As it celebrates its 60th anniversary this year, the Land Bank of the Philippines (LANDBANK) has adopted new Vision and Mission statements to better reflect the Bank’s commitment to fulfilling its expanded mandate of serving the nation for the next six years.
“LANDBANK is driven this year to take on a more prominent role at the forefront of nation-building. Leveraging on innovation, digitalization, and strategic partnerships, we are geared towards the enhanced delivery of accessible, responsive, and meaningful service to our diverse clientele,” said LANDBANK President and CEO Cecilia Cayosa Borromeo.
LANDBANK envisions that by 2028, it “shall be at the forefront in nation-building through the promotion of financial inclusion, digital transformation, and sustainable development that benefits all Filipinos,” as the Bank aims “to provide responsive services beyond banking to all clients, publics and stakeholders.”
The Bank is likewise focused on its mission to be “the leading universal bank with a government mandate that provides responsive services beyond banking to all clients, publics and stakeholders.”
LANDBANK unveiled its new institutional Vision and Mission statements to the public on 14 February 2023, alongside the inauguration of the LANDBANK Leadership and Development Center in Intramuros, Manila, together with the launch of the Bank’s “Iskolar ng LANDBANK” scholarship program.
2023 Targets
In support of the National Government’s programs on digital collections and disbursements, LANDBANK is targeting to onboard more local government units as merchants in eGov Pay and the Link.BizPortal, among its other digital channels.
This includes growing the number of government and private merchants in the LANDBANK Link.BizPortal to over 1,600 merchants by end-2023.
LANDBANK is also looking to grow its digital transactions by 60% in terms of both volume and value, driven by an aggressive expansion of its retail customer base.
LANDBANK is also set to establish touchpoints in all 1,634 local government units (LGUs) nationwide, further solidifying its position as the biggest development partner for local and countryside development.
The Bank’s network expansion will culminate in 2024 with the establishment of a LANDBANK touchpoint in every municipality in the country in the form of physical branches, Automated Teller Machines (ATMs), Agent Banking Partners (ABPs), Cash Deposit Machines (CDMs), or Point-of-Sale (POS) facilities.
As the biggest lender to the agriculture sector, LANDBANK targets to increase the number of small farmers and fishers it has cumulatively assisted to 3.6 million in 2023, among other key players in the agri-business value chain.
The state-run Bank is also determined to increase its net income by at least 16% to P35 billion, by optimizing resources, maximizing yields from earning assets, generating return from non-earning assets, and expanding trust banking and Bancassurance business.
LANDBANK recorded a net income of P30.1 billion in 2022—the first time the Bank breached the P30 billion mark—for a robust 38.2% expansion from P21.7 billion in 2021.
Through the years, LANDBANK has grown into one of the leading universal banks in the country, while remaining faithful to its social mandate to promote inclusive and sustainable development.
