In pursuit of its mandate to support the country’s agriculture sector, the Land Bank of the Philippines (LANDBANK), in partnership with the Department of Agriculture (DA), continues to provide affordable financial assistance to farmers and fishers, as well as their cooperatives and associations, to help increase their productivity and profitability. Under the Agricultural Competitiveness Enhancement Fund (ACEF) Lending Program, the Bank has released a total of P2.5 billion in loans to 19,367 eligible borrowers as of June 30, 2020. Of the total borrowers, 19,189 are Small Farmers and Fishers (SFFs), 119 are micro and small enterprises (MSEs), and 59 are farmers and fisherfolk cooperatives/associations. Direct lending under the ACEF Lending Program has been made available to eligible borrowers at an affordable interest rate of 2% per annum. Individual farmers and fishers may use the loan under the Program for the purchase of farm inputs and equipment or for farm improvement. For MSEs, cooperatives and associations, the loan may be used for the acquisition of machineries, equipment and facilities for agri-based production and post-production, as well as processing. Moreover, LANDBANK has released a total of P527.3 million in loans to 3,115 rice farmers and 22 cooperatives as of end-June 2020 under the Expanded Rice Credit Assistance under the Rice Competitiveness Enhancement Fund (ERCA-RCEF) Program. The ERCA-RCEF Program was implemented to provide support to farmers following the implementation of the Republic Act No. 11203 or the Rice Tariffication Law. The Bank is one of the implementing agencies for the P1-billion RCEF allocation for credit, and mandated to make available P500 million in loans annually to rice farmers in 59 out of 80 rice-producing provinces covered by the Program from year 2019 to 2024. Direct lending under the ERCA-RCEF Program has been made available to eligible borrowers at an affordable interest rate of 2% per annum. For on-lending, interest rate is at 0% per annum with prescribed pass-on rate to end-borrowers of up to 6% per annum. Individual farmers may use the loan under the Program for the purchase of farm inputs for rice and rice seed production, and acquisition of farm machineries and equipment for production and post-production. For cooperatives, the loan may be used for the purchase of farm inputs for rice and rice seed production as a collective operation, working capital for rice and rice seed trading operation and other rice farming-related activities, acquisition of machineries and equipment, relending to small rice farmers listed in the Registry System for Basic Sectors in Agriculture (RSBSA), and rediscounting of existing loans of small rice farmers listed in the RSBSA. “LANDBANK is continuously working with the Department of Agriculture to intensify our support to the agriculture sector. Through the ACEF and ERCA-RCEF Loan Programs, we aim to assist more farmers and fishers, as well as their cooperatives and associations, so they can boost their productivity and profitability, and contribute significantly in ensuring food security in the country especially with the ongoing COVID-19 pandemic,” LANDBANK President and CEO Cecilia C. Borromeo said.
READ MORE(Clockwise, from upper left) Land Bank of the Philippines (LANDBANK) President and CEO Cecilia C. Borromeo leads the virtual signing of a P250-million loan agreement with STI Education Services Group, Inc. (STI-ESGI) Executive Committee Chairman Dr. Eusebio H. Tanco and STI-ESGI Chief Executive Officer Monico V. Jacob for the LANDBANK ACADEME Lending Program to finance STI’s ‘study now, pay later’ program for its students in the coming school year 2020-2021. Signing as witnesses are STI-ESGI Chief Finance Officer and Treasurer Yolanda M. Bautista, and LANDBANK Agricultural and Development Lending Sector Officer-In-Charge Senior Vice President Ma. Celeste A. Burgos. The Land Bank of the Philippines (LANDBANK) and STI Education Services Group, Inc. (STI-ESGI) signed a P250-million Term Loan Rediscounting Line agreement under the ACADEME (ACcess to Academic Development to Empower the Masses towards Endless Opportunities) Lending Program to finance the institution’s ‘study now, pay later’ program for its students amid the financial difficulties facing families due to the COVID-19 pandemic. LANDBANK President and CEO Cecilia C. Borromeo, STI-ESGI Executive Committee Chairman Dr. Eusebio H. Tanco and STI-ESGI Chief Executive Officer Monico V. Jacob led the virtual signing, held on July 24, 2020. The event was witnessed by STI-ESGI Chief Finance Officer and Treasurer Yolanda M. Bautista, and LANDBANK Agricultural and Development Lending Sector Officer-In-Charge Senior Vice President Ma. Celeste A. Burgos. The STI-ESGI, which is the largest subsidiary of STI Holdings, is the first academic institution that availed of the ACADEME Lending Program. The institution offers secondary and tertiary programs, as well as post-graduate and associate programs. “We would like to thank Chairman Tanco and the rest of STI-ESGI management team for putting faith in LANDBANK and our ACADEME Program to finance and ensure the enrollment of around 15,000 to 25,000 students in STI colleges and academic centers this upcoming school year,” LANDBANK President and CEO Borromeo said in her message. Other academic institutions which also availed of the LANDBANK ACADEME Lending Program include