Category: Land Bank of the Philippines

LANDBANK hits P1 trillion asset mark

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The Land Bank of the Philippines capped 2014 on a high note with P1.051 trillion in assets, a hefty 25 percent increase from P841.8 billion in 2013.

The increase in the Bank’s total resources was largely driven by the net loan portfolio which grew by 47 percent to P449.0 billion, and a 32 percent expansion in investments from P240.8 billion in 2013 to P317.2 billion in 2014. Total deposits also registered significant growth to P914.2 billion, 30 percent higher than P705.9 billion in 2013 while total capital grew by 4 percent to P75.2 billion.

The Bank attained a net income of P12.1 billion from 11.7 billion in 2013. This exceeds the Bank’s year-end target and translates to a high return on equity of 16.4 percent. This is despite the relatively slow growth for the first nine months of the year against comparatively exceptional gains in 2013.

“We finished 2014 strong as the industry saw a rebound in treasury earnings in the fourth quarter while we also beefed up core lending segments and strengthened non-traditional businesses,” said LANDBANK President and CEO Gilda E. Pico.

The Bank’s BASEL 3 CAR is at 14.5 percent while coverage ratio for non-performing loans is at 164.2 percent.

LANDBANK is the biggest credit provider to small farmers and fishers, local government units, and the biggest lender to microenterprises and SMEs among government financial institutions. It is the only Bank present in all of the country’s provinces, with its nationwide network of 351 branches and 1,338 ATMs as of December 31, 2014.

Last year, LANDBANK was named “Bank of the Year” for the Philippines by The Banker, the world’s leading monthly journal of record for the banking industry for 90 years now. Considered the Oscars of the banking and finance industry, the Bank of the Year Awards is an annual event that promotes excellence in the global banking community by recognizing top financial institutions in the world.

LANDBANK seals remittance agreement with CF Sharp Crew Mgt., Inc.

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CF Sharp Crew Management Inc. EVP Miguel Angel Rocha and Treasurer Noel Ahing sign the remittance agreement with LANDBANK represented by Branch Banking Sector Head/Executive Vice President Jocelyn Cabreza and LANDBANK OFW Remittance Group Head/VP Renato Eje. They are joined by other LANDBANK and CF Sharp officials

 

The Land Bank of the Philippines recently sealed a remittance agreement with CF Sharp Crew Management, Inc. to service the latter’s foreign currency inward remittances and payroll distribution to its deployed seamen and their beneficiaries.

CF Sharp Crew Management is a pioneer in overseas maritime employment and one of the largest manning agents in the Philippines. It handles the deployment of more than a thousand seafarers per month.

LANDBANK’s extensive provincial network and experience in providing remittance and payroll services enable it to serve several of the country’s shipping and manning agencies.

This partner network complements the remittance cash pick-up facility available at any of the Bank’s 347 branches nationwide.

LANDBANK taps OmniPay Inc. for payment processing services

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Shown during the agreement signing between LANDBANK and OmniPay Inc. are (from left) OmniPay Inc. Executive Vice President/Chief Operating Officer Anna Liza Eugenio Alincastre; OmniPay Inc. President and CEO Simon S. Ung; OmniPay Inc. Chairman Melito S. Salazar; LANDBANK President and CEO Gilda E. Pico; LANDBANK Executive Vice President for Branch Banking Jocelyn dG. Cabreza, and LANDBANK Vice President for Card and e-Banking Randolph L. Montesa

The Land Bank of the Philippines recently signed an agreement with OmniPay, Inc. to avail of its card and electronic payment processing services. Under the partnership, LANDBANK and OmniPay will launch a Prepaid Card designed to give cardholders a secure, reliable, and highly-available payment processing platform.

OmniPay, incorporated in 2009, is a Non-Bank Financial Institution (NBFI) under the supervision of the Bangko Sentral ng Pilipinas (BSP). It specializes in providing various robust and secure payment programs, particularly card issuing and payment acquiring.

OmniPay was authorized by the BSP to become an Electronic Money Issuer – Non-Bank Financial Institution (EMI-NBFI). The company is the first to launch the JCB Prepaid Card product in the Asia Pacific and the first to launch the UnionPay International Prepaid Card product in the country. It partners with key institutions from both private and government sectors in line with the company’s mission of financial outreach and sustainability.

