President Duterte’s all-out support for the Land Bank of the Philippines (LANDBANK) through a capital infusion that is the largest compared to the combined amounts that the institution had received under previous administrations has expanded financial inclusion among Filipinos and provided better services to the underserved sectors of the economy, Finance Secretary Carlos Dominguez III has said. Dominguez said that at the homestretch of the Duterte administration, LANDBANK’s total equity will have grown to P230.4 billion by end-April, which represents a 160-percent increase from its P88.7-billion capital when the President took office in 2016. This feat has made LANDBANK the second largest universal bank and the bank with the highest paid-in capital in the country, Dominguez said. The state-run lender’s financial strength under President Duterte has been used to provide low-interest loans to underserved sectors, especially small farmers and fisherfolk; and extend support to broad sections of the economy, such as healthcare, education, power generation and distribution, water, transportation, and housing, said Dominguez who is also LANDBANK chairman. He said LANDBANK has extended financing support for the construction of over 200 hospitals and the procurement of more than 20,000 patient beds. “Early in your administration, I asked for your permission to allow the Land Bank of the Philippines to expand its asset base and scope of services. You not only gave your permission but also your total support to enable LANDBANK to achieve these goals. It is your administration, Mr. President, that has infused the largest amount of capital into LANDBANK compared with the combined amounts under all other administrations,” Dominguez said during LANDBANK’S historic turnover of 1.36 billion shares of common stock to the government. These new shares of stock in the name of the Republic of the Philippines is worth P136.2 billion. President Duterte received the stock certification from LANDBANK on behalf of the government at Malacañan Palace Monday night. Dominguez said LANDBANK’s capital increase has been prudently managed and used, as the President instructed, to extend more loans to the agriculture sector. By year-end 2021, LANDBANK’S loan portfolio for the agriculture sector stood at P247.9 billion, an 80-percent increase from the P137.6 billion in 2015, Dominguez said. To assist the President in realizing his goal of inclusive and sustainable growth, LANDBANK is also the biggest lender to the local government units (LGUs). “The robust capital infusion reinforced LANDBANK’s financial strength and allowed it to be an effective partner of the government in advancing its development agenda. We have used that strength to better serve the Filipino people,” Dominguez said. LANDBANK’S total equity of P88.7 billion in 2015 steadily rose when President Duterte took office, from P152.49 billion in 2019 to P177.64 billion in 2020, and to P207.68 billion in 2021. “On behalf of the men and women of LANDBANK, I would like to thank you, Mr. President, for the strongest support any President has provided for this institution,” Dominguez said. Dominguez said LANDBANK’s support to other sectors of the economy “will help revive our enterprises and stimulate domestic economic activity.” On top of fulfilling its role as a policy bank, Dominguez said LANDBANK also took the lead in modernizing the banking sector by being instrumental in the establishment of the Overseas Filipino Bank (OFBank), officially the first branchless digital-only bank in the country that now serves overseas Filipinos in 116 countries. “Through your fulfilled promise to our workers abroad, they can now open bank accounts anywhere in the world, conveniently send money to their families, and save as well to grow their hard-earned incomes. They don’t have to go to a branch, they only have to use their cellphone or computer,” Dominguez said. Dominguez also cited LANDBANK’S successful merger with the financially ailing United Coconut Planters Bank (UCPB) that took effect last March 1. “I am pleased to report, Mr. President, that it has successfully implemented this merger with no major glitches or problems. Through the merger, we have reduced the risk of around 87 billion pesos in potential losses for the Philippine Deposit Insurance Corp. (PDIC) by putting the financially weak UCPB under the financially strong LANDBANK,” Dominguez said. He commended outgoing LANDBANK President-CEO Cecilia Borromeo; Executive Vice Presidents Liduvino Geron, Carel Halog, Julio Climaco, Alan Bornas; and Senior Vice President Benjamin Bongolan for their almost three years of hard work and participation in making the LANDBANK-UCPB merger deal happen. Dominguez said that as the distribution arm of the government’s social