Medical Colleges of Northern Philippines, Inc. (MCNP) and the International School of Asia and Pacific, Inc. (ISAP) in the province of Cagayan. And at least 80 more private educational institutions have expressed interest in accessing the credit facility. “Almost 70% of our students are supported by overseas workers, who are being repatriated during this pandemic. This LANDBANK facility provides the much needed relief. STI has also agreed not to pass on the 3% interest of this facility. We will absorb this cost, and we thank LANDBANK for being the first bank to offer a study now, pay later plan. We are committed to the education of our youth, and we are happy to work with LANDBANK to make sure their future will continue to be bright and hopeful,” STI-ESGI CEO Jacob said in his response. Launched in May 2020, the LANDBANK ACADEME Lending Program aims to provide credit support to private high schools, private technical and vocational education training institutions, as well as Higher Education Institutions (HEIs) such as colleges and universities, in providing continuing education to their students, through their parents or benefactors, under a ‘study now, pay later’ program. LANDBANK allotted P3 billion for the Program, which offers refinancing or rediscounting of promissory notes issued by the parents or benefactors of students for school loans. Eligible schools can borrow up to 70% of the sub-promissory notes on a per semester basis, and subject further to a maximum amount based on the school’s net borrowing capacity, with a very low fixed interest rate of 3% per annum, payable based on the maturity of the sub-promissory notes, but not to exceed three (3) years. For more details about the Program’s features and application requirements, 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 the country takes recovery measures, the Land Bank of the Philippines (LANDBANK) is offering a new lending program to finance development and innovative projects of Local Government Units (LGUs) to help rebuild their communities. LANDBANK has earmarked P10 billion for the RISE UP LGUs Lending Program available for provincial, city and municipal LGUs. RISE UP LGUs stands for Restoration and Invigoration package for a Self-sufficient Economy towards UPgrowth for LGUs. The program was virtually launched Wednesday (July 29) during the regular meeting of the Union of Local Authorities of the Philippines (ULAP), the umbrella organization of all leagues of LGUs and locally elected government officials in the country. LANDBANK President and CEO Cecilia C. Borromeo and ULAP National President Government Dakila Carlo E. Cua led the virtual program launch, and participated in by ULAP member-Leagues and officers including, among others, League of Provinces of the Philippines (LPP) National President Governor Presbitero J. Velasco, Jr., League of Cities of the Philippines (LCP) National President Mayor Evelio R. Leonardia, and League of Municipalities of the Philippines (LMP) National President Mayor Luis C. Singson. “The ongoing public health crisis caused by the COVID-19 pandemic has highlighted the vital role of LGUs in managing the effects of unforeseen catastrophes. We hope that the LANDBANK RISE UP LGUs Program will help them better serve their constituents and communities, while developing a stronger local economy that can withstand future crises,” President Borromeo said. The LANDBANK RISE UP LGUs Program will be made available to eligible LGUs at a loan amount depending on their project requirements, provided that the total loan exposure (including the proposed loan under the program) should not be more than its Net Borrowing Capacity per Bureau of Local Government Finance (BLGF) computation/certification. The loan shall bear an affordable interest rate of 4.5% per annum fixed for the first year, and subject to annual repricing thereafter based on Bank’s prevailing interest rate The loan may be used for the purchase of agricultural produce, acquisition of equipment, and construction of facilities for linking of products to the market such as the market infrastructure development and/or improvement, mobile palengke, collection and buying stations, and related facilities. The LGU may also use the loan to fund programs and projects that will provide its constituents with basic and support services, social welfare and healthcare, and other infrastructure activities that aim to bring back confidence of the people and spur the local economic activities/businesses after a crisis or pandemic. For permanent working capital, the LANDBANK RISE UP LGUs Lending Program offers a loan tenor of three years. Meanwhile, tenor for term loan is up to 10 years. A grace period of up to one year on principal payment for both credit facilities may also be granted. To ensure an extensive information dissemination and coordination for the loan availment of the Lending Program by eligible LGUs, a Memorandum of Understanding (MOU) was also virtually signed between LANDBANK, ULAP, LPP, LCP and LMP during the webinar, which was streamed live over the Facebook pages of ULAP (fb.com/ulap.net.ph) and LANDBANK (fb.com/landbankofficial). 