London-based magazine names Land Bank as PH’s Best Agribusiness Bank
The London-based Global Banking & Finance Review, an online and print magazine covering banking, trading, business, and technology, has singled out the Land Bank of the Philippines as the country’s Best Agribusiness Bank and the Best in Corporate Social Responsibility.
The Global Banking & Finance Review has been recognizing companies that demonstrate innovation, achievement, and strategy in particular areas of expertise and excellence within the financial industry since 2011.
In a statement, Land Bank said it remains the largest formal credit institution in the rural areas in the country with continued expansion of its loan portfolio in favor of its mandated and priority sectors, specifically farmers and fishers, microenterprises and SMES, agri- and aqua- businesses.
“We thank Global Banking & Finance Review for these awards, which assure us that we are on the right track in our continuing journey towards enabling growth in the countryside and becoming the best partner of our fellow Filipinos in improving their lives,” Land Bank president and CEO Gilda E. Pico said.
In the first quarter of the year, LandBank’s loans to small farmers, fishermen and other priority sectors amounted to P387.4 billion, 18 percent higher than a year ago.
Land Bank prioritizes lending to small farmers and fishermen, many of whom are agrarian reform beneficiaries. MSMEs, agri- and aqua projects are also a priority for the bank.