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READ MOREPresident Rodrigo Roa Duterte led the distribution of land titles, joined by DAR Secretary John Castriciones and LANDBANK President and CEO Cecilia C. Borromeo. Land Bank of the Philippines (LANDBANK) President and CEO Cecilia C. Borromeo joined President Rodrigo Roa Duterte and Department of Agrarian Reform (DAR) Secretary John Castriciones in distributing Certificates of Land Ownership Awards (CLOAs) and Emancipation Patents (EPs) to Agrarian Reform Beneficiaries (ARBs) at the DAR Central Office in Quezon City, last August 27, 2019. The said distribution is part of the 31st anniversary celebration of the Comprehensive Agrarian Reform Program, a long-term land reform program managed by DAR which aims to grant landless farmers and farm workers ownership of agricultural lands. A total of 40,242 CLOAs and 6,267 EPs, covering a combined land area of 70,249 hectares were turned over by LANDBANK to DAR, which were distributed to ARBs from Regions III (Central Luzon), IV-A (CALABARZON), and IV-B (MIMAROPA). According to Castriciones, DAR is also expediting land acquisition and land distribution in response to President Duterte’s directive to accelerate the implementation of CARP. LANDBANK continues to intensify its support to ARBs as a financial intermediary of CARP; having turned over to DAR a total of 208,895 CLOAs and EPs covering a total land area of 354,783 hectares.
READ MOREThe Land Bank of the Philippines is taking steps to make its direct lending programs more accessible and affordable for small farmers and fishers (SFFs), in line with its aggressive drive to intensify support to the sector. “We understand that applying for loans can be intimidating, especially for small farmers and fishers, so we have started making basic improvements in our processes to make it easier for them to avail of loans,” said LANDBANK President and CEO Cecilia C. Borromeo. Among the basic enhancements which the Bank made is the simplification of the loan application form, which has been condensed into one document – from what used to be three separate documents (i.e. Application Form, Sworn Statement/Attestation, and Data Privacy Consent). Completing the form is also now more straightforward with mostly tick boxes, to make it easier for farmers and fishers. The promissory note which used to be a 14-page document has also been simplified and shortened to one page. Basic documentary requirements have likewise been trimmed down. SFF borrowers of the Agricultural Competitiveness Enhancement Fund (ACEF) Lending Program, for instance, will only need to submit a loan application form, a simple farm plan, and barangay clearance. More affordable The Bank also made its programs more affordable by standardizing the interest rates at 5% per annum for most direct lending programs for SFFs. These include the Accessible Funds for Delivery to Agrarian Reform Beneficiaries (AFFORD-ARBs) Program, which provides loans to finance production of rice, corn, and high-value crops, as well as the acquisition of small farm implements. Retail lending programs for SFFs that the Bank administers for the Department of Agriculture also now have interest rates fixed at 2% p.a. These include the ACEF Lending Program and the Socialized Credit Program under the Sugarcane Industry Development Act (SCP-SIDA) funded by the Sugar Regulatory Administration. Also available at an interest rate of 2% p.a. is the Expanded Rice Credit Assistance under the Rice Competitiveness Enhancement Fund (ERCA-RCEF). Under the Program, LANDBANK will lend up to P500 million annually for the next six years to rice farmers registered in the Registry System on Basic Sectors in Agriculture or RSBSA, and to DA-accredited cooperatives. For on-lending by cooperatives under ERCA-RCEF, interest rate is at 0% p.a., as long as effective pass-on rate to end borrowers is not higher than 6% p.a. Faster Processing of loan applications is also quicker – with average turn-around time of just one day as against the maximum 10-days commitment to the Governance Commission for GOCCs. This is provided that the borrower submitted complete documents and credit/background investigation is favourable. “This is just the beginning as we are actively looking for ways to further improve the loan application process for our farmer and fisher borrowers. Through these efforts, we hope to encourage them to go to LANDBANK instead of borrowing from informal lenders who charge significantly higher rates,” Borromeo added.