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 MOREThe Land Bank of the Philippines (LANDBANK), together with the Union of Local Authorities of the Philippines (ULAP), the League of Provinces of the Philippines (LPP), and the League of Cities of the Philippines (LCP), are working together to ensure extensive dissemination and coordination for the availment of the newly launched RISE UP LGUs (Restoration and Invigoration package for a Self-sufficient Economy towards UPgrowth for LGUs) lending program for eligible Local Government Units (LGUs) in the country. LANDBANK allotted an initial P10 billion for this program, which offers credit assistance to provincial, city, and municipal governments to finance developments and innovative programs in their localities. The RISE UP LGUs Lending Program is being offered by LANDBANK to support LGUs in the implementation of economic recovery plans aimed at reviving the local economy in the aftermath of the COVID-19 pandemic. The partnership was formalized with the signing of a Memorandum of Understanding (MOU) in a virtual launch event during a special meeting of ULAP member-leagues and officers on July 29, 2020. LANDBANK President and CEO Cecilia C. Borromeo and ULAP National President and Quirino Governor Dakila Carlo E. Cua led the virtual signing, together with LPP National President and Marinduque Governor Presbitero J. Velasco, Jr., and LCP Secretary General and Calapan Mayor Arnan C. Panaligan. Also present during the event was League of Municipalities of the Philippines (LMP) National President and Narvacan Mayor Luis C. Singson who expressed his support to the provisions provided in the MOU. Under the MOU, ULAP, LPP, LCP and LMP will disseminate information on the RISE UP LGUs Lending Program to its member-LGUs. LANDBANK, for its part, will provide reference and information materials, and quickly respond to queries, as well as attend invitations of LGUs to discuss RISE UP LGUs and other available lending programs. “Through the RISE UP LGUs Lending Program, our aim is to help you revitalize struggling businesses, restore investor-confidence in your respective localities, and promote local development. LANDBANK is here to help you grow into more sustainable and self-sufficient communities that can withstand the impact of future crises,” LANDBANK President and CEO Borromeo said in her message. ULAP National President Governor Cua said the RISE UP LGUs is “a lending program conceptualized to complement economic stimulus packages that may be developed by the National Government for LGUs.” “With LGUs feeling the adverse economic impact of the Covid-19 pandemic, this loan program is a way we can help LGUs improve their capacity to provide basic services for their constituents as they respond to the effects of the COVID-19 pandemic, as well as fund support services for local enterprises to stimulate local economies. With the country expected to experience its first economic recession in two decades, interventions are needed to help prop local businesses and create alternative economic opportunities. RISE UP LGUs should help capacitate LGUs to do just that,” Governor Cua said. Under the RISE UP LGUs Lending Program, eligible LGUs can borrow a loan amount depending on their project requirements, provided that the total loan exposure (including the proposed loan under the program) is not more than its Net Borrowing Capacity per Bureau of Local Government Finance (BLGF) computation/certification. Interested LGUs 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 MOREWater reservoirs in Can-avid, Eastern Samar. LANDBANK and the local government of Can-avid signed a P220-million loan agreement to finance the construction and upgrading of water system facilities in the municipality. CAN-AVID, Eastern Samar – Towards inclusive countryside development, the Land Bank of the Philippines (LANDBANK) and the municipal government of Can-avid in Eastern Samar recently signed a P220-million loan agreement to deliver better water service and minimize health hazards in the municipality. Can-avid Mayor Gil Norman Germino and LANDBANK Samar Lending Center Head Restituta Ilagan led the loan signing held last July 29, 2020, for the construction and upgrading of Can-avid’s water system facilities. Also present were Can-avid Municipal Accountant Celestino Cabanero, LANDBANK Borongan Branch Head Christopher Marco, and LANDBANK Samar Lending Center Account Officer Teofrido Lagria. According to the municipal government, the project will deliver efficient, uninterrupted, and less expensive supply of potable water to more residents in the area, while reducing the incidence of water-borne diseases caused by unsanitary water sources by as much as 80%. Can-avid’s water system will be upgraded from level II to level III to serve an additional six (6) upstream barangays previously dependent on individual deep well systems. The enhanced water system will soon benefit a total of 16 barangays covering 2,360 domestic households, 127 institutional establishments, and 190 commercial entities. The project design also has a provision for future servicing of four additional barangays along the national highway. “LANDBANK has always been a responsive and reliable partner servicing the needs of our municipality. The approval of our new loan will certainly boost the morale of local leaders as it manifests the Bank’s confidence in their leadership and serves as an affirmation of the meaningful programs that we undertake,” said Can-avid Mayor Germino. LANDBANK and the municipal government of Can-Avid have been development partners since 1992, when LANDBANK first became the depository bank of