Land Bank of the Philippines (LANDBANK) welcomed the recent issuance of Executive
Order No. 65, which authorizes the merger of the LANDBANK Leasing and Finance
Corporation (LLFC) and UCPB Leasing and Finance Corporation (ULFC).
President Ferdinand R. Marcos Jr. signed EO 65 on 6 August 2024, which effectively
merges the two leasing and finance corporations, with LLFC as the surviving entity.
Both LLFC and ULFC are subsidiaries of LANDBANK, with the latter becoming a
subsidiary upon the merger of LANDBANK and the United Coconut Planters Bank
(UCPB) in 2022.
“Given the similar product and service offerings, this synergy will enhance
LANDBANK’s leasing and financing market power and reach. The move is also
consistent with the national government’s streamlining to address duplication of
functions, and organizational right-sizing to reduce the demand on government
resources such as personnel and infrastructure, among others,” said LANDBANK
President and CEO Lynette V. Ortiz.
The merger positions LLFC to better support the national government’s development
agenda, with its strengthened capital base and improved operational capacity.
The state-run Bank also assured the clients of LLFC and ULFC that the merger will be
smooth and orderly—with customer servicing unhampered—and conducted with the
welfare of all stakeholders in mind.
ABOUT LANDBANK
LANDBANK is the largest development financial institution in the country promoting
financial inclusion, digital transformation, and sustainable national development.
Present in all 82 provinces in the county, the Bank is committed to provide accessible
and responsive financial solutions to empower Filipinos from countryside to
countrywide.
