSys registrants, LANDBANK is tapping agent banking partners (ABPs) to facilitate account application and Know-Your-Customer (KYC) activities at PhilSys registration areas nationwide. Nelson was assisted at the PhilSys registration center by the staff of Tynnes Giggles Boutique—a general merchandising store and a LANDBANK ABP in Nueva Ecija—who helped him open an account and provide him his LANDBANK Prepaid Card on the same day. With the Prepaid Card, Nelson is now able to regularly cash-in a portion of his earnings via Tynnes Giggles Boutique at their nearby branch in San Antonio, and more importantly, grow his savings for his daughter’s education. He can also perform other transactions such as cash-out, fund transfers, bills payments, and balance inquiries. “Salamat sa LANDBANK dahil mas madali na akong nakaka-ipon ngayon. Malaking ginhawa din ang Tynnes Giggles Boutique dahil hindi ko na kailangan pang bumiyahe ng malayo,” said Quilantang. Advancing financial inclusion through ABPs LANDBANK ABPs play a major role in onboarding unbanked PhilSys registrants in the country. Of the total 8.1 million registrants who have signed up for LANDBANK transaction accounts nationwide, 3.5 million were serviced by ABPs as of end-May 2022. Of the total 404,778 onboarded registrants in Nueva Ecija, 280,848 or 69% of the unbanked PhilSys registrants opened their accounts through LANDBANK’s eight ABPs in the province. Of this number, Tynnes Giggles Boutique onboarded 102,697 PhilSys registrants from the Municipalities of Cabiao, Jaen, San Antonio, San Isidro, Gabaldon, Santo Domingo, Talavera, and the City of Palayan. Boutique store owner Cristina Lejano travelled with her team around the province to facilitate account opening activities in PhilSys registration centers at the height of the pandemic—reaching as far as Gabaldon, which took almost 3 hours by land from their main office in San Antonio. “More than the additional income, I applied as a LANDBANK Agent Banking Partner in order to serve our community. Having few financial institutions in our town, it was difficult for locals to conveniently access banking services. Our store is helping to bridge this gap,” said Lejano. The Tynnes Giggles Boutique was officially accredited by LANDBANK as a full-suite ABP in 2020, after its staff completed the required trainings and complied with the requirements of the Bank. Under its Agent Banking Program, LANDBANK initiates partnerships with client cooperatives, associations, rural banks, local government units (LGUs), micro, small and medium enterprises (MSMEs), and private entities to help provide basic banking services to areas with limited or no Bank presence.
READ MOREFinance Secretary Carlos G. Dominguez III (2nd from left), LANDBANK President and CEO Cecilia C. Borromeo (center), and incoming BSP Governor Felipe M. Medalla (rightmost) lead the inauguration rites for the LANDBANK BSP Branch on 27 June 2022. Joining them are BSP Monetary Board Members Anita Linda R. Aquino (leftmost) and V. Bruce J. Tolentino (4th from left). State-run Land Bank of the Philippines (LANDBANK) officially inaugurated a servicing unit to exclusively service the banking requirements of the Bangko Sentral ng Pilipinas (BSP). Located on the ground floor of the BSP Multi-Story Building in Malate, Manila, the LANDBANK BSP Branch will provide the central bank with convenient access to the Bank’s products and services, including payroll servicing for BSP employees and payment facilitation to its third-party suppliers. Finance Secretary and LANDBANK Chairman Carlos G. Dominguez III, LANDBANK President and CEO Cecilia C. Borromeo, and incoming BSP Governor Felipe M. Medalla led the inauguration rites for the BSP Branch on 27 June 2022. They were joined by BSP Monetary Board Members V. Bruce J. Tolentino and Anita Linda R. Aquino, Deputy Governors Eduardo G. Bobier and Bernadette Romulo-Puyat, and other LANDBANK senior officers. “The opening of the LANDBANK BSP Branch reflects our steadfast commitment to serve the requirements of the BSP in a timely and efficient manner. It also underscores our continuing support for BSP’s development agenda, in line with our unified approach in advancing financial inclusion and serving the nation,” said LANDBANK President and CEO Borromeo. More than 5,500 BSP employees—as well as employees of nearby government offices—are expected to benefit from the services of the LANDBANK BSP Branch, which is equipped with its own automated teller machine (ATM) and cash deposit machine (CDM). The servicing unit also features a Digital Corner where customers can open a deposit account in only 15 minutes or less using the Bank’s Digital Onboarding System (DOBS), a pioneering web application launched in 2019 to simplify the account enrolment process for individuals and institutional customers. Opening an account via DOBS provides automatic enrollment to LANDBANK’s digital banking channels for safe and convenient online transactions. The system also allows existing DOBS account holders to update their information. LANDBANK is the only bank present in all 81 provinces in the country with a total of 607 branches and 58 lending centers, servicing the requirements of a diverse customer base, including unbanked and underserved communities.
