State-run Land Bank of the Philippines said Tuesday it has fully restored regular banking operations in Cebu and Masbate following the recent earthquake and Typhoon Opon.
All LandBank branches in both provinces are now operational, except for the Aroroy, Masbate branch-lite unit, which remains temporarily closed due to a power outage.
Despite disruptions caused by the twin calamities, LandBank has mobilized P4.9 million in financial assistance for affected localities. This includes P2 million for Cebu province, P1.5 million for Bogo City, P500,000 for Masbate province, P200,000 for Masbate City and P100,000 each for the municipalities of Uson, Dimasalang, Cawayan, Cataingan, Mandaon, Milagros and Palanas.
LandBank president and chief executive Lynette Ortiz said the lender “stands ready to deliver both immediate and sustained financial lifelines to our fellow Filipinos in Cebu and Masbate.”
“Our emergency support programs ensure that all affected sectors, from farmers and fishers to MSMEs and wage earners, have the resources to recover and bounce back stronger,” she said.
LandBank personnel distributed 2,000 food relief packs to evacuees in Daanbantayan, Bogo City, Medellin and San Remigio, Cebu on Oct. 2 through the voluntary efforts and cash donations of employees.
The bank also teamed up with humanitarian organization Waves for Water (W4) to deploy portable water filtration systems in the hardest-hit areas to help restore access to clean water.
The bank said it is implementing several financial programs to support long-term recovery, including the CARES Plus Lending Program, which offers financing for MSMEs, cooperatives and utilities for working capital, repairs and disaster recovery.
The bank said it is also providing quick credit access to payroll account holders through its Electronic Salary Loan (eSL) facility available via digital platforms and the EasyCash for Emergencies program for credit card holders, which allows cash conversion with flexible repayment terms.
