Landbank or Land Bank of the Philippines is one of the leading banks in this area which is owned by Philippine government. Bank provide its customers with all types of financial and banking services, however the main its purpose is to meet the financial needs of farmers and fishermen. It is one of the few banks in Philippines which have got the universal banking license. If you are interested in the landbank history, or simply want to get answers on the questions related to the bank’s work, its branches, ATMs or landbank office hours, this article is for you. Here we will consider main information about the bank work and answer the most popular questions. This information will be useful both for bank’s clients and people who are going to start using Land Bank’s services. We will start our article from the history of LandBank.
Main moments of the Land Bank history
Nowadays Land Bank is considered to be the largest bank in the whole Philippines area which is owned by the government. It also occupies the fourth position in the terms of assets among all banks in Philippines.
Let’s start from the beginning. Land Bank appeared in Manila, Philippines in the year 1963. The main its purpose was to help Filipinos with the purchasing and resale of the agricultural estates to other landholders. Also it helped agricultural lessee in the land purchasing. In the year 1973 situation has changed and LandBank was in crisis because of the lack of resources and capital for implementation of the programs for land reforming. But in June, 21 everything has changed when the president signed the decree which gave the universal banking license to LandBank. At that time, it was the first bank which got such license. The main purpose of this decree was to stimulate the rural areas development. After getting the license, LandBank’s has significantly expanded its powers and started developing rapidly. The Presidential decree also allowed the bank not to pay taxes and exempted it from all assessments.
To date Bank has a great network of branches which consists of more than 365 branches and around 1600 ATMs worldwide. Today its main competitors are such Philippine banks as Philippine National Bank, Banco de Oro, Metrobank and Bank of the Philippine Islands.
Land Bank’s Ownership, Branches and ATMs
Today landbank head office is located in Manila, Philippines. The bank doesn’t have a private landbank owner and is owned by the Philippine government. The number of its branches and ATMs due to the latest official information is equal to 365 and 1607 respectively. New landbank branches continue to appear and according to official sources, in this year more than ten new branches are planned to open. As all leading large banks in Philippines and not only, LandBank offers its clients to use Branch/ATM locator for fast and easy search of the nearest landbank atm. Also using this locator, you will be able to find the current information about landbank banking hours and working days of each branch.
Playing a great role in the development of all agriculture in Philippines, Landbank continues its developing and places one of the top positions among all Philippine banks.