Land­bank al­lots 80% of loan port­fo­lio to agri

Sun.Star Davao - - BUSINESS -

ABOUT 80 per­cent of the loan port­fo­lio of Land­bank of the Philip­pines (LBP) is al­lot­ted for agri­cul­ture fi­nanc­ing.

The Davao Agri Trade Expo (Date) 2017, which will be on Septem­ber 21 to 23 at the SMX Con­ven­tion Cen­ter, will be fea­tur­ing agri-fi­nanc­ing as one of their high­lights.

Ac­cord­ing to Davao City Cham­ber of Com­merce and In­dus­try, Inc. (DCCCII) vice president for in­dus­try Wilfredo Teves, dif­fer­ent banks will be present dur­ing the expo pri­mar­ily to show­case and dis­cuss the agri­cul­tural loan pro­grams that they can of­fer. These banks in­clude China Sav­ings Bank, BDO, Devel­o­ment Bank of the Philip­pines, Se­cu­rity

Bank, and a num­ber of co­op­er­a­tive banks.

"Dur­ing the du­ra­tion of the expo, the fo­cus of our agri fi­nanc­ing help is on group dis­cus­sion. Not only Land­bank, but the other bank­ing sec­tors will also be there to present their pro­grams on agri fi­nanc­ing to the par­tic­i­pants" said Jose dela Cruz of LBP dur­ing Wed­nes­day's at Habi at Kape on Septem­ber 13, 2017 at the Abreeza Ayala Mall.

He added they will have a booth dur­ing the expo with their loan pro­grams pre­sented in LED screens so the par­tic­i­pants can view. Dela Cruz also said a huge chunk of their loan port­fo­lio is be­ing loaned for agri­cul­tural pur­poses or about 80 per­cent. He added an 8 to 10 per­cent in­crease was noted from 2016 to 2017.

LBP caters to dif­fer­ent types of bor­row­ers whether through co­op­er­a­tives, com­pa­nies, pro­prier­tor­ship, or as­so­ci­a­tion. He said the loan­able amount will be de­pend on the re­quired amount of the bor­rower's pro­ject in mind and the pay­ing ca­pac­ity among oth­ers.

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