MALOLOS CITY, Bulacan – The Land Bank of the Philippines (LANDBANK) Malolos Highway Branch recently moved to a three-storey building along McArthur Highway in Brgy. Dakila, Malolos City, Bulacan to provide better banking services to increasing clients in the area. Strategically located within the city’s commercial area, the new site provides a bigger interior and comfortable space, with more parking slots, and can safely accommodate up to 30 clients inside the Branch at a time, ensuring physical distancing of approximately two (2) meters apart. The soft opening of the LANDBANK Malolos Highway Branch on April 19, 2021, was led by LANDBANK officials, namely, Central Luzon Branches Group Head, First Vice President Sylvia C. Lim; Bulacan Lending Center Head, Assistant Vice President Ranilo B. Jimenez; and Malolos Highway Branch Head, Assistant Vice President Paulino S. Tiongson, Jr.
READ MORELANDBANK joins the Philippine Deposit Insurance Corporation in celebrating the 19th Depositor Protection and Awareness Week (DPAW). Pursuant to Proclamation No. 358, issued in 2003, DPAW is annually observed every June 16 to 22 to strengthen the protection of small, unsophisticated depositors and complement the government’s thrust for sustained economic growth and development. As we celebrate the 19th DPAW, may we embody the value of saving and constantly practice the theme, “Maniguro, Mag-impok, Mag-deposito sa Bangko.”
READ MOREJune marks the international celebration of Pride Month. Here at LANDBANK, we support diversity and cultivate a healthy work environment with equal opportunity for professional growth and advancement.
READ MOREState-run Land Bank of the Philippines (LANDBANK) has raised to P50 billion the available loanable fund for local businesses adversely affected by the COVID-19 pandemic to accommodate more borrowers. This is the second budget hike made for the LANDBANK I-RESCUE (Interim REhabilitation Support to Cushion Unfavorably affected Enterprises by COVID-19) Lending Program since its launch in April 2020. With an initial fund of P10 billion, the Bank later doubled this to P20 billion in April 2021. The LANDBANK I-RESCUE Lending Program provides credit and loan restructuring assistance to businesses whose operations have been severely affected by the pandemic, through more flexible loan terms and conditions. “Since its launch at the height of the pandemic last year, the I-RESCUE Lending Program has gained wide acceptance from borrowers striving to keep their businesses afloat amid the ongoing crisis. Rest assured that LANDBANK will continue to provide responsive credit assistance to support key sectors and contribute to accelerate the country’s ongoing economic recovery,” said LANDBANK President and CEO Cecilia C. Borromeo. As of May 31, 2021, LANDBANK has approved loans totaling P20.95 billion to a total of 460 borrowers, comprised of 310 micro, small and medium enterprises (MSMEs), 83 cooperatives, 62 large corporations, and five (5) microfinance institutions (MFIs). Of this amount, 93% or P19.53 billion has already been released. Under the I-RESCUE Lending Program, eligible borrowers may loan up to 85% of their emergency or permanent working capital requirements, with an affordable interest rate of 5% per annum for three (3) years, subject to annual re-pricing thereafter, and payable up to 10 years with a maximum of two (2) years grace period on the principal repayment. The Program also offers a sub-credit facility for MSMEs and cooperatives, as well as self-employed individuals duly registered with the Department of Trade and Industry (DTI) and the Securities and Exchange Commission (SEC), classified to be critically affected by the ongoing pandemic. Qualified borrowers may borrow a minimum amount of P100,000 or up to 85% of the actual permanent working capital requirement but not exceeding P3 million, at a lower fixed interest rate of 3% per annum, with no hard collateral requirement, and payable for up to three (3) years. For existing LANDBANK clients, the Program provides loan restructuring assistance via additional loan and extended repayment period, or a combination of means to rehabilitate and restore operational cash flow. The LANDBANK I-RESCUE Lending Program is available until December 31, 2022. Interested borrowers may contact the nearest open LANDBANK Lending Center or Branch nationwide or call LANDBANK’s customer service hotline at (02) 8-405-7000 or at PLDT Domestic Toll Free 1-800-10-405-7000. For more updates, please Follow, Like and Share the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), and join our Viber community (@LANDBANK), or visit the LANDBANK website (www.landbank.com).
