LANDBANK of the Philippines’ (LandBank) net income increased by 52 percent to P4.26 billion in the first quarter of 2018 from P2.81 billion a year ago. LandBank attributed a big portion of the increase to loans, which grew by 25 percent on account of the bank’s total loan portfolio. “The bank’s solid financial performance is our source of financial muscle to attain our bigger mission of promoting inclusive growth,” he said. LandBank remains aggressive in strengthening its lending programs and tailoring new programs to the needs of its clients, especially its priority sectors, the lender said. The state-owned bank claims it is still the biggest lender to the agricultural sector, especially small farmers and fishermen, as well as micro, small and medium enterprises (MSMEs).

Source: Manila Times May 09, 2018 16:41 UTC