the LGU. The Bank also granted the Can-avid LGU a P14.92-million term loan in 2007 for farm-to-market roads, which opened access to remote barangays and farm areas, easing the transportation of agricultural products to the market. In May 2017, a LANDBANK Easy Access Facility (LEAF) was also opened in Can-avid located at the Municipal Building ground floor. Supporting local development LANDBANK’s financial services support local programs and projects geared towards accelerating local growth, which includes the construction of necessary infrastructure and improved delivery of basic services. In 2019 alone, LANDBANK financed more than 152,000 kilometers of farm-to-market roads, the construction and renovation of 12 hospital buildings, 33 school buildings, and 354 classrooms, and assisted 37,125 new households get connected with potable water nationwide. Aside from its regular loans, LANDBANK also helps LGUs of rice-producing provinces through the PALAY ng Lalawigan (PAlay aLAY sa Magsasaka ng Lalawigan) Program to procure palay produced by their local farmers, as well as farm machineries and post-harvest facilities. In light of the COVID-19 pandemic, LANDBANK has also allocated P10 billion under the HEAL (Help via Emergency Loan Assistance for LGUs) Program as emergency funding for provincial, city, and municipal governments for the procurement of goods and services to support their respective communities. Last July 29, LANDBANK launched another P10 billion loan program for provincial, city and municipal LGUs called the RISE UP LGUs (Restoration and Invigoration package for a Self-sufficient Economy towards UPgrowth for LGUs) Lending Program to finance the recovery and development of their local economies and communities hit hardest by the health pandemic. 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), or visit the LANDBANK website (www.landbank.com).
READ MORE(left) Pinoy Lingap-Damayan MPC (PLDC) officers and staff led by General Manager Antonio A. Jimenez, Jr., welcomes Cooperative Development Authority (CDA) Region V Director Atty. Ma. Lourdes P. Pacao and LANDBANK Albay Lending Center Account Officer Armel A. Alcantara to their office building in Virac, Catanduanes. (right photos) PLDC farmer-members dry abaca fibers and prepare for its shipment. VIRAC, Catanduanes – Pursuing a great vision requires a leap of faith. This proved to be true for a small group of Catandunganons when they resigned from their day jobs at a rural bank 10 years ago to start the People’s Livelihood Development Cooperative, which eventually became the Pinoy Lingap-Damayan Multi-Purpose Cooperative (PLDC), now one of the biggest cooperative in the province of Catanduanes and the Bicol region, with more than 12,000 members. PLDC, a cooperative engaged in microfinancing, and abaca processing and trading, was formed because 22 rural bank workers believed in their vision of improving the livelihood of their community. But it was a hard start-up for PLDC as a cooperative which had very limited funds to lend to its members. Due to financial problems, new members hesitated to join, while existing ones had to leave. “Even my fellow founding members almost lost hope in our cooperative. But I made them realize that giving up would waste all our hard work and efforts for PLDC. I asked them for a little more patience, which eventually paid off,” said Antonio A. Jimenez, Jr., General Manager of PLDC. They held on to keep the cooperative afloat until finally, in September 2011, LANDBANK offered a helping hand, granting them a rediscounting line to finance livelihood projects of its members, a lifeline that kept PLDC afloat, and helped it flourish. Soon, its members and capitalization continued to grow, and PLDC started expanding its operations, from offering micro-financing services to abaca processing and trading. The co-op’s venture into the abaca industry offered an alternative market for abaca farmers in the province to sell their produce, which challenged the monopoly of traders who set prices too low. Because PLDC offered higher prices, traders were also forced to increase theirs to be at par with what the co-op was offering, thus helping stabilize and even increase the market price of abaca in the province. For over 10 years, PLDC goes around the barangays to buy and haul abaca, saving farmers time and transportation expenses in going to the town proper to sell their produce. To date, the cooperative assists around 4,260 abaca farmers, and generates employment to more than a hundred locals, proving that the co-op is as resilient as the fibers of abaca. Aside from abaca processing and trading, PLDC still offered financial services to their members, financing projects such as family-managed micro-businesses, low-cost housing construction and improvement, education of their children, and family emergency needs. “We want to thank LANDBANK for trusting our cooperative. If it weren’t for them, our vision wouldn’t have become a reality. By providing us financial assistance, we were able to extend and help those who needed it the most–the farmers,” added Jimenez. At present, PLDC remains LANDBANK’s major growth partner in Catanduanes, with a credit line covering three facilities: rediscounting line, working capital for abaca trading/processing, and term loan for the cooperative’s office building. They have also expanded into four branches covering 11 towns of Catanduanes.
