|
 Institutional
Briefer: Land Bank of the Philippines |
The Land Bank
of the Philippines is the premier government financial institution
mandated to spur countryside development. It is the official depository
bank of the Republic of the Philippines.
Forty-three years ago,
it was tasked to support the implementation of the government’s
agrarian reform program as financial intermediary. At present however,
LANDBANK has taken a more dynamic role in supporting the government’s
initiatives geared towards nation building and poverty alleviation.
Particularly, LANDBANK’s
mission is centered on promoting sustainable growth and development
especially in the countryside where resources are scare and majority
of the poor reside. LANDBANK has taken the lead in extending timely
and affordable financial and technical assistance to the change
agents in the countryside --- the small farmers and fisherfolk;
micro, small and medium enterprises; local government units; and
other agri-based industries whom the bank considers as its priority
clients.
Through the years, LANDBANK
has risen to the challenge amid the taxing demands of development
work. Presently, LANDBANK is recognized as one of the top universal
banks in the country – offering complete range of commercial
banking products and service – with solid financial resources
to bank its operations. With over 380 branches and field offices
nationwide, LANDBANK remains as the only bank present in each of
the country’s 79 provinces. Currently, LANDBANK accounts for
70 percent of all formal lending to agricultural households, making
it the largest formal credit institution in the countryside. Its
credit delivery system enables it to penetrate almost 90 percent
of the country’s total number of municipalities.
It has also
establish remittance companies and representative offices in countries
like Italy, Japan, Singapore, Taiwan, United Arab Emirates and the
United States of America to service the growing Overseas Filipino
Workers market.
| Commercially
Strong |
The year 2006 was another
banner year for LBP as it set a new record in terms of the institution’s
profitability. The bank attained a net income of P3.5 billion which
is 17 percent higher than its 2005 net income of P3.01 billion.
LBP was able to surpass its year-end net income target of P3.3 billion
by 7 percent.
LBP performed very well
in terms of major performance indicators. Resources increased by
P50.3 million or 16 percent from P310.4 billion to P360.7 billion.
Deposits grew by P24.9 million or 10 percent from P242.8 billion
to P267.8 billion. Capital improved by P8.9 billion or 36 percent
from P24.7 billion to P33.7 billion. Its loan portfolio grew by
15.6 percent from P120.6 billion to P139.5 billion.
Because of this,
LBP was able to maintain its ranking among the top five banks in
the industry.
| Investing
in Automation |
LANDBANK is also integrating
major IT-driven systems into its operations to further improve customer
service. The bank currently has the third largest ATM network in
the industry, with 712 automated teller machines deployed nationwide.
LANDBANK’s
sound business fundamentals is also due to the committed and competent
men and women complementing its operation – from its Board
of Directors, the officers, down to the staff – who each contributes
to the greater well-being of a socially responsive government financial
institution.
| Creating
the Pathway for Progress |
As a catalyst of social
change, LANDBANK constantly aims for continuous self-improvement
so as to equal if not surpass its present achievements. Thus, in
the coming years, LANDBANK will remain as a dominant force in adopting
creative and responsible credit delivery programs with other critical
forms of assistance – through the help of local as well as
foreign partners – to address the needs of its diversified
clientele. Moreover, it will service as a model financial institution
that promotes sustainable development and advocates environmental
protection consistent with its ISO 14001:2004 (Environmental Management
System) certification.
LANDBANK remains
relentless with its commitment to serve Filipinos here or even those
abroad as underscored in its mandate. | 
