THE Land Bank of the Philippines (LandBank) reported posting a P35.65-billion net income as of the third quarter of the year.
A statement issued by the state-run lender last Wednesday read that Landbank’s earnings rose by 42 percent year-on-year and exceeded its full-year earnings of P35.36 billion in 2024.
The bank also recorded P3.45 trillion in total assets, which was largely driven by expansion of loan and investment portfolios, read the statement of the country’s second-largest universal and commercial bank.
The bank’s loan portfolio climbed to P1.70 trillion, following higher lending volumes across all client segments. Recently, Landbank launched a new lending program for micro-sized, small-scale and medium-sized enterprises.
The LandBank continues to push its developmental mandate, with loans to agriculture, fisheries, and rural development totaling over P812 billion, representing 47 percent of its total loan book, the statement read. The bank has released P1.95 billion in loans to over 12,300 borrowers, primarily small farmers and fishermen.
A total of 25,296 small farmers and fishers have also undergone training through the program’s capacity-building initiative.
Digital transactions through the bank’s platforms hit 550.73 million valued at P3.14 trillion as of end-September, marking a 51-percent increase in transaction volume from the previous quarter.
Meanwhile, deposits also improved to P3.07 trillion as both government agencies and private sector clients continued to park funds with the bank.
‘LandBank’s strong performance as of the third quarter underscores our prudent management, operational efficiency, and continued investments in digital innovation,’ the lender’s President and CEO Lynette V. Ortiz was quoted in the statement as saying.
‘We remain steadfast in our mission to drive inclusive growth, empower the agriculture sector, and deliver innovative financial solutions for all Filipinos,’ Ortiz added.