READ MOREIn celebration of National Coconut Month and the 34th National Coconut Week from August 24 to 30, 2020, state-run Land Bank of the Philippines (LANDBANK) assured stakeholders of the coconut and coffee industries of the Bank’s available credit facilities designed to help improve their operations and income. On the last day of the five-day webinar series, “Coco-Kwentuhan sa Negosyo,” organized by the Philippine Coconut Authority (PCA) and the Coalition for Agriculture Modernization in the Philippines, Inc. (CAMP) last August 28, LANDBANK President and CEO Cecilia C. Borromeo said the Bank stands ready to support coconut and coffee stakeholders through its existing lending programs with low interest rates. Under the Coconut Production and Processing Financing (Coco-Financing) Program, LANDBANK is extending credit assistance to coconut farmers and other industry stakeholders engaged in the production and processing of coconut-based products. The Bank is also providing credit support to stakeholders involved in the production of high-value crops like coffee, as well as abaca, banana, cacao, rubber, and vegetables, through the Sulong Saka Program or High Value Crops Financing Program. Aside from promoting crop production, the Program also supports projects that involve the processing and marketing of high value commodities. The LANDBANK Coco-Financing Program and Sulong Saka Program are open to individual small farm holders, Small and Medium Enterprises (SMEs), cooperatives and farmers’ association, large agribusiness enterprises/corporations, Local Government Units (LGUs), Non-Government Organizations (NGOs), and Countryside Financial Institutions (CFIs). Eligible borrowers may apply for a loan under these programs with an affordable interest based on prevailing market benchmark rate. For smallholder farmer, interest rate of 5% per annum to fund coconut and coffee production, including new plantation, replanting, rejuvenation and rehabilitation; establishment of nursery gardens; post-harvest activities such as fermentation, drying, roasting, grinding/packaging and storage; processing/milling; and manufacturing and trading. Production loans under the Coco-Financing Program and Sulong Saka Program are payable based on crop cycle/gestation and payback period of the project. Meanwhile, tenor for fixed asset acquisition is based on project cash flow but not more than the economic useful life of fixed assets or remaining useful life for second hand/refurbished machines. For permanent working capital and working capital, tenor of up to three (3) years and one (1) year, respectively, is provided. President Borromeo also expressed support for the establishment of coconut-based farming systems, and the adoption of coconut-coffee intercropping to help coconut farmers become more profitable. As explained by National Scientist and CAMP Chairman Dr. Emil Q. Javier during the webinar, coconut-based farming system is the practice of growing other high-value crops, such as coffee, cacao, bananas, papaya, pineapple and vegetables, under the coconuts. Considering the increasing demand for coffee in the country, he said that intercropping of coffee with coconut trees will help farmers generate more income. “We fully agree that a coconut-based farming system will increase productivity and farmers’ income, and promote value-adding operation. We also support promoting the adoption of coconut-coffee intercrop. Aside from the technical requirement for shade to young coffee plants, this production model will lead to increased land productivity and farmers’ income,” President Borromeo said. Interested borrowers of the LANDBANK Coco-Financing Program and Sulong Saka Program 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 MOREBus operators in need of capital to modernize their fleet may avail of a new lending program being offered by the Land Bank of the Philippines (LANDBANK) The state-owned bank has initially earmarked P3 billion for its I-RESCUE for BUS Transport (Interim REhabilitation Support to Cushion Unfavorably-affected Enterprises by Covid-19 for Better Urban Services Transport) Lending Program. This targets public transport cooperatives and corporations for the purchase of modern public utility buses, in support of the Metro Manila Bus Modernization Program of the Department of Transportation (DOTr) and the Land Transportation Franchising and