State-run Land Bank of the Philippines reported a 42-percent jump in earnings from January to September, reflecting the institution’s continued financial strength and solid performance amid its sustained efforts to expand lending activities.
Landbank’s net income had risen to P35.65 billion as of end-September, surpassing its full-year earnings of P35.36 billion in 2024.
Landbank said the performance during the nine-month period underscored the bank’s strong and sustained financial trajectory, marked by overall performance that continues to outpace its historical averages.
‘We remain steadfast in our mission to drive inclusive growth, empower the agriculture sector, and deliver innovative financial solutions for all Filipinos,’ Landbank president and CEO Lynette Ortiz said.
Ortiz added that the bank’s strong performance as of the third quarter highlights the institution’s prudent financial management, operational efficiency and continued investments in digital innovation.
The bank’s total assets expanded to an all-time high of P3.45 trillion, driven primarily by the continued growth of its loan and investment portfolios.
Its total loan portfolio reached P1.70 trillion, fueled by the significant increase in lending activities across all market segments.
Deposits, on the other hand, reached a new record high of P3.07 trillion amid the continued trust from both government and private sector depositors.
‘Landbank’s digital transformation continued to accelerate, processing 550.73 million digital transactions valued at P3.14 trillion as of September. This represents a 51 percent increase in volume from the previous quarter,’ the bank said.
The state-run bank maintained its focus on development financing, with loans to agriculture, fisheries and rural development reaching over P812 billion, equivalent to 47 percent of its total portfolio.
Meanwhile, Landbank has released P1.95 billion in loans under its flagship Agrisenso Plus Lending Program as of end-September, benefiting more than 12,300 borrowers since the program’s launch last year, who are mostly small farmers and fishers.