Lesson 3

Question 1

A government financial institutions that strikes a balance in fulfilling its social mandate or promoting countryside development while remaining financially viable

Answer 1

Landbank of the Philippines

Question 2

By 2028, LANDBANK shall be at the forefront of nation-building through the promotion of financial inclusion, digital transformation and sustainable development that benefits all Filipinos

Answer 2

Landbank’s Vision statement

Question 3

We are the leading universal bank with government mandate that provides responsive services beyond banking to all clients, publics, and stakeholders.

Answer 3

Landbank’s Mission statement

Question 4

Created the Land Bank of the Philippines to finance the acquisition and distribution of agricultural estates for division and resale to small landholders as well as the purchase of the landholding by the agricultural lesse

Answer 4

August 8, 1963
Republic Act 3844 (Agricultural Land Reform Code)

Question 5

Republic Act 3844
(Agricultural Land Reform Code)
Application:

Answer 5

• The LBP is Tax Exempt on all operations, holdings, equipment, property, income and earning.
• Agricultural Credit Administration (ACA) responsible for extending credit assistance to farmers cooperatives and directly to small farmers.
• **Exempted from cash or stock dividend payments **to the national government

Question 6

Due to deficiency and inadequacy both in capitalization and in organization structure to meet the implementation requirements of agrarian reform, the bank was revitalized.

Answer 6

July 21, 1973 =
Presidential Decree 251
(Revitalizing LANDBANK)

Question 7

July 21, 1973 =
Presidential Decree 251
(Revitalizing LANDBANK)

changes:

Answer 7

• Increased authorized capitalization to 3 billion PHP
• Increased the members of the Board of Directors to seven (7)
• Exempted from all national, provincial, municipal and city taxes and assessments

Question 8

The Increased the members of the Board of Directors to seven (7):

Answer 8

Vice-Chariman, LBP President
- Members (Ex-Officio)
* Secretary of Agrarian Reform
* Secretary of Labor
* Three Members, elected annually

Question 9

Increased authorized capitalization to 25 billion PHP by the Department of Finance and the President of the Philippines.

Answer 9

August 25, 1998
Increase of Authorized Capital

Question 10

February 23, 1995
Republic Act 7907 (Amended LBP Charter)
Changes:

Answer 10

• increased authorized capitalization to 9 billion PHP
• Increased the members of the Board of Directors to nine (9)
• Established LBP as an official government depository

Question 11

The Increased the members of the Board of Directors to nine (9):

Answer 11

Members (Ex-Officio)
* Secretary of Agrarian Reform
* Secretary of Labor
* Secretary of Agriculture
* 2 Representatives of Agrarian Reform Beneficiaries
* 2 Representatives from the Private Sector

Question 12

Republic Act 10374, LANDBANK’s corporate life was extended for a period of 50 years from the expiration of its or its original term of August 8, 2013, renewable for another 50 years.

Answer 12

March 5, 2013
Extension of LANDBANK’s
Corporate Life

Question 13

• LBP appropriated with Php 1 billion to subsidize the payment of interest on new and existing loans secured by LGUs from government financial institutions (GFIs)
• Php 27.5 billion to support wholesale banking and equity infusion of the LBP for low interest loans to be extended to persons and entities engaged in industries affected by the COVID-19 pandemic.

Answer 13

September 11, 2020
Republic Act 11494

Question 14

LBP TODAY

Answer 14

• Employees are at 11,000.
• Headquarters** in Malate Manila**
• Land Bank of the Philippines ranks fourth in terms of asset amounting to 2.9 Trillion Pesos as of 2021