READ MOREThe Land Bank of the Philippines (LANDBANK) has asserted that its upcoming merger with the United Coconut Planters Bank (UCPB) will strengthen government efforts to build a stronger, unified banking institution capable of serving coconut farmers and other workers in the agricultural sector. LANDBANK President-CEO Cecilia Borromeo said that the merger will promote unprecedented rural development, in keeping with President Duterte’s goal of expanding financial inclusion among Filipinos, especially those in the countryside who belong to the underserved and unbanked sectors. Borromeo, a former scholar of the Philippine Coconut Producers Federation, Inc. (COCOFED), said coconut farmers will be able to take advantage of the established expertise of LANDBANK in lending to the agriculture and agribusiness sectors. “LANDBANK’s track record of being consistently compliant with the Agri Agra Law shows our commitment to perform our mandate, to empower not only the farmers but all workers in the agriculture sector,” she said. Republic Act No. 10000, or the Agri Agra Law, mandates banks to allot 15 percent of their total lending portfolio for agriculture loans and 10 percent of its total loanable funds to agrarian reform beneficiaries. As of December 2020, LANDBANK’s agriculture loans reached 76.95 percent of its total loan portfolio, significantly above the minimum requirement of 15 percent. Agrarian reform lending, meanwhile, hit 11.52 percent during the same period, also above the 10 percent required under the Agri Agra law. LANDBANK’s agriculture lending has been consistently growing from PHP 222.05 billion in 2018, to PHP 236.31 billion in 2019, and PHP 237.62 billion in 2020. As of end-May 2021, LANDBANK’s loans to agriculture reached PHP 230.02 billion, an increase of PHP 73 million net from the PHP 229.29 billion level in April 2021. The number of farmers and fishers assisted by LANDBANK reached 2,734,572 as of May 2021, an increase of 31,323 from 2,703,249 in April 2021. “With the merged resources of LANDBANK and UCPB, we can bring closer to the farmers our services, as we are able to tap a combined total of 722 branches and servicing units, including those in the provinces,” Borromeo said. She added that the proposed merger “will also be beneficial to existing UCPB clients because they can access the bigger branch and ATM (automated teller machine) network of LANDBANK and will be able to avail of a wider range of products and services such as the LANDBANK digital banking service.” LANDBANK’s management expertise is also expected to provide support to UCPB, thus protecting the interest of coconut farmers in the would-be merged banks. "Our goal is to ensure that we are able to efficiently manage and protect government resources in these banks for the ultimate benefit of the Filipino people. With the merger, we will be in a better position to grow our loan portfolio in order to meet the needs of the people, especially the unbanked and underserved Filipinos," Borromeo said. “The merger will also mean better financial services for UCPB clients, especially those who are in the farm sector. For the clients of both banks, the merger will mean they can now rely on a stronger and better capitalized institution with solid government support,” she added. On the part of the UCPB, Officer-in-Charge (OIC) Liduvino Geron said, “The merger enables UCPB and its clients to benefit from the strength, stability, scale and reach of LANDBANK. This also allows us to pursue our original mandate to serve coconut farmers nationwide while providing a wider range of products and services to our clients composed of individuals, private and government institutions, middle-market companies, and small enterprises nationwide.” Under Executive Order No. 142, President Duterte ordered the LANDBANK and UCPB to enter into a merger applicable to government-owned and -controlled corporations (GOCCs) and recognized by regulatory agencies. LANDBANK, which is the biggest public sector bank in the country, will be the surviving entity under the merger. Once the merger is concluded, LANDBANK will remain as the industry’s second biggest bank in terms of assets and deposits.
READ MOREPromo Mechanics: 1. This promotion is open to all LANDBANK and OFBank Visa Debit Cardholders who receive a cross border remittance via Visa Direct Program with Moneygram and Remitly as initiators from the following originating countries: ORIGINATOR ORIGINATING COUNTRIES MoneyGram USA, UK, France, Germany, Hungary, Romania & Spain Remitly USA 2. A cash incentive amounting to $5 (or local currency equivalent based on Visa’s applicable currency conversion rates) will be credited to the qualified Visa Debit Cardholder’s account within a minimum of fourteen (14) business days up to forty (40) business days (from the date of receipt of funds under the Qualifying Visa Direct Program). 3. There is no minimum remittance amount. 4. Promo period is from July 1, 2021 to September 30, 2021. Terms and Conditions: Each qualified Visa Debit Card account will be entitled to only one (1) cash credit/incentive, regardless of the number of remittances received into that account during the Promotion Period. For the avoidance of doubt, no game of chance or sweepstakes/lucky draws will be involved in the provision of benefits under the Promotion. Remittance must be from the following Visa Direct Program and originating countries only: ORIGINATOR ORIGINATING COUNTRIES MoneyGram USA, UK, France, Germany, Hungary, Romania & Spain Remitly USA Cash Credits/incentives are sponsored by Visa who will be fulfilling the crediting on behalf of LANDBANK to qualified Visa Debit accountholders. Visa has no responsibility to any cardholders in relation to the Cash/incentive credits or fulfilment thereof. All participants understand, acknowledge and agree that: Visa is sponsoring the Promotion benefits only and is not the provider of the underlying remittance services or other card services to cardholders; No claim shall be made by any participant against Visa in relation to the receipt or non-receipt of any remittance or other card services. All such claims shall be directed to the participant’s card issuer; and Visa has no responsibility to any participant in relation to the fulfilment of the Cash/incentive Credits. Participants shall contact their issuer for any claim or dispute in relation to the Cash/incentive Credits. To the fullest extent permitted by law, Visa shall not be liable to any person for any loss, damage, expenses or claim (whether direct or indirect, and whether foreseeable or unforeseeable) arising from or in connection with the usage or attempted usage of the Promotion or and/or services provided under the Promotion. By joining this promo, the LANDBANK / OFBank Visa debit accountholder confirms that he/she has read, understood, and agreed to the promo mechanics and its terms & conditions.