READ MOREThe Provincial Governments of Bukidnon and Sarangani in Mindanao have commended the Land Bank of the Philippines (LANDBANK) for providing a digital banking facility for convenient payroll transactions, remittances, and payment of government contributions for their employees. The two local government units (LGUs) enrolled their institutional accounts to weAccess, LANDBANK’s internet-based banking facility for institutional clients that offers fund management, bills payment, remittance services, and Automated Teller Machine (ATM) payroll services, among others. The Bukidnon LGU cited the convenient and timely disbursement of salaries to employees with the use of the LANDBANK weAccess. “The LANDBANK weAccess significantly improved our operational efficiency as it eliminates travel time from our office to the bank, unnecessary delays in releasing personnel benefits, and shortage of coins for exact change,” said Bukidnon Provincial Treasurer Marilou Bueno. Bueno pointed out that prior to their LANDBANK weAccess enrollment, they had to manually deliver payroll documents to the LANDBANK Malaybalay Highway Branch to process the salary of more than 3,000 employees. “The LANDBANK weAccess really resolved this concern. Now, I can approve the payroll transactions even when I am out of the office,” Bueno added. The partnership between LANDBANK and Bukidnon LGU started in 1996 when the latter opened a deposit account with the Bank. Over the years, they have continuously tapped LANDBANK to finance infrastructure projects for various economic activities benefitting the Province and its constituents. At present, LANDBANK has a total of seven (7) branches and a branch-lite unit in the Province of Bukidnon, complemented by 42 ATMs, five (5) Cash Deposit Machines (CDMs), and two (2) Agent Banking Partners operating on behalf of the Bank. Meanwhile, the Sarangani LGU utilizes the LANDBANK weAccess to remit employees’ premium payments and monthly contributions to the Home Development Mutual Fund or Pag-IBIG Fund, as well as payments to the Government Service Insurance System (GSIS). “The introduction of LANDBANK weAccess to our province simplified the remittance of our employees’ payments to Pag-IBIG and GSIS,” said Sarangani Provincial Treasurer Eliza Cania. With LANDBANK weAccess, the process of remitting physical checks to these government offices was eliminated, which also improved the LGU’s manpower efficiency. Cania said that the platform was also heavily utilized at the height of the COVID-19 pandemic in 2021, when mobility within the province was restricted. “The LANDBANK weAccess was very useful for us especially during the times when we encountered a surge in COVID-19 cases since it allowed us to deliver unhampered financial services to our employees,” Cania added. A LANDBANK client for almost three (3) decades, the Provincial Government of Sarangani has complementing touchpoints of 11 LANDBANK ATMs across the province and a Branch in Alabel to cater to their banking needs. LANDBANK has also financed various development and infrastructure projects in all of Sarangani’s seven municipalities. As of end-May 2022, LANDBANK has recorded a total of 10 million transactions amounting to P243.64 billion through its weAccess platform, recording increases of 31.99% in volume and 24.73% in value, year-on-year. As the biggest development partner of LGUs nationwide, LANDBANK leverages on technological solutions to serve the requirements of local governments and in serving the nation.