Regulatory Board (LTFRB). “The I-RESCUE for BUS Transport Lending Program offers responsive financing to PUB operators to invest in new buses equipped with the latest innovative technology. This also forms part of LANDBANK’s support to the DOTr and LTFRB towards building a modernized transport system that provides commuters with safe, reliable, and convenient transportation services,” LANDBANK President and CEO Cecilia C. Borromeo said. Qualified enterprises may borrow up to eighty percent (80%) of the acquisition cost of the PUB, at an affordable fixed interest rate of 5% per annum for the first three (3) years—payable up to a maximum of seven (7) years, inclusive of the two-year grace period on principal. The DOTr launched the Public Utility Vehicle Modernization Program in 2017, with the goal of making the country's public transportation system efficient and environmentally friendly. The program calls for the phasing out not just buses but also jeepneys and other public utility vehicles that are at least 15 years old and replacing them with safer, more comfortable, and more environmentally-friendly alternatives LANDBANK will make available the I-RESCUE for BUS Transport Lending Program until December 31, 2021. 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), or visit the LANDBANK website (www.landbank.com).
READ MOREPhilippine Army personnel from Camp O’Donnell in Capas, Tarlac show-off their new LANDBANK Visa Debit Cards acquired through the LANDBANK Digital Onboarding System (DOBS)—an online account opening platform that reduces the account opening time and simplifies the account enrolment process for the Bank’s clients. For its efficient online account opening through the Digital Onboarding System (DOBS), state-owned Land Bank of the Philippines (LANDBANK) has received a commendation from the Philippine Army (PA) for making it easier for new clients like Army recruits to open payroll accounts online. In a letter addressed to LANDBANK President and CEO Cecilia C. Borromeo, PA Finance Center Director Col. Seigfred C. Tubalado expressed his gratitude to the Bank as DOBS has allowed their new enlisted personnel to conveniently open LANDBANK ATM payroll accounts. “We are elated to have benefitted from the DOBS. This is a welcome development as the system complements with the Finance Center Philippine Army’s commitment to continually provide effective and efficient financial services for the Philippine Army,” said Col. Tublado in his letter. Launched in 2019, the LANDBANK DOBS is a pioneering web application among Philippine banks that reduces the account opening time from 30-45 minutes to only 10 minutes turnaround time. It effectively simplifies the account enrolment process for individuals and institutional clients, both private and government. “The timely acquisition of an ATM payroll account card prior to deployment in the field has been crucial to our soldier’s sense of well-being, and has helped many to focus on the accomplishments of the mission,” Col. Tublado added. The Philippine Army is among the various government agencies that have utilized the DOBS for its hassle-free features, with a total of 1,717 payroll accounts opened through the online system for new Army recruits attending pre-entry courses at the PA’s Armor School, Armor Division stationed at Camp O’Donnell in Capas, Tarlac. “This commendation is a proof that LANDBANK is on the right track in providing more accessible services for our stakeholders. As we adapt to the changing landscape of the banking industry, we will continue to improve and digitize our systems to deliver a more delightful banking experience to our clients,” President Borromeo said. Even with just a year of implementation, the DOBS has already recorded a total of 988,711 accounts opened as of end-August 2020. This milestone led to the addition of a new feature which now allows existing DOBS account holders to update their information through the system. Opening an account through the DOBS also provides automatic enrollment to the LANDBANK iAccess, the Bank’s internet banking system, that aims to decongest client visits in its branches, especially during the pandemic. This automatic enrollment also allows clients to enjoy the full features of the LANDBANK Mobile App for convenient banking transactions through their smartphones, and the LANDBANK Link.BizPortal for payment of products and