READ MORELANDBANK joins the nation in the observance of the Savings Consciousness Week 2021 with the theme, "Pinagpagurang pera ay ingatan, pag-iimpok sa bangko ay simulan". This celebration 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. The celebration runs from June 30 to July 6, 2021.
READ MOREThe completion of the government-approved merger of Land Bank of the Philippines (LANDBANK) and United Coconut Planters Bank (UCPB) will result in combined assets totaling close to ₱3 trillion by the end of the year. As the surviving entity in this merger, LANDBANK will further solidify its place as the second-largest bank in the country in terms of assets, representing a unified, stronger and more resilient institution for promoting inclusive and sustainable rural development. “The merged assets will significantly grow LANDBANK’s loan portfolio directed at servicing the whole agriculture sector, especially coconut farmers, alongside key development industries. The synergy created by the merger will provide a much better position for us to respond to the evolving needs of our diverse clientele, especially the underserved and unbanked,” said LANDBANK President and CEO Cecilia C. Borromeo. Pending the approval of relevant regulatory authorities, LANDBANK expects its acquisition of the shares of stock of UCPB and attendant absorption of its assets and liabilities will similarly expand deposits, loans and capital. Due diligence was likewise conducted by LANDBANK and the transaction went through the review and approval by the Bangko Sentral ng Pilipinas (BSP) and Monetary Board. Based on LANDBANK’s initial projections, the combined Common Equity Tier 1 (CET1) ratio by end-2021 will remain higher than the 11% regulatory requirement of the BSP. Borromeo also emphasized that “LANDBANK is more than capable of absorbing the financial impact of the merger with UCPB. Our ratios will remain comfortably above the standards set by the BSP.” LANDBANK is requesting for regulatory incentives being granted by BSP to banks for mergers and consolidation. “These relief measures will provide the bank the flexibility to manage its capital, achieve operational efficiency, and minimize the expected impact of absorbing UCPB,” Borromeo said. To encourage consolidation and mergers among banks, the BSP grants regulatory incentives under Memorandum No. M-2016-023 dated 21 December 2016. Fueled by the 16.21% increase in deposits which reached P2.123 trillion as of end of the first quarter of 2021, total assets of LANDBANK grew to P2.405 trillion. LANDBANK ranks number 2 among domestic universal banks in terms of asset size. As provided in Executive Order No. 142 signed on June 25, 2021, President Duterte ordered the LANDBANK and UCPB to enter into a merger applicable to government-owned and controlled corporations (GOCCs) and recognized by regulatory agencies. A Technical Working Group (TWG) will be formed Pursuant to Governance Commission for GOCCs (GCG) Memorandum Circular No. 2015-03. The group will be composed of the President and CEO of LANDBANK, the Officer-In-Charge of UCPB, and the duly-designated representatives of the GCG, Securities and Exchange Commission (SEC), Department of Finance (DOF), Department of Budget and Management (DBM), and Commission on Audit (COA). The TWG is tasked to formulate an integration plan and to resolve all matters involving the implementation of the merger. Meanwhile, clients of both LANDBANK and UCPB are being assured that banking services will continue to be unhampered throughout the ongoing merger process, with deposits to remain intact and secured in their current servicing branches. At the same time, both banks assure its employees that all concerns pertaining to personnel matters will be addressed accordingly, and that all actions on human resources will comply with relevant labor rules and regulations. 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 MOREThe Overseas Filipino Bank (OFBank) marked its first successful year as a branchless digital-only bank last June 29 by onboarding clients from a total of 113 countries and territories as of May 31, 2021. These include the top 10 destinations for the deployment of overseas Filipino workers (OFWs), namely Saudi Arabia, United Arab Emirates (UAE), Singapore, Hong Kong, Qatar, Kuwait, Taiwan, Italy, Bahrain, and Malaysia. OFBank’s cash inflow also reached P1.51 billion, composed of P849.9 million and P657 million in domestic and remittance inflows, respectively. Total outflows from withdrawals via over-the-counter (OTC), automated teller machines (ATMs) and electronic banking amounted to P1.25 billion, yielding the Bank an outstanding balance of P256.3 million as of end-May 2021. A wholly-owned subsidiary of the Land Bank of the Philippines (LANDBANK), the OFBank also officially became the very first digital bank in the Philippines after securing a digital banking license from the Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) on March 25, 2021. “The transformation of OFBank as a branchless digital-only bank has allowed it