The Land Bank of the Philippines (Landbank) now has deposit accounts for all local government units (LGUs).
This allows Landbank to enhance its role as the LGU sector’s largest development partner for inclusive local development.
“LGUs are Landbank’s primary partners on the ground in promoting inclusive and sustainable growth. Having all LGUs in our deposit base ensures that we can cover and better service local development requirements across the country,” said bank president and CEO Cecilia C. Borromeo.
Landbank remains to be the biggest lender to the LGU sector with outstanding loans reaching almost P70 Billion, most of which are for various agri-aqua projects, transportation, and healthcare initiatives.
Landbank is the biggest government-owned universal bank that delivers timely and responsive financial and support services primarily to small farmers and fishers, key development industries, LGUs and government agencies, among others, towards promoting inclusive countryside development.