BACACAY, Albay – In line with its thrust to promote inclusive economic growth, the
Land Bank of the Philippines (LANDBANK) established the first-ever commercial bank
in this 2 nd class municipality.
LANDBANK officially opened its Bacacay Branch-Lite on 27 March 2023 in Barangay
11 to cater to the banking needs of residents in the town’s 56 barangays, as well as
the nearby municipalities of Malilipot and Sto. Domingo.
Bacacay Mayor Armando B. Romano and LANDBANK Senior Vice President Althon C.
Ferolino led the opening of the Branch-Lite, together with Malilipot Mayor Cenon
Volante and other local government officials. They were joined by LANDBANK
Bacacay Branch-Lite Head Vincent Villar, current and former Tabaco Branch Heads,
Marivic R. Nuñez and Emmanuel B. Hizola, respectively, and Legazpi Branch Head
Assistant Vice President Cesar A. Ramirez.
“Napakalaki po ng matitipid ng Bacacayanos with the opening of a LANDBANK
Branch-Lite here in our municipality. With this, we hope to encourage our
constituents to open formal bank accounts and establish a savings fund for their
future,” said Mayor Romano.
To set an example for his constituents, Mayor Romano opened his personal piggy
bank during the inauguration and deposited his savings to a LANDBANK account,
becoming the very first depositor of the Branch-Lite.
The newly inaugurated Branch houses one automated teller machine (ATM) and one
cash deposit machine (CDM) to cater to the cash requirements of local residents,
including more than 7,600 beneficiaries of the Conditional and Unconditional Cash
Transfer (CCT/UCT) programs of the Department of Social Welfare and Development
(DSWD), as well as government employees and students, among others.
To help simplify the account enrolment process and reduce the account opening
time of customers, the LANDBANK Bacacay Branch-Lite also features a Digital Corner
where customers can open a deposit account using the Bank’s Digital Onboarding
System (DOBS).
With the opening of its Branch-Lite in Bacacay, LANDBANK now has seven Branch
and Branch-Lite units in the Province of Albay – two (2) in Legazpi City, one (1) each
in the cities of Ligao and Tabaco and the municipalities of Daraga and Polangui,
complemented by 43 ATMs and four CDMs.