to serve the diverse requirements of overseas Filipinos abroad and their families back home, providing them a convenient, reliable, and secure banking experience,” said OFBank Chair and LANDBANK President and CEO Cecilia C. Borromeo. As a digital-only facility, the OFBank utilizes the Digital Onboarding System with Artificial Intelligence (DOBSAI) which allows OFWs and other Filipinos overseas and their beneficiaries to open a mobile banking deposit account online through supported mobile devices. Digital services available to OFBank account holders include fund transfers, bill payments, and government bond purchases. During the Bureau of the Treasury’s (BTr) Premyo Bonds 2 offering from November to December 2020, a total of 3,517 transactions amounting to P40.7 million were transacted through the bond purchase feature of the OFBank’s Mobile Banking App (MBA). A total of 380 transactions worth P8.3 million were also coursed through the Bank’s mobile app for the BTR’s 25th Tranche of the Retail Treasury Bonds or RTB-25 issuance from February to March 2021. As part of its financial literacy campaign, OFBank conducted 156 webinars and 336 pre-departure orientations for overseas and departing Filipinos between June 2020 and May 2021 to promote its products and services, and discuss the importance of saving, budgeting and investing, among others. The seminars were facilitated in close coordination with the LANDBANK’s Overseas Remittance Group (LBP-ORG), Philippine embassies and consulates, the Philippine Overseas Employment Administration (POEA), and the Overseas Workers Welfare Administration (OWWA). “OFBank has become a trailblazer in the country’s banking industry with its innovative products and services. We strive to continuously upgrade our operations, systems, and processes to deliver accessible and responsive banking solutions for Filipinos worldwide,” said OFBank President and CEO Leila C. Martin. OFBank is on track to enhance its mobile banking app with the inclusion of more payment merchants and the addition of a card-less withdrawal feature, among other enhancements. For more updates, please Follow, Like and Share the official OFBank Facebook Page (@OFBank), or visit the OFBank website (www.ofbank.com.ph).
READ MORELANDBANK Quezon Lending Center Head, Assistant Vice President Joel S. Babaan (standing, 2nd from right) and regional officials from various government agencies sign a Memorandum of Understanding (MOU) to fight hunger and poverty in Quezon Province last May 21, 2021. LUCENA CITY, Quezon – The Land Bank of the Philippines (LANDBANK) inked a Memorandum of Understanding (MOU) with various participating provincial government agencies for the Enhanced Partnership Against Hunger and Poverty (EPAHP) initiative for Quezon Province on May 21, 2021. The MOU was signed in support of the EPAHP’s objectives of mitigating hunger, ensuring food and nutrition security, and reducing poverty in urban and rural communities, including the marginalized sector. Through the LANDBANK Quezon Lending Center, the state-run Bank joined the Provincial Government of Quezon and partner agencies in the province composed of the Department of Agriculture (DA), Department of Agrarian Reform (DAR), Department of Trade and Industry (DTI), Department of Education (DepEd), and National Irrigation Administration (NIA) for the program. “Under the whole-of-government approach, LANDBANK remains one with government partners in the ongoing fight against hunger and poverty. We will continue to provide responsive and accessible financing directed at community-building and countryside development," LANDBANK President and CEO Cecilia C. Borromeo said. The EPAHP is a collaborative program of the national government which aims to contribute to addressing hunger and poverty in the country by converging relevant programs of partner agencies to maximize results for the benefit of the poor and marginalized. Under the MOU, LANDBANK will extend credit support to eligible community-based organizations for food production, processing, and marketing, consistent with its mandate to spur inclusive growth and sustainable development in rural communities and marginalized areas. The MOU signing was led by Quezon Governor Danilo E. Suarez, alongside representatives of local EPAHP-participating agencies, which included DA Agricultural Program Coordinating Officer Rolando P. Cuasay, DAR Provincial Agrarian Reform Program Officer Celestina M. Santayana, DepEd Schools Division Superintendent OIC Elias A. Alicaya, Jr., DTI OIC Provincial Director Julieta L. Tadiosa, NIA Division Manager Engr. Fidel P. Martinez, and LANDBANK Quezon Lending Center Head, Assistant Vice President Joel S. Babaan. Under the EPAHP, efforts toward community-driven development approaches in agro-enterprise, and other livelihood programs and food security programs, aims to enhance the prospects for poverty reduction and hunger elimination in urban and rural areas. 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 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 |