protection programs, LANDBANK’S cash transfers of P45.5 billion in 2015 to a total of 4.4 million beneficiaries grew to P133.6 billion in 2021 that benefited 10 million recipients nationwide. “LANDBANK’s role in this effort served us well during the pandemic. The Bank will be instrumental in cushioning the impact of the Russia-Ukraine conflict for the most vulnerable sectors of the economy, because the amount you approved of 500 pesos per vulnerable family per month for 6 months will be coursed through LANDBANK. They will be the one to distribute the money through the bank accounts,” Dominguez said. In helping achieve President Duterte’s goal of financial inclusion, LANDBANK provided bank accounts for 7.2 million previously unbanked national ID registrants, and will provide 6.3 million more bank accounts for unbanked Filipinos. “This is the most effective instrument in building a truly inclusive financial system,” Dominguez said. “Overall, I am happy to report that LANDBANK continues to be strong, stable and professionally managed,” he added. This article was lifted from DOF's website (www.dof.gov.ph)
READ MOREShop at Lazada's Epic 10th Birthday Sale using your Visa card to enjoy an extra Php 200 OFF! Promo Mechanics Qualified Cards: Visa Credit, Debit and Prepaid Cards (including all issuers) VISA x LAZADA EPIC 10th BIRTHDAY SALE Promo Period: March 27 to 29, 2022 1. The Promotion is open to all issuers of active Visa Principal or Supplementary Credit, Debit and Prepaid Cardholders. 2. Promo Offer: Shop at Lazada during our Epic 10th Birthday Sale using your Visa card to enjoy an extra Php 200 OFF! • The Promo is valid on regular and sale items at Lazada. • Purchase must be made from March 27, 2022 12:00 am to March 29, 2022 11:59 pm Philippine time. • Discount applies with a minimum spend of P3,500, charged to Visa Credit, Debit and Prepaid Card. Discount is capped at P200. • Discount can be availed through a voucher code to be applied on purchases in Lazada and is open to new and existing Lazada customers. Customers should use the voucher code VISA10BDAY to avail the discount. • Discount will apply when the voucher is entered at the Payment Page and the eligible Visa Credit, Debit and Prepaid Card is selected as the payment option. Customer must check if voucher is applied before proceeding to final check-out. • Discount is not applicable to digital goods, stores with digital goods product/s, milk products for 3 years old below (under the Milk Code) and other goods from blacklisted sellers set by Lazada. 3. Purchase must be made using an eligible Visa Credit, Debit and Prepaid Card from March 27 to 29, 2022. 4. Payment codes cannot be used with other collectible or static code discount vouchers. 5. Transaction must be made within the Promo Period to avail of the Promo. 6. The Promo is valid at Lazada Philippines Smartphone mobile app and website. HOW TO AVAIL 1. Open the Lazada website (www.lazada.com.ph) or download the Lazada app for free via App Store for Apple users or Google Play store for Android users. 2. Select the item/s you wish to purchase then click “Add to Cart”. Prepare your card details for the transaction 3. Click the Shopping Cart icon on the right, topmost portion of the screen to view all the items on your Shopping Cart. 4. Select the item/s you wish to purchase and once you have reviewed the items on your Shopping Cart, click “Check Out” 5. Input the voucher code on the checkout page to apply the discount. Enter your shipping and billing information and select the credit card as payment method. 6. Enter your Visa Credit/Debit/Prepaid Card details and make sure to check if the discount was applied to total billing before proceeding to place the order. 7. Click “Place Order” to complete the transaction. TERMS AND CONDITIONS: 1. Discount can be used only once throughout the valid promo period. 2. Discount is applicable to all Visa Credit/Debit/Prepaid Cardholders. Maximum discount is P200. 3. Discount is applied automatically at the checkout only when the voucher has been successfully applied on the order. 4. Discount is not exchangeable for cash, credit or other goods and services. 5. Discount amount cannot be applied retroactively. 6. Discount is not applicable to items marked “Voucher code not applicable on this item”. 7. Applicable only to eligible Visa card BINs and eligible items. 8. All cancelled orders will not be valid for re-instatement of voucher codes. 9. Payment codes cannot be used with other collectible or static code discount vouchers. 10. The use of the voucher is subject to the Lazada Voucher Terms and Conditions. CUSTOMER SUPPORT For questions or clarifications, please contact Lazada Customer Care by clicking the chat button at http://www.lazada.com.ph/contact. Terms and conditions apply.
