“We are confident about meeting our full-year target of P13.75 billion, as income from loans and investments remain strong,” LandBank president and chief executive Alex Buenaventura said in a statement. Return on equity as of end-June was at 14.55 percent, while net interest margin stood at 3.03 percent, both above latest industry averages. Total deposits jumped 17 percent to P1.32 trillion from P1.13 trillion, while total capital stood at 97.4 billion, a 9-percent hike from the same period last year. LandBank remains the biggest lender to the agricultural sector, especially small farmers and fishers as well as micro-enterprises and SMEs. LandBank attained a net income of P13.6 billion in 2016, up by 2 percent from P13.3 percent in 2015.

Source: The Standard August 16, 2017 13:15 UTC