The LANDBANK Prepaid Card will provide customers with access to JCB and UnionPay’s extensive network, not just in the country but in countless branch locations and merchants across the globe. Cardholders will likewise be able to access their funds in all BancNet, Megalink, Expressnet, and Nationlink ATMs nationwide. It is also capable of handling different currencies (PHP, USD, JPY, CNY, HKD, etc.), and has anti-fraud features to ensure the security of the clients’ card details and transaction.

“We are pleased to have OmniPay as a partner in our continuing endeavor to deliver innovative services to our clients. This Prepaid Card will provide greater banking convenience to our customers, wherever they are in the world. This also forms part of LANDBANK’s thrust towards promoting greater financial inclusion,” said LANDBANK President and CEO Gilda E. Pico.

The Bank is looking at integrating the Prepaid Card into the government’s Conditional Cash Transfer program wherein LANDBANK is the disbursing bank, along with other government programs and initiatives that could leverage this technology.

“It is a distinct honor for OmniPay to partner with LANDBANK in complete support of its vision to promote inclusive growth through the delivery of innovative financial services. We are committed to support LANDBANK in this quest by providing world-class technology and support for new, innovative digital payments products; thus enabling LANDBANK to extend card programs to its institutional and corporate clients that are flexible and customizable for their specific requirements. Lastly, OmniPay will open its network of 1,500 Cash-In Cash-Out locations to all LANDBANK cardholders with an additional 1,300 locations going live by Q1, 2015,” said OmniPay Inc. Chairman Melito Salazar.

LANDBANK taps OmniPay Inc. for payment processing services

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Shown during the agreement signing between LANDBANK and OmniPay Inc. are (from left) OmniPay Inc. Executive Vice President/Chief Operating Officer Anna Liza Eugenio Alincastre; OmniPay Inc. President and CEO Simon S. Ung; OmniPay Inc. Chairman Melito S. Salazar; LANDBANK President and CEO Gilda E. Pico; LANDBANK Executive Vice President for Branch Banking Jocelyn dG. Cabreza, and LANDBANK Vice President for Card and e-Banking Randolph L. Montesa

The Land Bank of the Philippines recently signed an agreement with OmniPay, Inc. to avail of its card and electronic payment processing services. Under the partnership, LANDBANK and OmniPay will launch a Prepaid Card designed to give cardholders a secure, reliable, and highly-available payment processing platform.

OmniPay, incorporated in 2009, is a Non-Bank Financial Institution (NBFI) under the supervision of the Bangko Sentral ng Pilipinas (BSP). It specializes in providing various robust and secure payment programs, particularly card issuing and payment acquiring.

OmniPay was authorized by the BSP to become an Electronic Money Issuer – Non-Bank Financial Institution (EMI-NBFI). The company is the first to launch the JCB Prepaid Card product in the Asia Pacific and the first to launch the UnionPay International Prepaid Card product in the country. It partners with key institutions from both private and government sectors in line with the company’s mission of financial outreach and sustainability.

The LANDBANK Prepaid Card will provide customers with access to JCB and UnionPay’s extensive network, not just in the country but in countless branch locations and merchants across the globe. Cardholders will likewise be able to access their funds in all BancNet, Megalink, Expressnet, and Nationlink ATMs nationwide. It is also capable of handling different currencies (PHP, USD, JPY, CNY, HKD, etc.), and has anti-fraud features to ensure the security of the clients’ card details and transaction.

“We are pleased to have OmniPay as a partner in our continuing endeavor to deliver innovative services to our clients. This Prepaid Card will provide greater banking convenience to our customers, wherever they are in the world. This also forms part of LANDBANK’s thrust towards promoting greater financial inclusion,” said LANDBANK President and CEO Gilda E. Pico.

The Bank is looking at integrating the Prepaid Card into the government’s Conditional Cash Transfer program wherein LANDBANK is the disbursing bank, along with other government programs and initiatives that could leverage this technology.

“It is a distinct honor for OmniPay to partner with LANDBANK in complete support of its vision to promote inclusive growth through the delivery of innovative financial services. We are committed to support LANDBANK in this quest by providing world-class technology and support for new, innovative digital payments products; thus enabling LANDBANK to extend card programs to its institutional and corporate clients that are flexible and customizable for their specific requirements. Lastly, OmniPay will open its network of 1,500 Cash-In Cash-Out locations to all LANDBANK cardholders with an additional 1,300 locations going live by Q1, 2015,” said OmniPay Inc. Chairman Melito Salazar.