services to the enrolled merchants in the system. For this banking innovation, LANDBANK has been recognized as “Asia’s Most Inclusive Bank” by the Financial Insights Innovation Awards 2019, and was conferred as “Digital Trailblazer in Financial Services” by the Bangko Sentral ng Pilipinas (BSP). Access the DOBS through the LANDBANK’s official website (www.landbank.com) or through the Digital Corner of selected LANDBANK branches dedicated for walk-in clients who wish to access the system. For more information about LANDBANK’s DOBS, clients may contact the nearest open LANDBANK 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 MORELANDBANK MOBILE BANKING APPLICATION (MBA) User Guide for LANDBANK Mastercard Credit Cardholders Table of Contents 1. Activate your credit card 2. View your account details 3. View your Statements of Account 4. Change the PIN of your credit card 5. Pay your credit card 6. FAQs ACTIVATE YOUR CREDIT CARD • In the LANDBANK Mobile Banking app, tap the Mobile Banking icon then log in using your iAccess ID and password, or Face ID or Biometrics, if supported by your phone. • Upon successful login, go to the More menu. Select Activate Credit Card. • Enter your credit card number and expiry date. Enter the OTP sent to your registered mobile number and click submit. Then confirm the activation of your credit card. VIEW YOUR ACCOUNT DETAILS • In the LANDBANK Mobile Banking app, tap the Mobile Banking icon then log in using your iAccess ID and password, or Face ID or Biometrics, if supported by your phone. • If your credit card is not yet registered, go to the More menu. Select Register1 Credit Card. Enter the OTP sent to your registered mobile number and click submit. Then confirm the registration of your credit card. • In the Accounts menu, click the Mastercard credit card account to view its details: ✓ Credit Limit ✓ Available Credit Limit ✓ Outstanding Amount with Instalment ✓ Outstanding Amount without Instalment ✓ Available Cash Limit ✓ Last Payment Date ✓ Last Payment Amount ✓ Statement Balance ✓ Statement Date ✓ Minimum Amount Due ✓ Payment Due Date ✓ Loyalty points 1To unregister, go to the More menu, then tap Unregister Credit Card. VIEW YOUR STATEMENT OF ACCOUNT • To view your latest statement of account (SOA), from the Credit Card Account Inquiry screen, select Statement of Account. • You may view your Statement of Account for the last three (3) months. CHANGE THE PIN OF YOUR CREDIT CARD • In the LANDBANK Mobile Banking app, tap the Mobile Banking icon then log in using your iAccess ID, and password, or Face ID or Biometrics, if supported by your phone. • Upon successful login, go to the More menu. Select Change Credit Card PIN. • Enter your date of birth, CVV and new PIN. • Enter the OTP sent to your registered mobile number and click submit. Then confirm the change in the PIN of your credit card. PAY YOUR CREDIT CARD • In the LANDBANK Mobile Banking app, tap the Mobile Banking icon then log in using your iAccess ID and password, or Face ID or Biometrics, if supported by your phone. • In the Payment menu, select LANDBANK MASTERCARD and the source account to be debited. • Enter your 16-digit credit card number and the amount to be paid. Then click submit. • Confirm the details before finalizing the transaction. • A screen shall appear to confirm that transaction has been successful and that receipt was sent to your mail. FREQUENTLY ASKED QUESTIONS Click here for the FAQs. For inquiries, you may contact our 24/7 Customer Care Hotline at (02) 8-405-7000 or 1-800-10-405-7000 (PLDT Domestic Toll Free Hotline), or send an email to customercare@mail.landbank.com.
READ MOREAs of Fri, April 25, 2025
| Buying | Selling | |
|---|---|---|
| USD | 56.25 | 56.75 |
| JPY | 0.388752 | 0.403776 |
| EUR | 63.163815 | 65.607824 |
| GBP | 73.988728 | 76.851588 |
| HKD | 7.223177 | 7.761414 |
As of Thu, April 24, 2025
| UITF | NAVPU |
|---|---|
| Cash Management Fund | 1.557366 |
| Money Market Fund | 1.310646 |
| PERA Money Market Fund | 1.023632 |
| Medium-Term Bond Fund | 2.470334 |
| Bond Fund | 2.024273 |
| PERA Bond Fund | 1.198883 |
| Balanced Fund | 2.585336 |
| Growth Fund | 2.562157 |
| Alpha Equity Fund | 2.96484 |
| Blue Chip Equity Fund | 0.954534 |
| Equity Fund | 0.773163 |
| High Dividend Equity Fund | 1.002938 |
| US$ Money Market Fund | 1.431822 |
| Global $ Fund | 1.518293 |
| Money Market Plus Fund | 1.223015 |