READ MOREGet an extra Php 100 OFF on your purchase on Lazada on weekend in our Everyday Birthday Deals with your LANDBANK Visa Debit Card! Promo Mechanics The Promo is valid on regular and sale items at Lazada. Purchase must be made on weekends from March 26 to 27, 2022 from 12:00AM to 11:59PM Philippine time Discount applies with a minimum spend of P1,000, charged to the LANDBANK Visa Debit Card. Discount is capped at Php 100. Discount can be availed through a voucher code to be applied on purchases in Lazada and is open to new and existing Lazada customers. Customers should use the voucher code LBPLAZ100 to avail the discount. Discount will apply when the voucher is entered at the Payment Page and the eligible LANDBANK Visa Debit Card is selected as the payment option. Customer must check if voucher is applied before proceeding to final check-out. Discount is not applicable to digital goods, stores with digital goods product/s, milk products for 3 years old below (under the Milk Code) and other goods from blacklisted sellers set by Lazada. 3. Purchase must be made using an eligible LANDBANK Visa Debit Card during the valid promo period from March 26 to March 27, 2022. Payment codes cannot be used with other collectible or static code discount vouchers. Transaction must be made within the Promo Period to avail of the Promo. The Promo is valid at Lazada Philippines Smartphone mobile app and website. HOW TO AVAIL 1. Open the Lazada website (www.lazada.com.ph) or download the Lazada app for free via App Store for Apple users or Google Play store for Android users. 2. Select the item/s you wish to purchase then click “Add to Cart”. Prepare your card details for the transaction 3. Click the Shopping Cart icon on the right, topmost portion of the screen to view all the items on your Shopping Cart. 4. Select the item/s you wish to purchase and once you have reviewed the items on your Shopping Cart, click “Check Out” 5. Input the voucher code on the checkout page to apply the discount. Enter your shipping and billing information and select the credit card as payment method. 6. Enter your LANDBANK Visa Debit Card details and make sure to check if the discount was applied to total billing before proceeding to place the order. 7. Click “Place Order” to complete the transaction. TERMS AND CONDITIONS: 1. Minimum spend of P1,000 is required. 2. Discount capped at P100. 3. Valid for one-time use per promo weekend per customer. 4. Discount is applied when customer enters eligible LANDBANK Visa Debit Card details. 5. Discount is applied automatically at the checkout only when the voucher code has been successfully applied on the order. 6. Discount is not transferable and may not be converted to cash, credit, kind or similar financial instruments. 7. Discount cannot be applied retroactively. 8. Discount is not applicable to items marked “Voucher code not applicable on this item”. 9. All cancelled orders will not be valid for re-instatement of voucher codes. 10. Payment codes cannot be used with other collectible or static code discount vouchers. 11. The use of promo code is subject to the Lazada Voucher Terms and Conditions. CUSTOMER SUPPORT For questions or clarifications, please contact Lazada Customer Care by clicking the chat button at http://www.lazada.com.ph/contact Terms and conditions apply.
READ MOREALICIA, Isabela — The first-class municipality of Alicia in Isabela recently began the construction of its new public market bankrolled by a P190-million loan from the Land Bank of the Philippines (LANDBANK). The LANDBANK term loan availed by the local government of Alicia in 2021 has funded the acquisition of a 20,000 sq.m. commercial lot in Barangay Antonino, Alicia, and jumpstarted the construction of the new public market building. The rise of the new public market will decongest the existing market and will provide business opportunities to small and medium enterprises, as well as ambulant vendors in Alicia and its neighboring towns. Aside from the hiring of market administration personnel, the project has also generated jobs for around 230 indirect laborers involved in the development and construction of the building. “LANDBANK is one with our local government partners in providing necessary facilities to support the growth of agri-producers and local entrepreneurs. This forms part of our broader thrust of helping build stronger and more resilient local economies,” said LANDBANK President and CEO Cecilia C. Borromeo. The new public market is set to have eight perimeter rows of stalls or about 172 stalls for dry goods and groceries, and four inside sections of about 108 stalls for fruits and vegetables, including meat and fish sections. The market facility will also be equipped with modern facilities, such as a water sprinkler system, closed-circuit television (CCTV) monitoring system, double drainage canal, steel elevated water tank with deep well water pump, and standby generator set, among others. With LANDBANK’s support, Alicia Mayor Joel Amos P. Alejandro believes that the new public market will hasten commercial and economic growth in the area while catering to the various needs of the community. “Alicia is running twice as fast in good governance, business, and property development to be the next wonderland in the North,” Mayor Alejandro said. With its vast agricultural land and irrigated fields, Alicia is one of the largest rice-producing towns in the region, with palay production dominating its local economy.
