MANILA -- The Land Bank of the Philippines (LANDBANK) is tapping branches of UCPB Savings Bank (USB) nationwide to serve as Agent Banking Partners in remote and underserved areas, as part of its mandate to advance greater financial inclusion in the country.

A total of 57 USB branches are set to be onboarded as LANDBANK Agent Banking Partners by June 2022, of which 20 USB branches are operating in communities without any LANDBANK branch.

As LANDBANK Agent Banking Partners, USB Branches will offer card sale, cash-in, cash-out, fund transfer, and bills payment services, allowing customers to enjoy lower transaction costs, improved access to financial services, greater convenience, and potentially lower travel expenses.

Beneficiaries of the National Government’s Conditional Cash Transfer (CCT) and Unconditional Cash Transfer (UCT) Programs can also withdraw their cash grants through the LANDBANK Agent Banking Partners.

"Through the Agent Banking Program, LANDBANK is able to better serve its mandated sectors, particularly those in unbanked and underserved communities where financial services are scarce. We are bringing more Filipinos into the financial mainstream to foster greater financial inclusion across the nation," LANDBANK President and CEO Cecilia C. Borromeo said.

As of 31 March 2022, LANDBANK has a total of 907 Agent Banking Partners nationwide. These include client cooperatives, associations, rural banks, local government units, small and medium enterprises, gasoline stations, and private entities.

From January to March 2022, a total of 1.3 million transactions amounting to P4.6 million were facilitated by LANDBANK Agent Banking Partners.

The LANDBANK Agent Banking Program is in compliance with Bangko Sentral ng Pilipinas (BSP) Circular No. 940 series of 2017, wherein banks are allowed to serve customers through cash agents contracted to perform selected banking services on its behalf in order to exponentially expand its reach and serve customers more efficiently. (LANDBANK)