The Land Bank of the Philippines (LANDBANK) generated a net income of P30.1
billion in 2022—surpassing by almost P5 billion its full-year target of P25.7
billion—for a significant 38.2% expansion from P21.7 billion in 2021.
The state-run Bank breached the P30 billion mark in total net income for the very
first time, driven by the substantial interest income from loans and investments,
alongside earnings from fees, commissions, and foreign exchange, among other
income sources.
“LANDBANK’s strong performance in 2022 represents another milestone year, with a
solid balance sheet that continues to overcome external headwinds and yield
sustainable growth. We look forward to a more favorable economic environment this
year, as we take on a more prominent role in nation-building as a development
institution,” said LANDBANK President and CEO Cecilia Cayosa Borromeo.
LANDBANK’s assets posted a double-digit growth of 21.5% to reach P3.1 trillion
from P2.6 trillion. The increase was propelled by deposits expanding 21.8% to P2.8
trillion from P2.3 trillion year-on-year.
The government sector accounted for the bulk of the Bank’s total deposits at 67.6%
or P1.9 trillion. This includes deposits from national government agencies and
GOCCs which increased by 48.1% and 22.5%, respectively, over the previous year.
LANDBANK’s capital likewise grew a modest 1.4% to P210.6 billion from P207.7
billion. This was accomplished despite the P8.5 billion in special cash dividends
remitted to the National Government in June 2022, due to the record net income.
Meanwhile, the Bank’s financial ratios remain at healthy levels, with return on equity
at 14.37%, return on assets at 1.05%, and net interest margin at 2.97%.
LANDBANK’s sound financial position is boosting its capacity to extend support to
key development sectors, as part of its broader thrust of serving the nation.