READ MORE‘Green’ hospital. Around 40% of Dr. Arturo P. Pingoy Medical Center’s total energy requirement comes from solar energy produced by 897 solar panels, which were purchased through LANDBANK financing. KORONADAL CITY, South Cotabato – As part of its commitment to operate an environmentally sustainable hospital, the Dr. Arturo P. Pingoy Medical Center is tapping into solar energy as an alternative power source to deliver quality healthcare to patients. Established by physician spouses Dr. Arturo and Dr. Amparo Pingoy in 1961, the hospital has grown from a small out-patient clinic into a three-storey medical building with a 100-bed capacity. The Land Bank of the Philippines (LANDBANK) has been a major partner of the hospital since 1998, extending credit assistance amounting to P612 million which were used for working capital and construction of medical buildings and facilities. Of this amount, P127 million was allotted for the establishment and operations of the medical school, St. Alexius College, Inc. Now operated by the Pingoy children, the hospital is transforming into a ‘green’ healthcare facility by using a portion of the latest loan under LANDBANK’s Go Green Inclusive Financing Program to install 897 solar panels that now serve as an alternative power source. With a total capacity of 342 kilowatt peak (kWp), the solar panels are able to supply 30% to 40% of the total energy requirement of the hospital. This generates around P4.8 million in savings per year, which improves the medical center’s cash flow and can be used for other essential expenses. “As an energy-intensive business, we want to do our part in minimizing the hospital’s carbon footprint, while keeping our patients and employees safe and comfortable. With LANDBANK’s support, we were able to make this a reality,” said daughter Dr. Nanette P. Franco, who serves as a director at the Medical Center. Additionally, the solar power helps the hospital continue operations even during power failures, preventing the disruption of medical procedures and damage to hospital equipment. Through the Go Green Inclusive Financing Program, LANDBANK aims to finance the acquisition, construction, or installation of equipment, systems, appliances, or structures for the efficient and cost effective use of energy or electricity. Eligible borrowers include enterprises registered as single proprietors, partners, cooperatives, and corporations; local government units (LGUs); government-owned and controlled corporations (GOCCs); state universities and colleges; and private universities and colleges classified as small and medium enterprises (SMEs). Up to 90% of the total project cost may be borrowed to finance non-fossil energy sources, such as roof top solar energy systems, wind mills or turbine systems or hybrid energy generators, and waste to energy conversion systems or equipment. The LANDBANK Go Green Inclusive Financing Program also finances the installation of thermal insulation and heat exchange systems, energy efficient lightings, rain collection or water recycling systems, construction of green buildings, and installation or adoption of energy efficient cooling systems and equipment, among others. Loans are payable up to 15 years based on cash flow or the economic useful life of the financed project, whichever is shorter. The interest rate shall be based on the prevailing market rate, but not lower than 5% per year. As of 31 May 2022, LANDBANK has approved loans totaling P48.9 million under the Go Green Inclusive Financing Program, underscoring the Bank’s thrust of promoting sustainable finance and development.
READ MORELANDBANK Visa Debit Card E-Commerce Promotional Campaign OFFER: Get up to P200 Cashback for a single minimum transaction of P100 in Netflix, Spotify, Google, and iTunes with your LANDBANK and OFBank Visa Debit Card. PROMO MECHANICS: 1. Existing and new LANDBANK and OFBank Visa Debit Card accountholders will get P100 cash back for a single minimum transaction of P100 made through any of the select international e-Commerce merchants ( Netflix, Google, iTunes, and Spotify) within the promo period. 2. Each account holder is entitled to one (1) rebate per month to be credited within a minimum of fifteen (15) business days to forty (45) business days from the date of transaction. • 1st Month – July 15, 2022 to August 15, 2022 • 2nd Month – August 16, 2022 to September 15, 2022 3. Promo period is from July 15, 2022 to September 15, 2022 TERMS AND CONDITIONS: 1. Each qualified LANDBANK and OFBank Visa Debit accountholders will be entitled to one (1) rebate per month. Maximum eligible rebate per accountholder is P200 for the promo duration. 2. Purchase must be from any of the following international merchants: MERCHANT REMARKS Google Except Google Advertising Services and Google-check-out purchases Netflix Spotify Including Podcasts iTunes Except physical payment in Apple stores Click here for the complete merchant category codes applicable in the promo. 3. Qualified transactions shall be based on the data sent by the merchant/acquirer to VisaNet. 4. A “Qualified Transaction” is defined as a successful payment transaction using a LANDBANK or OFBank Visa Debit Card for purchases/subscriptions in the abovementioned merchants within the Promo Period. 5. Promo Exclusions: The following transactions are NOT Qualified for this Promo: a. Domestic transactions in any of these merchants b. Face-to-face transactions in any of these merchants c. Transactions made through payment aggregators (ex. through telco bill or via PayPal for any of the above-mentioned subscription) d. Reversed/cancelled payments 6. The P100 maximum cashback will be credited to the qualified Cardholder of LANDBANK or OFBank Visa Debit account with transaction description, “LANDBANK Visa eComm Promo” on or before October 27, 2022 The cashback amount will be reflected on the Statement of Account and it will be reflected as part of the account’s transaction history which the Cardholder can access through the LANDBANK Digital Banking Channels (Mobile Banking Application and iAccess. 7. LANDBANK reserves the right to reverse or adjust the cashback previously posted if the qualifying spend is disputed or cancelled on a later date, or if the transaction is found to be invalid or fraudulent, or if there is erroneous posting of the cashback on the Cardholder’s account. 8. LANDBANK is not an agent of any of the participating merchants and makes no representation as to the quality of goods and services provided. All feedback regarding the quality of goods and services provided should be directed to the respective merchants. 9. In case of dispute in respect of but not limited to the Cardholder’s eligibility, coverage of dates, fulfillment, etc., LANDBANK’s decision shall prevail. All questions or disputes regarding the Cardholder’s eligibility for the promo shall be resolved by LANDBANK with the concurrence of DTI. 10. DTI Fair Trade Permit No. FTEB-147411 Series of 2022.