READ MOREThe Land Bank of the Philippines (LANDBANK) started releasing Tuesday (April 7) cash aid totaling P33,408,000.00 or P8,000 each to 4,176 Transport Network Vehicle Service (TNVS) drivers in the National Capital Region to help them cope with the suspension of mass public transportation amid the enhanced community quarantine in Luzon. The financial assistance is part of the Memorandum of Agreement (MOA) signed last April 3, 2020 between LANDBANK, the Department of Social Welfare and Development (DSWD) and the Land Transportation Franchising and Regulatory Board (LTFRB) for the distribution of emergency subsidy to qualified drivers of TNVS, Public Utility Jeeps (PUJs), UV Express (UVs), Public Utility Bus (PUBs), Point-to-Point Bus (P2P), Taxi, School Transport, Tourist Transport, and Motorcycle (MC) Taxi. Beneficiaries of the Pantawid Pamilyang Pilipino Program (4Ps) are not covered by this cash assistance and have been excluded by DSWD to avoid duplication of benefits. The cash aid may be claimed via over-the-counter transactions from the nearest open LANDBANK branch. LANDBANK is waiving all fees and charges for the cash grant. “We are working closely with the DSWD and LTFRB for the efficient and effective distribution of emergency subsidy to our PUV drivers. Rest assured that LANDBANK will continuously support the national government in carrying out social protection programs to combat COVID-19,” said LANDBANK President Cecilia C. Borromeo. The cash grant is in line with the passage of Republic Act No. 11469 or the “Bayanihan to Heal as One” Act and the issuance of DSWD-DOLE-DTI-DA-DOF-DBM Joint Memorandum Circular No. 1, Series of 2020 or the “Special Guidelines on the Provision of Social Amelioration Measures.” For more updates, please follow, like, and share the official LANDBANK social media accounts—for Facebook and Instagram: @landbankofficial, and for Twitter: @LBP_Official, and the LANDBANK website: www.landbank.com.
READ MOREThe Land Bank of the Philippines (LANDBANK) today said it will implement additional measures to strictly enforce social distancing in its branches as it continues to release the P8,000 cash assistance to a total of 36,946 drivers of public utility vehicles (PUVs) in the National Capital Region (NCR). In a statement, LANDBANK said it is strictly observing social distancing inside and within the premises of its branches nationwide. The state-owned bank said it has already coordinated with the Land Transportation Franchising and Regulatory Board (LTFRB), concerned local government units (LGUs), and the Philippine National Police (PNP) for assistance in crowd management, and to help safeguard the welfare of its clients against the CoVid-19 pandemic. Likewise, LTFRB and LANDBANK said it will release to at least 500 beneficiaries per branch, per day, to control the queuing system and waiting time. The bank started distributing the cash grants last April 7, 2020. After the Holy Week, an unusually large volume of drivers rushed to LANDBANK branches to claim their cash grants, which is part of the social amelioration program (SAP) of the national government in line with the implementation of Republic Act No. 11469 or the “Bayanihan to Heal as One Act.” The financial assistance is in partnership with the Department of Social Welfare and Development (DSWD) and the LTFRB for the distribution of emergency subsidy to qualified drivers of Transport Network Vehicle Service (TNVS), Public Utility Jeeps (PUJs), UV Express (UVs), Public Utility Bus (PUBs), Point-to-Point Bus (P2P), Taxi, School Transport, Tourist Transport, and Motorcycle (MC) Taxi.