READ MOREPresident Rodrigo R. Duterte (center) receives the stock certification from LANDBANK, led by Finance Secretary and LANDBANK Chairman Carlos G. Dominguez III (3rd from right) and LANDBANK President and CEO Cecilia C. Borromeo (4th from right), in a turnover ceremony held at Malacañang Palace, Manila on 21 March 2022. They are joined by Executive Secretary Salvador C. Medialdea (4th from left) and other LANDBANK senior officials. The Land Bank of the Philippines (LANDBANK) officially turned over 1.36 billion shares of common stock worth P136.2 billion to the National Government, following the unprecedented capital infusions extended to the Bank since June 2016. President Rodrigo R. Duterte received the stock certification from Finance Secretary and LANDBANK Chairman Carlos G. Dominguez III, together with LANDBANK President and CEO Cecilia C. Borromeo, in a historic turnover event at Malacañang Palace, Manila on 21 March 2022. They were joined by Executive Secretary Salvador C. Medialdea; LANDBANK Executive Vice Presidents Alan V. Bornas, Julio D. Climaco, Jr., Liduvino S. Geron, Carel D. Halog; and Senior Vice President Gonzalo Benjamin A. Bongolan. Since June 2016, LANDBANK has received a total of P148.8 billion in capital infusion from the National Government as of 25 March 2022. Of this total, P27.5 billion was infused to the Bank in February 2021 in line with the provisions of Republic Act No. 11494 or the Bayanihan to Recover as One Act (Bayanihan 2), coupled by the conversion of the Bank’s P110 billion unrestricted retained earnings to paid-up capital in February and March 2022. The equity infusions combined with dividend rate adjustments have improved LANDBANK’s capital Common Equity Tier 1 (CET1) ratio to 16.85% as of February 2022, to be comfortably ahead of the Basel III capital ratio requirement. The capital infusion from the government has also solidified LANDBANK’s ranking as the second-largest bank in the country in terms of assets, while boosting its capacity to service the financial requirements of key development sectors and advance greater financial inclusion.
READ MOREinstaPay your way to 50K! ? Whether sending or receiving money, get the chance to win up to P50,000.00 when you choose instaPay for your fund transfers! Check out the three ways to earn a raffle entry below. Promo period is from March 14 until June 15, 2022. Visit https://www.instapayph.com/ for more promo details. #BankingOnTheFilipinoSpirit #ServingTheNation
READ MORESupport local with Visa and get P200 off, min spend 2,000! HOW TO AVAIL 1. Shop using the Shopee mobile app. 2. Select the items you wish to purchase and click “BUY NOW”. 3. To proceed with checkout, enter your e-mail address and shipping details. 4. Enter promo code “VISA200OFF” upon checkout. 5. Click “Select payment method” and choose “Credit / Debit Card” as option. 6. Select or add your participating Visa credit, debit, or prepaid Card and click “Confirm”. 7. Promo discount will be automatically applied to your purchase upon checkout. TERMS AND CONDITIONS: 1. Qualified Visa cardholders are entitled to avail of the promo discount from Shopee within the applicable promo period. 2. Promo discount is P200 off, with a minimum spend of P2,000. 3. Promo discount is valid for eligible Shopee users during the promo duration. 4. Promo discount is valid for one-time use from Apr 3 to 6, 2022 only. 5. Applicable on Visa credit, debit, and prepaid card transactions only. 6. Promo discount is valid for new and existing Shopee registered customers. 7. Promo discount cannot be applied retroactively. 8. The offer cannot be exchanged for cash or other products. 9. Promo discount can only be applied on purchases from Preferred Shops, Mall Shops, Free Shipping Special Sellers, and Coin Cashback Sellers that ship from the Philippines. 10. Promo discount cannot be used on products under the “Load, Bills and eServices” category. 11. Promo discount is valid on orders to be delivered via integrated couriers. 12. By joining this promo, the user confirms that he/she has read, understood, and agreed to the promo mechanics and its terms & conditions. 13. Shopee reserves the right to cancel transactions of accounts that are proven to be invalid or fraudulent (i.e. abuse of system). 14. Shopee reserves the right to vary these terms & conditions with prior approval of DTI. CUSTOMER SUPPORT For any questions or clarifications, please contact Shopee’s Customer Service at (02) 88805200 or email support@shopee.ph DTI Fair Trade Permit No. FTEB-139565 Series of 2022
READ MOREUpgrades CCT, UCT cash cards to transaction accounts The Land Bank of the Philippines (LANDBANK), in partnership with the Department of Social Welfare and Development (DSWD), disbursed a total of P133.61 billion to more than seven million beneficiaries of the government’s Conditional Cash Transfer (CCT) and Unconditional Cash Transfer (UCT) programs in 2021. ¬ Of this amount, LANDBANK released a total of P123.74 billion under the CCT program that benefitted 4.4 million low-income families, for education and health needs of the children and financial support for households. Meanwhile, a total of P9.86 billion was delivered to 2.8 million UCT beneficiaries, as part of support interventions in line with the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Law. “LANDBANK remains steadfast in the timely delivery of social protection interventions to the most vulnerable sectors. We will continue to work closely with the DSWD to contribute to the National Government’s inclusive development agenda,” said LANDBANK President and CEO Cecilia C. Borromeo. As of 28 February 2022, the state-run Bank has provided LANDBANK Cash Cards to a total of 9.8 million CCT and UCT beneficiaries to facilitate more convenient withdrawals of social pension and grants in future payouts. LANDBANK also upgraded the Cash Cards of all CCT and UCT beneficiaries into transaction accounts, to provide the beneficiaries wider access to an array of banking services. Beneficiaries can now perform cash card loading via LANDBANK branches, receive funds through the LANDBANK Mobile Banking App, and cash-in via LANDBANK Cash Deposit Machines, among others. Previously, the CCT and UCT beneficiaries can only do limited transactions with their cash cards, such as withdraw cash from LANDBANK Automated Teller Machines (ATMs) and Agent Banking Partners (ABPs) nationwide. To provide the beneficiaries more financial access points, LANDBANK has also on-boarded a total of 888 ABPs in far-flung communities as of 31 December 2021 to ensure the timely delivery of government subsidies. LANDBANK serves as the delivery arm for the National Government’s social protection initiatives in support of the country’s underserved and marginalized sectors.
