The Land Bank of the Philippines (LANDBANK) puts premium in the availability of easy and accessible financial services to Filipinos.
The state-owned firm recently brought the Bilis Ipon: Digital Financial Inclusion Caravan in the province of Nueva Ecija to promote its various offerings that current and potential clients can avail using their smartphones, and even without personally going to the branch.
Strategic partnership with local stakeholders
LANDBANK President and Chief Executive Officer Lynette Ortiz said they hope to reach as many people as possible to inform and introduce the services they may need.
“All over the country, we have more than 600 branches and more than a thousand ATMs. But we also have more than a thousand agent banking partners in LANDBANKasama,” Ortiz shared.
Through this program, LANDBANK is expanding its strategic partnership with local stakeholders such as cooperatives; associations; rural banks; local government units; micro, small and medium enterprises; and private entities in providing basic banking transactions namely cash withdrawals, cash deposits, fund transfers, bill payments, and balance inquiries even in the most remote and underserved areas thus allowing clients to save time going to the branch.
Opening basic deposit account made easy
LANDBANK Piso Plus allows anyone to open a basic deposit account through a smartphone without an initial deposit and maintaining balance.
“It is one of our financial services meant to bring more people into a reliable, convenient, and secure banking system. Saving now in the bank is made faster and easier because the only requirements for opening an account in LANDBANK Piso Plus are a smartphone, internet access, a valid identification card or barangay certificate, and an email address,” Ortiz explained.
The first thing to do is download the LANDBANK Mobile Banking app for free from the Apple Store or Android. Then, open the application, select the “Open an Account” button, follow the instructions, and complete the account opening application. Once completed, an authorized LANDBANK personnel will immediately review and approve it.
Empowering farmers through financial literacy
The AGRISENSO Lending Program is designed to provide affordable credit assistance and support services to empower local farmers.
“LANDBANK wants to help the entire value chain to make sure that they are given access to capital and financing. This is an important component in countryside development,” Ortiz pressed.
Small farmers, agrarian reform beneficiaries, farmers’ cooperatives and associations, agrarian reform beneficiary organizations, agribusiness enterprises, and agriculture graduates can borrow capital.
“Specifically, they can borrow from the LANDBANK AGRISENSO Lending Program up to 90 percent of the total cost of farming for production loans or up to 80 percent of the total acquisition cost or project cost for fixed asset acquisition,” Ortiz furthered.
The program, which has an initial fund of P10 billion, aims to encourage small farmers and fisherfolk engage in value-chain financing and farm clustering for increased production of rice, corn, and high-value crops.
Without a doubt, LANDBANK is on track in the attainment of its vision by 2028 of being at the forefront of nation-building through the promotion of financial inclusion, digital transformation and sustainable development that benefits all Filipinos. (CLJD/CCN-PIA 3)