READ MORESan Miguel Multi-Purpose Cooperative (SAMMUCO) Board of Directors and Management Team led by General Manager Rev. Ariel M. Gonzales (3rd from right). The cooperative’s services include loans for palay and corn production, and rental of farm tractors (inset) acquired through Land Bank of the Philippines (LANDBANK), helping local farmers modernize their production. SABLAYAN, Occidental Mindoro – In the remote sitio of San Miguel in Barangay Claudio Salgado, farmers here have learned to fend for themselves. Mostly living without the conveniences found in larger towns and cities, including access to financial services, they are left with no other choice but to turn to informal lenders to fund their crop production. This prompted Baptist Pastor Rev. Ariel M. Gonzales to form a group of 16 farmers from their church. Pooling P1,000 from each member as initial capital, the group started to offer loans to farmers with an affordable interest rate. In December 1996, with financial support from the Gintong Ani Program of the Department of Agriculture (DA) and Land Bank of the Philippines (LANDBANK), Pastor Ariel established the San Miguel Multi-Purpose Cooperative (SAMMUCO), with him acting as its general manager. A year later, with the co-op’s membership base steadily growing, Pastor Ariel sought LANDBANK’s assistance through a Short-Term Loan Line (STLL) to finance their relending services for palay and corn production, improve its facilities, and expand to other businesses. With LANDBANK’s assistance, SAMMUCO is now also able to offer loans at a lower interest rate of 1% per month. “We have a great relationship with LANDBANK for the last 20 years. We saw our partnership progress, and we thank them for providing us with financial assistance at a very low interest rate,” said Pastor Ariel. Today, SAMMUCO buys the produce of its members in bulk at prevailing prices, and sells these in nearby provinces such as Oriental Mindoro and Batangas, since accessibility and transportation remains to be a challenge for small farmers. The co-op has also diversified its business and now runs a gas station, water station, plus plans to open a one-stop shop, and a mini hardware store. “Gaining the community’s trust proved to be a challenge at the beginning because most of the cooperatives in the area did not prosper, but we persisted. Everyone had their doubts but we overcame that by being transparent. We instilled a culture of trust among our members,” Pastor Ariel said. Currently, SAMMUCO has 280 farmer-members in their area and in neighboring barangays. The co-op also offers rental of post-harvest facilities such as harvesters, tractors, warehouse, and solar and mechanical dryers. SAMMUCO also prioritizes continuous education by offering technical skills trainings to its members. “Malayo kami sa bayan, more than 50 kilometers, pero napaabot pa rin sa amin ng LANDBANK ang kanilang serbisyo sa amin. And we are happy that we are able to contribute to our community, generate jobs, and help enrich the lives of our farmer-members. Their children were able to finish college. LANDBANK has been providing us with moral and financial support to achieve all of this. They never fail to guide us in managing our cooperative. Their support is what keeps us going,” Pastor Ariel added. For the past 57 years, LANDBANK remains steadfast in delivering intensified support to small farmers and fishers (SFFs). As of end-June this year, LANDBANK has extended loans to agriculture sector amounting to P227.47 Billion—P7.97 Billion or 3.6 percent more than the P219.5 Billion as of June 2019. 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.