READ MOREDATU BLAH T. SINSUAT, Maguindanao – The Municipal Government of Datu Blah T. Sinsuat (DBS) has partnered with the Land Bank of the Philippines (LANDBANK) for the construction of access roads that will aid in the convenient and timely transport of goods to and from the town. The second class municipality inked a P90-million loan agreement with LANDBANK on 9 February 2022 to purchase various heavy equipment, meant to enhance the town’s delivery of general basic services and fast-track the implementation of strategic farm-to-market road projects. “LANDBANK fully supports initiatives that promote the growth and development of local agricultural producers. We are one with local government partners in providing more convenient access to local markets and other government services, in line with building stronger and more resilient local economies,” said LANDBANK President and CEO Cecilia C. Borromeo. The P90-million LANDBANK loan will finance the construction of additional road networks in the municipality, designed to reduce the transportation costs of farmers and fishers for their produce, which will result to higher incomes. The road projects will allow fishers from the remote coastal barangays to supply fish to Cotabato City, Maguindanao Province, several bordering towns in Lanao del Norte, as well as the provinces of Zamboanga del Norte and Zamboanga del Sur. To date, five (5) out of the 13 barangays of Datu Blah T. Sinsuat have no established roads and are accessible only by boat. The additional roads will benefit a total of 4,946 farmers; 2,701 fishers; and 389 Agrarian Reform Beneficiaries (ARBs) residing in the area. “With LANDBANK’s assurance of financial and technical support to our priority projects for small farmers and fishers, we are optimistic that the Datu Blah T. Sinsuat Municipality will reach its goal of becoming the fishing capital of Central Mindanao in the future,” said Datu Blah T. Sinsuat Mayor Marshall I. Sinsuat. The Municipality also anticipates that the new roads will encourage the influx of investors and potential tourists to stimulate more economic activity, significantly improving the locality's trading system and tourism industry, and creating more job opportunities. LANDBANK continues to extend necessary credit assistance to local government units (LGUs) to spur recovery and inclusive economic development in the countryside. As of end-January 2022, LANDBANK has extended P69.51 billion in outstanding loans to LGUs nationwide.
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READ MOREAs of Thu, April 24, 2025
| Buying | Selling | |
|---|---|---|
| USD | 56.25 | 56.75 |
| JPY | 0.3874 | 0.402414 |
| EUR | 62.825564 | 65.256485 |
| GBP | 73.561749 | 76.408087 |
| HKD | 7.222614 | 7.76079 |
As of Wed, April 23, 2025
| UITF | NAVPU |
|---|---|
| Cash Management Fund | 1.557277 |
| Money Market Fund | 1.310499 |
| Money Market Plus Fund | 1.222999 |
| PERA Money Market Fund | 1.023529 |
| Medium-Term Bond Fund | 2.470284 |
| Bond Fund | 2.024201 |
| PERA Bond Fund | 1.198958 |
| Balanced Fund | 2.586074 |
| Growth Fund | 2.562272 |
| Alpha Equity Fund | 2.965405 |
| Blue Chip Equity Fund | 0.955259 |
| Equity Fund | 0.775159 |
| High Dividend Equity Fund | 1.007571 |
| US$ Money Market Fund | 1.431701 |
| Global $ Fund | 1.516504 |
