Landbank Philippines Overview

The Landbank is a government bank that was created to provide affordable housing and other forms of socialized banking. However, many people still don’t have much information about this bank.

We are excited to announce that our latest blog post will cover Landbank in the Philippines. This is a topic of interest for many Filipinos, who have been looking for ways to grow their family or build on their investments. We hope you enjoy this article and find it useful!

Landbank

Landbank

What Is The Landbank?

LandBank of the Philippines (known as LBP) is a government financial institution. It aims to strike the right balance in achieving the social responsibilities of enhancing rural development and remaining financially viable. 

This dual-purpose makes Landbank unique from others in the entire country. The profits from commercial banking operations are used to fund the bank’s development projects and initiatives.

After years of trying, Landbank has effectively maintained this difficult balancing act as indicated by the continued increase of its loan portfolio in terms of its key sectors: 

  • Small farmers and fishers
  • Micro and SMEs
  • Agricultural and aqua projects
  • Communications
  • Transportation
  • Housing 
  • Health care
  • Education
  • Environment-related projects
  • Tourism
  • Utilities.

Landbank Business Strategy And Vision

Landbank’s headquarter

Landbank’s headquarter

The core business strategy of Landbank is to expand credit support to the priority sectors (as mentioned above).

The proportion of these priority sector loans in the Bank’s total loan portfolio is set at a minimum of 75% on an annual basis. Landbank also provides technical, marketing, and institutional-building assistance to these key areas in order to make them financially viable.

In 2020, LBRDC became a triple “A” company that provides quality service to Landbank, other government agencies, and private clients. It utilizes state-of-the-art technology and innovative processes to compete in the delivery of construction and real estate management, manpower, property management, property maintenance, and other support services.

By 2023, Landbank will become the foremost universal bank promoting inclusive growth, particularly in unbanked and underserved areas. It’s all thanks to delivering innovative financial products and services supported by digital banking platforms.

Is Landbank A Government Or A Private Bank?

Is Landbank a government or a private bank?

Is Landbank a government or a private bank?

Landbank is a government-owned universal bank and ideally positioned in the Philippines’ commercial banking business. It serves as a catalyst for rural growth while still maintaining profitability in banking activities. Since its inception in 1963, Landbank has evolved into a prominent countryside development financing institution. 

The bank’s working philosophy is founded on three primary business objectives: mandate fulfillment, improved client service, and organizational viability.

What Products And Services Do Landbank Provide? 

Now that you’re more familiar with Landbank, it’s time to explore their products and services.

Landbank’s card

Landbank’s card

Overseas Filipino ATM Account

A card-based savings account is primarily meant for Overseas Filipinos and their beneficiaries. The initial deposit and ongoing balance are only Php 100.00.

This type of card comes in two forms: generic and personal. Upon application, the generic card is issued by the LBP Overseas Officers and other ORG designated staff. Meanwhile, the personal card is issued by a Landbank branch with the account holder’s name imprinted on the card.

OFW Passbook Account

Passbook savings accounts are offered at LBP branches for Overseas Filipinos or their designated beneficiaries. The initial deposit is Php 100.00, yet the needed Average Daily Balance (ADB) is Php 5,000.00.

US Dollar Passbook Account

Similarly, passbook savings accounts are offered at LBP branches for the Overseas Filipinos or their designated beneficiaries. The initial deposit is USD 10.00, yet the needed Average Daily Balance (ADB) is USD 500.00.

It’s worth noting that deposits sent to this account are only accepted in US dollars; no other currencies are allowed.

Landbank Remittance Service (thru Remittance Partners)

  • SMS Notification
  • Direct Credit to Landbank accounts
  • Credit to any other banks’ account (via PESONet)
  • Cash pick-up via other Landbank branches
  • Cash pick-up via Partner Paying Agents (LBC, Palawan Pawnshop, Puregold, RD Pawnshop, etc.)

See also: What is BDO bank? The complete overview about BDO Unibank

Is Landbank Reputable?

Presently, Landbank is the Philippines’ largest formal credit institution in rural areas. Regarding deposits, assets, and loans, it is also one of the top five commercial banks in the country.

Though Landbank is not the largest bank in the Philippines, it is ranked among the top ten universal/commercial banks by the Bangko Sentral ng Pilipinas (BSP) on five metrics as of March 2019. They include assets, stockholders’ equity, loans, deposits, and return on equity.

Since its first launch, Landbank has received numerous awards for its products, services, and other CSR activities. The bank has recently achieved the following awards:

Awards’ name Year
Corporate and Investment Banking Awards held by Asian Banking and Finance 2020 
Karlsruhe Sustainable Finance Awards  2020
ADFIAP Awards 2020 
DENR Kamagong Award 2020 
National Outstanding Volunteer Award 2019 
Philippine Quality Award 2019 
ANG SUSI Awards 2019 
Recognition of Excellence by OpenGov 2019 
BSP Stakeholders Awards 2018
PHILIPPINE QUILL AWARD 2015 

What Is The Landbank Hotline?

  • Business Address: LANDBANK Plaza, 1598 M.H del Pilar cor. Dr. J. Quintos Sts., 1004 Malate, Manila, Philippines
  • Mailing Address: P.O. Box 2284 Manila Central Post Office
  • Telephone Nos.: +63 2 8-522-0000; 8-551-2200Fax No.: +63 2 8-528-8580
  • Website: www.landbank.com
  • Contact Email: customercare@mail.landbank.com
  • Swift Code: TLBPPHMMXXX
  • Nationality: 100% Filipino Ownership
  • Founding Date: Thursday, August 8, 1963
  • Ownership: GOVERNMENT OF THE PHILIPPINES, 100% National Gov’t P11.97 Billion Common Shares
  • Principal Activity: Specialized Government Bank with universal banking license
  • Network: 411 Branches and 66 branch-lite units, 55 Lending Centers and 2,316 ATMs and 168 CDMs (as of February 2021)

What Is Landbank Working Time?

Landbank always welcomes your comments, questions, as well as recommendations. Their operating hours are 8:00 a.m. – 5:00 p.m. from Monday to Friday (except on public holidays).

For customer service concerns, you may contact Landbank through the following:

For customer service issues, you can contact Landbank at the following numbers:

  • 24/7 Customer Care hotline: 
  1. For NCR (02) 405-7000
  2. PLDT toll-free 1-800-10-405-7000
  • Email: customercare@mail.Landbank.com

Final Thoughts

Landbank is one of the Philippines’ oldest and most respected financial institutions. It has been in operation for over 50 years, serving clients with a range of products and services to suit their needs. 

We hope this blog post helps you understand more about what Landbank provides so that you can get started confidently investing your hard-earned money into an institution committed to helping Filipinos prosper.

See also: Metrobank Phillippines – 6 things you need to know

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