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LandBank facilitates P3.42-b Premyo bonds

Land Bank of the Philippines said Monday it facilitated more than 6,700 orders worth P3.42 billion of one-year peso-denominated Premyo Bonds 2, or “Premyo Bonds Para sa Bayan 2,” which represents 52 percent of the total P6.56 billion raised by the Bureau of the Treasury from the bond offering.

LandBank president and chief executive Cecilia Borromeo said the bulk, or P2.98 billion of the total Premyo Bonds 2 sales, were generated via over-the-counter placements at LandBank branches, while P78.5 million in sales were generated through the bank’s online channels.

It said of the P78.5 million online sales, P40.7 million was transacted through the pilot launch of the bond purchase feature in the mobile banking application of the Overseas Filipino Bank, the digital-only branchless bank subsidiary of LandBank. 

The remaining P37.8 million was generated through LandBank’s Link.BizPortal via the BTr’s online ordering facility.

“Despite a pandemic-induced recession, we observed wider participation for the Premyo Bonds 2 offering. This became possible through more accessible online ordering platforms, which include the OFBank Mobile Banking Application that encouraged more Filipinos abroad to invest their hard-earned money in safe and affordable government securities,” Borromeo said.

Topics: Land Bank of the Philippines , Premyo Bonds 2 , Premyo Bonds Para sa Bayan 2
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