MANILA – Government financial institution Land Bank of the Philippines (Landbank) reported on Wednesday an 8 percent annual expansion of its net income as of end-September 2026, driven by client-focused solutions.
In a news release, Landbank said net income after the nine-month period reached PHP37.53 billion, with the third quarter figure alone at PHP13.32 billion.
Total assets as of end-September reached PHP3.56 trillion while total deposits amounted to PHP3.11 trillion.
“Our strong financial performance reflects the continued trust of our clients in Landbank. This growth affirms the strength of our client-focused solutions and our ability to deliver on our developmental mandate while maintaining sound and disciplined operations,” Landbank President and Chief Executive Officer (CEO) Lynette Ortiz was quoted as saying.
The bank said loans extended for agriculture, fisheries and rural development rose 10 percent to PHP894.41 billion as of end-September, from year-ago’s PHP812.79 billion. This accounted for almost 55 percent of the bank’s gross loan portfolio.
Transactions under its Cash-Lite Program, which provides cashless transactions to students, faculty, staff, food vendors, micro-merchants and transport service providers in 29 communities nationwide, inched up 29 percent on an annual basis to 713.16 million. This covered transactions amounting to PHP3.83 trillion, up 22 percent annually.
The bank serves as the conduit for the government’s Fuel Subsidy Program, and facilitated around PHP1.2 billion cash aid to over 109,000 public utility vehicle drivers nationwide as of Nov. 2. (Joann Santiago-Villanueva/PNA)
