MANILA (PIA)--The Land Bank of the Philippines (LANDBANK) unveiled a new brand promise of ‘Serving the Nation,’ embodying its full commitment to assist various sectors of the economy and help contribute to the country’s collective recovery.
In a virtual launch held on March 28—streamed live on LANDBANK’s Facebook Page (@landbankofficial) and YouTube Channel (/landbankofficial)—LANDBANK highlighted its expanded and unique role in providing intensified support to the country’s agriculture sector alongside serving the requirements of key development industries.
“Through the years, LANDBANK has fully transformed into a development-oriented institution. Aside from being the biggest credit provider to the agri sector, LANDBANK is serving as a vital partner of the National Government in advancing its inclusive development agenda,” said LANDBANK President and CEO Cecilia C. Borromeo.
As of 31 December 2021, LANDBANK’s agricultural loans reached P247.85 billion assisting over 3.2 million small farmers and fishers nationwide through regular loan programs, including special lending programs administered for the Department of Agriculture (DA) and the Department of Agrarian Reform (DAR).
The Bank also extended P68.9 billion in outstanding loans to local government units (LGUs) as of end-December 2021—largely for agri-aqua projects, transportation, and healthcare initiatives—making LANDBANK the biggest development partner of the LGU sector in accelerating inclusive local development.
LANDBANK’s financial support over the years have resulted in the delivery of various basic services and infrastructure facilities across the country, including the construction and improvement of 23,825 kilometers of farm-to-market roads, 239 hospital buildings, 20,153 hospital beds, 788 school buildings, 6,146 classrooms, and access to potable water for more than 2 million households.
In partnership with different government agencies, LANDBANK also serves as the main distribution arm for the government’s social amelioration programs to vulnerable sectors severely affected by the COVID-19 pandemic, including the regular distribution of financial aid under the social protection programs of the Department of Social Welfare and Development (DSWD).
The Bank is also closely working with the Department of Transportation (DOTr) and the Land Transportation Franchising and Regulatory Board (LTFRB) for various transportation modernization initiatives. This includes the immediate delivery of P6,500 fuel subsidy to public utility vehicle (PUV) drivers challenged by the sudden rise in fuel prices under the Fuel Subsidy Program.
To advance greater financial inclusion in the country, LANDBANK continues to partner with the Philippine Statistics Authority (PSA) to provide unbanked Philippine Identification System (PhilSys) registrants with their own transaction accounts free-of-charge. LANDBANK has onboarded 7.2 million previously unbanked Filipinos as of end-2021.
Following the Bank’s recent merger with the former United Coconut Planters Bank (UCPB), LANDBANK further solidified its ranking as the second largest local bank in terms of assets, putting it in a better position to serve the whole agriculture sector and diverse customer base through its stronger financial muscle and extensive reach.
As of 08 March 2022, LANDBANK’s branch network has expanded to 607 branches and 71 branch-lite units nationwide—the only Bank present in all 81 provinces in the country. (Landbank/PIA-10)
