LAND BANK OF THE PHILIPPINES
HOMEGROWN SOCIAL IMPROVEMENT PAY
Bringing banking services to the rural areas of the Philippines since 1963, the Land Bank of the Philippines has built an extensive rural branch network that has become the envy of the country's banking industry.
Striking a balance between its social mandate of promoting countryside development and staying financially viable, land Bank is today the country's fourth largest bank and biggest government owned or controlled corporation in the Philippine "Our dream really is to be at par with' best in the industry, because being a government institution should not be a constraint for us to be the best," explains Land Bank President and CEO Gilda E. Pico." lf you look at the top three bank they have all benefited from the advantage of a merger. Land Bank is number four, but we have never merged. So it really through the efforts of the officer and staff that the bank grew." Land Bank has three interconnected business goals: pursuit of its mandate enhanced customer service, and institutional viability. The bank boasts an impressive loan portfolio: out of $2.31 lion total loans, 70 percent - or about $1.6 billion - goes to the priority sectors. In 2000, it was only 36 percent. Ms. Pico adds, "Even if we are at pace with the ongoing evolution in the banking system, we do not forget our mandate which is really the countryside. Our priority sectors are the farmers and fisher folk, micro as well as small and medium enterprises, agri-business and production. We also cater to key development partners, like the rural banks, local government units, and to Overseas Filipino Workers who come from all over the country. We really want to make a difference."