LandBank rolls out new banking program
CALAPAN CITY, Oriental Mindoro: Land Bank of the Philippines (LandBank) launched LANDBANKasama Program on Thursday, January 18, to bring the services of the bank to far-flung areas and in line with its intensified effort towards expanding financial inclusion in the country.
LandBank-Calapan Branch Manager Ferdinand Abas said that the program is part of the state-run bank’s Digital Financial Caravan held at the Golden Jatee Lending Corp. in Paras Compound, San Vicente this city, with simultaneous rollout events in Batanes, Tarlac, Quezon, Camarines Sur, Bohol, Negros Occidental, Cagayan de Oro City, Davao del Norte, and Sulu.
In a press release distributed to media during the launch, LandBank said that 1,113 accredited local partners operating in 1,870 cash-out terminals have been tapped as of December 2023.
“The LANDBANK Digital Financial Inclusion Program Caravan, which promotes to the people of Mindoro fund management and the habit of saving through financial education, also introduces the new LANDBANK PISO Plus, among the Bank’s latest offering,” the bank said in a statement.
The bank said it is expanding strategic partnerships with local players including client cooperatives, associations, rural banks, local government unit (LGUs), micro, small and medium enterprises (MSMEs), and private entities to provide basic banking services and ensure financial access even in the most remote and underserved areas.
In Oriental Mindoro, the bank entered into a partnership with Golden Jatee Lending Corp., Jeffrey Sari-Sari Store, Calapan Vendors Multipurpose Cooperative, Roxas Market Multipurpose Cooperative, Bongabong Coconut Farmers Multipurpose Cooperative, God’s Grace Trading, Leong General Merchandise, and the Rural Bank of Bansud Inc.
“The program benefits around 52,812 beneficiaries of the Conditional Cash Transfer (CCT) Program of the National Government, as well as government employees, teachers, students, and other private clients in the province,” the bank said.
Abas told The Manila Times that the program would minimize expenses of the CCT beneficiaries and other clients because bank transactions could already be made in a partner near their place.