STATE-RUN Land Bank of the Philippines, the third-largest lender in terms of assets, plans to open 19 more branches in strategic places nationwide this year to widen its reach and seize growth opportunities in the countryside.
LandBank president and chief executive Alex Buenaventura said Wednesday the expansion would cover several locations in the country, including low-class municipalities.
“A number of selected locations for our new branches belong to 4th to 6th class municipalities, the same areas we targeted in our financial inclusion caravan. This is still in line with our fervent drive to promote greater financial inclusion, especially among Filipinos in the unbanked and underserved rural areas,” Buenaventura said.
LandBank plans to open seven new branches in Luzon, two in Visayas, and 10 in Mindanao for a total of 19 new branches.
LandBank is the only bank present in all of the country’s provinces with its nationwide network of 380 branches and extension offices.