Allow us to clarify the opinion column of Mr. Jake J. Maderazo – “Landbank’s services to government employees, 4Ps and pensioners need to be improved” – August 09, 2022.
We are the only bank with a presence in all 81 provinces of the country, and in line with our continued drive to advance financial inclusion and campaign development, we continue to increase our touchpoints with our customers.
Currently, LANDBANK is present in 1,226 of the 1,634 cities and towns in the country, with a penetration rate of 75%. As of June 30, 2022, we had a total of 608 branches, 58 lending centers, 936 Agent Banking Partners (ABP) and 231 cash dispensers (CDM) nationwide.
The Bank also has an extensive ATM network of 2,869 as of August 08, 2022, strategically distributed across the country. LANDBANK cardholders can also transact for free at 1,850 7-Eleven ATMs in select areas, which will soon grow to 3,000 stores nationwide, easily doubling our existing ATM network.
On August 05, 2022, we inaugurated 10 new mobile ATMs as part of our 59th anniversary celebration, bringing to 20 the total number of mobile ATMs we deploy in areas affected by natural disasters and calamities, as well as than for the distribution of cash payments. -outings to remote areas for beneficiaries of 4Ps and government cash grants or “ayuda”.
At the same time, the Bank is continuously improving its systems to ensure safe and efficient banking services. These system upgrades are always performed during off-peak periods, i.e. before or after paydays, to minimize service disruptions, with corresponding customer reviews posted on our official social media channels. to immediately inform our customers.
LANDBANK does not have a “service quota” of only 1.1 million transactions per day. We have the capacity to cater to the needs of government employees, indigent 4Ps and senior citizens, among our other clients.
Nor is the Bank “trying to retain” “billions of salaries and social pension funds” to increase our assets and deposits. The 94% increase in revenue from January to June 2022 to 20.3 billion pesos compared to the Bank’s revenue of 10.3 billion pesos for the same period last year was due to our careful cost management funds, to sustained interest income from loans and investments, and the merger between LANDBANK and UCPB in March 2022.
We continue to provide banking services to government agencies through our branches and ATMs located in government office premises, with the public sector accounting for the bulk of LANDBANK’s total deposits at 62% or 1.530 billion pesos.
For the 4Ps, please note that the DSWD instructs LANDBANK to finance the prepaid cards (formerly Cash Cards) of the beneficiaries according to the scheduled installments. Subsidies already credited to prepaid cards are not part of the Bank’s assets since the credited subsidies already belong to the beneficiaries. These can be withdrawn at any time through LANDBANK ATMs, Point of Sale (POS) terminals at our ABPs in remote areas that allow withdrawal transactions such as ATM or Over the Counter (OTC) withdrawal at their designated location. LANDBANK Servicing Branches, as well as through the more than 20,000 ATMs of other BancNet member banks nationwide.
To date, LANDBANK has already fully carded 4.4 million 4Ps beneficiaries. The bulk of unclaimed 4Ps prepaid cards totaling 200,000 are for BARMM beneficiaries. Rest assured that LANDBANK and DSWD are in close coordination to facilitate the completion of the distribution of 4Ps prepaid cards.
VIVIAN M. CAÑONERO
Head, Corporate Affairs Group
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