READ MOREEnjoy 5% discount sitewide and FREE shipping nationwide, when you spend with your LANDBANK Visa Debit Card at Spectrum Fair Online. Minimum purchase of P3,000. Promotion Mechanics / Terms and Conditions: 1. All transactions must be made within the Promo Period to avail of the promo. 2. The promo entitles LANDBANK Visa Debit Cardholders to 5% discount sitewide and FREE shipping nationwide, subject to minimum spend of Php 3,000. 3. To avail of the promo, LANDBANK Visa Debit Cardholder must complete the following steps: a. Go to www.spectrumfair.com to check all available items b. Click on the item you want to "add to cart" c. Check your chosen item and quantity before proceeding to "Checkout" d. Input "Buyer Information"and promo code SPECTRUMVISA e. Input "Shipping Details f. Proceed to "Payment"choose "Paymaya"and input LANDBANK Visa Debit Card details
READ MOREThe SM Store and Mastercard - Get P1200 Off in Lazada December 7 to December 31, 2020 Promotion Mechanics: The promotion entitles the cardholder to a discount of P1200 for a minimum spend of P3,000. The promotion is valid on purchases using a Mastercard-branded credit, debit and prepaid card issued in the Philippines Promotion Period is from December 7 to December 31, 2020. All transactions must be made within the Promotion Period to avail of the Promotion. To avail of the offer, the cardholder must complete the following steps: Go to www.lazada.com.ph/TheSMSTORE download the Lazada app through the App Store or Google Play Select Credit/Debit Card as mode of payment and enter the details of a qualified Mastercard Card Before checkout, enter the valid Mastercard Credit, Debit or Prepaid Card to avail of the promotion Use Voucher Code MCSM1200 Voucher code is valid for use once every day during valid promo period on the App, deskstop and mobile site. Applicable to new and existing Lazada users. The discount is on top of regular or sale items in Lazada as long as the Mastercard Credit, Debit or Prepaid Card is used upon checkout. The discount cannot be exchanged for cash or other products. The promotion is subject to the Terms and Conditions of The SM Store and Lazada. For questions or clarifications, please contact Lazada Customer Care by clicking the chat button at http://www.lazada.com.ph/contact Per DTI Fair Trade Permit No. FTEB- Series of 2020
READ MORELANDBANK Sagay Branch facilitates the account opening of unbanked Philippine Identification System (PhilSys) registrants at a registration center in Sagay City, Negros Occidental on June 2, 2021. The Land Bank of the Philippines (LANDBANK) has ramped-up efforts to bring more unbanked Filipinos into the formal banking system, in support for the National Government’s financial inclusion agenda. As of May 31, 2021, LANDBANK has onboarded a total of 3,794,882 unbanked National ID registrants for transaction accounts, of whom 1,071,177 have already received their LANDBANK Agent Banking Cards (ABCs). The cards, which were provided free-of-charge and with no initial deposit requirement, form part of the Bank’s ongoing partnership with the Philippine Statistics Authority (PSA) to co-locate in the Philippine Identification System (PhilSys) rollouts nationwide and provide unbanked registrants with their own transaction accounts. “As we commemorate Independence Day centered on unity, LANDBANK continues to take part in the National Government’s whole-of-nation approach towards reaching and serving more unbanked and underserved Filipinos, helping them to be financially independent. We are one with government partners in fast-tracking initiatives to bridge the financial inclusion gap in the country,” said LANDBANK President and CEO Cecilia C. Borromeo. The LANDBANK ABCs are given to unbanked PhilSys registrants through LANDBANK account opening booths at designated co-location areas. As of end-May 2021, LANDBANK has co-located in more than 850 PhilSys registration centers in 32 pilot provinces nationwide. Cardholders can use the LANDBANK ABCs to cash-in, cash-out, and transfer funds at any LANDBANK Branch or Agent Banking Partner. They can also withdraw cash at Mastercard-accepting ATMs, perform cashless transactions, shop online, and receive government subsidies digitally. In the future, the LANDBANK ABCs may be used as contactless cards to pay fares in public transport modes under the Automatic Fare Collection System (AFCS) project of the Department of Transportation (DOTr). With its various efforts to boost financial inclusion in the country, LANDBANK is doing its share in reducing inequality, in helping to free the unbanked from poverty, and in promoting inclusive growth. Financial inclusion provides the unbanked opportunities