STATE-RUN Land Bank of the Philippines, the third-largest lender in terms of assets, will open 10 branches and extension offices this year as part of an expansion program to serve more clients nationwide and promote greater financial inclusion.
LandBank said in a statement Monday it opened two branches in San Nicolas, Ilocos Norte and Caticlan, Aklan in March, bringing its total number of branches and extension offices to 372.
The next two branches to be opened are in Binalonan, Pangasinan and San Ildefonso, Bulacan. The bank is also set to open branches in Lopez, Quezon; Silang, Cavite; Balamban, Cebu; Koronadal and Tupi in South Cotabato; and Tubigon, Bohol. LandBank expects to finish the year with 380 branches and extension offices nationwide.
LandBank is the only bank present in all of the country’s provinces, including underserved regions like the Autonomous Region in Muslim Mindanao.
“This is in keeping with our thrust to better serve LandBank’s growing clientele and further expand our reach, especially to unbanked sectors in underserved areas,” president and chief executive Alex Buenaventura said in a statement.
The bank launched this month the LandBank Inclusive Banking Center in support of the government’s drive toward inclusive banking and more efficient service. The first LIBC was set up at the Land Transportation Franchising and Regulatory Board main office in Quezon City. This will help LTFRB streamline its processes for the ease and convenience of its payor-clients.
The LIBC is an interconnected and interoperable facility with a point-of-sale terminal linked to the agency’s cashiering system, cash deposit machine, ATM, and pre-generated ATM cards for client-payors without ATM card to pay via the POS.
Meanwhile, LandBank is also looking to install 25 additional cash deposit machines in its different branches this year to add to the 87 existing CDMs.