The Land Bank of the Philippines (LANDBANK) posted a net income of P25.69 billion
in the first three quarters of 2022, for a 54% growth from P16.7 billion year-on-year.
The increase in net income was driven by higher interest earnings from loans and
investments, boosted by gains from foreign exchange and non-recurring
miscellaneous income. This also pushes the Bank closer to meeting its 2022 full-year
net income target of P25.71 billion.
“The sustained earnings and solid capital base of LANDBANK keeps it in prime
position for sustainable growth, which extends to the development sectors that we
serve. We will continue to direct our robust loan portfolio to drive support for
agriculture alongside other key industries,” said LANDBANK President and CEO
Cecilia C. Borromeo.
LANDBANK’s total assets likewise grew to P2.8 trillion or 8% higher than the P2.6
trillion a year ago. This was propelled by deposits amounting to P2.4 trillion, mainly
due to deposits from private individuals, local government units (LGUs) and national
government agencies.
Meanwhile, the Bank’s capital stood at P204.4 billion as of 30 September 2022.
Financial ratios also remain at healthy levels, with return on equity at 14.89%,
return on assets at 1.15%, and net interest margin at 3.1%.
LANDBANK’s sound financial position is furthering its capacity to extend financial
support to development sectors, as part of its broader thrust of serving the nation.
As of end-September 2022, the state-run Bank’s agri loan portfolio reached P259.2
billion, with a total of 3.36 million small farmers and fishers assisted through
LANDBANK’s network of 607 branches, 58 lending centers, 2,899 ATMs, and 970
Agent Banking Partners nationwide.