to save, invest, and avail of affordable credit, leading towards their financial independence. By banking the unbanked, LANDBANK enables government cash grants and pensions to be credited directly into their accounts through cashless fund transfers. Delivering social protection programs Together with the Department of Social Welfare and Development (DSWD), LANDBANK has also distributed a total of 5.6 million LANDBANK Cash Cards to beneficiaries of social protection program nationwide as of May 31, 2021. Of this total, 4.4 million LANDBANK Cash Cards were delivered to DSWD’s Conditional Cash Transfer (CCT) Program beneficiaries. The remaining 1.2 million cash cards were distributed to Unconditional Cash Transfer (UCT) Program beneficiaries, composed of 596,761 and 643,562 beneficiaries under the Social Pension Program for Indigent Senior Citizens and poor households in the DSWD’s Listahanan database, respectively. Through the LANDBANK Cash Cards, beneficiaries receive their government subsidy in a timely, safe, and convenient manner. They can withdraw from LANDBANK’s ATMs, partner cash-out agents, as well as from the ATMs of BancNet-member banks nationwide. They can also use their cards for cashless transactions through point-of-sale (POS) machines. Reaching unbanked and underserved municipalities To reach more unbanked and underserved areas, LANDBANK is also expanding its Agent Banking Program by partnering with more cooperatives, rural banks, local government units, and micro, small and medium enterprises (MSMEs), among others, to help provide basic banking services. From the Program’s full implementation in March 2020 up to May 31, 2021, LANDBANK has certified 111 Full-Suite Agent Banking Partners (ABPs) operating in 48 unbanked municipalities and 159 underserved municipalities or those without a LANDBANK branch. These ABPs facilitate POS cash-out and cash-in services, fund transfers, balance inquiries, bills payment, and account opening with electronic know-your-customer (eKYC) and issuance of LANDBANK ABCs. LANDBANK has also partnered with a total of 645 POS cash-out only ABPs as of end-May 2021, utilizing 959 terminals deployed in 130 unbanked municipalities and 829 underserved municipalities or those without a LANDBANK branch. These POS devices allow cash-out transactions not only for LANDBANK-issued cards but also for other participating BancNet ATM cards. From January to May 2021, a total of 1,665,112 cash-out transactions amounting to P8.19 billion were facilitated by LANDBANK’s ABPs. These represent increases of 4.5% and 11% year-on-year for volume of transactions and value, respectively. Banking on technology The state-run Bank also launched on May 12, 2021, the Digital On-Boarding System Mobile or DOBS Mobile which facilitates online savings account opening anytime, anywhere, in as fast as 10 to 15 minutes—free-of-charge and with no initial deposit requirement—without the need to visit a LANDBANK branch. Powered by Artificial Intelligence, the LANDBANK DOBS Mobile allows interested clients to fill out application forms online, take a “selfie” and upload a valid identification card through the LANDBANK Mobile Banking App (MBA) on their mobile device. This eliminates the need to visit and line up in branches to open an account and support the government’s health protocols during this pandemic. Data from the Bangko Sentral ng Pilipinas (BSP) showed that a basic indicator of financial inclusion for sustainable and equitable national development is ownership of an account held in banks, e-money wallets, and microfinance institutions (MFIs) used to save, send or receive remittance, as well as for income, benefits, and bills payment. In its 2019 financial inclusion survey, the BSP said only 20.9 million Filipinos or 23% of the population own an account. 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).
READ MOREAs of Fri, December 13, 2024
| Buying | Selling | |
|---|---|---|
| USD | 57.95 | 58.45 |
| JPY | 0.374332 | 0.388693 |
| EUR | 59.803684 | 62.103242 |
| GBP | 72.429414 | 75.214454 |
| HKD | 7.42574 | 7.977198 |
As of Thu, December 12, 2024
| UITF | NAVPU |
|---|---|
| Cash Management Fund | 1.532778 |
| Money Market Fund | 1.291687 |
| Money Market Plus Fund | 1.203529 |
| PERA Money Market Fund | 1.014097 |
| Medium-Term Bond Fund | 2.440389 |
| Bond Fund | 2.021931 |
| PERA Bond Fund | 1.193419 |
| Balanced Fund | 2.629835 |
| Growth Fund | 2.598313 |
| Alpha Equity Fund | 3.166211 |
| Blue Chip Equity Fund | 0.988717 |
| Equity Fund | 0.829423 |
| High Dividend Equity Fund | 0.989233 |
| US$ Money Market Fund | 1.416741 |
| Global $ Fund | 1.499162 |
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