READ MOREThe Land Bank of the Philippines (LANDBANK) launched a new lending program to help fast-track the recovery of countryside financial institutions (CFIs) adversely affected by the onslaught of typhoon Odette last December 2021. Through the Countryside Financial Institutions – REhabilitation and Support to Typhoon Odette-Affected AREas or CFI-RESTORE Lending Program, LANDBANK will finance permanent working capital and capital expenditures, including the repair and rehabilitation of buildings and facilities, and the repair or purchase of equipment damaged by the typhoon. The CFI-RESTORE Lending Program can also be used to supplement the funds of CFIs for relending to sub-borrowers affected by the typhoon. “In the face of unprecedented financial challenges brought about by calamities, LANDBANK stands ready to assist CFIs to sustain their operations. This is part of our commitment to advance local recovery and help build more resilient communities nationwide,” said LANDBANK President and CEO Cecilia C. Borromeo. Under the CFI-RESTORE Lending Program, LANDBANK will assist affected CFIs in six (6) regions previously declared by the National Government under a state of calamity due to typhoon Odette. These include MIMAROPA (Region IV-B), Western Visayas (Region VI), Central Visayas (Region VII), Eastern Visayas (Region VIII), Northern Mindanao (Region X), and CARAGA (Region XIII). Eligible Program borrowers include rural, thrift and cooperative banks which may borrow up to 85% of the actual need for permanent working capital and capital expenditure, and up to 90% for the CFIs’ sub-borrowers’ agricultural loans and 85% for non-agricultural loans. An interest rate of 4% per year shall apply, fixed for the first three (3) years and subject to repricing thereafter, and payable up to three (3) years for working capital, ten (10) years for capital expenditure, and ten (10) years for term loan rediscounting. CFIs with existing loans with LANDBANK may also avail of loan restructuring under the Program to rehabilitate and restore their operational cash flow, via extended repayment period. The LANDBANK CFI-RESTORE Lending Program will also cater to CFIs in areas placed under a state of calamity by their respective local government units. 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.
READ MOREAs of Tue, April 29, 2025
| Buying | Selling | |
|---|---|---|
| USD | 56.15 | 56.65 |
| JPY | 0.384503 | 0.399342 |
| EUR | 62.734299 | 65.163993 |
| GBP | 73.505595 | 76.352462 |
| HKD | 7.193121 | 7.729313 |
As of Mon, April 28, 2025
| UITF | NAVPU |
|---|---|
| Cash Management Fund | 1.558065 |
| Money Market Fund | 1.311204 |
| Money Market Plus Fund | 1.223605 |
| PERA Money Market Fund | 1.024015 |
| Medium-Term Bond Fund | 2.471787 |
| Bond Fund | 2.022874 |
| PERA Bond Fund | 1.198546 |
| Balanced Fund | 2.606916 |
| Growth Fund | 2.583822 |
| Alpha Equity Fund | 3.00714 |
| Blue Chip Equity Fund | 0.961723 |
| Equity Fund | 0.7838 |
| High Dividend Equity Fund | 1.005401 |
| US$ Money Market Fund | 1.432307 |
| Global $ Fund | 1.527551 |
