DOF honors LANDBANK’s Key Partners

MANILA, Philippines – Finance Secretary Ralph G. Recto recognized Landbank of the Philippines’ (LANDBANK) outstanding partners, including cooperatives, micro, small, and medium enterprises (MSMEs), financial institutions, and farmers, as vital contributors to the nation’s economic growth and development.

The acknowledgment was made during the annual Models of Excellence Recognition Initiative for Top Bank Clients (MERIT) Program held on August 8, 2024.

“The success stories of our awardees every year mirror the potential of our nation. It illustrates how far we can progress when we commit to being each other’s steadfast partners in development,” Recto said in his speech at the awarding ceremony.

This year, LANDBANK honored 14 MERIT awardees across various categories, including agri and non-agri cooperatives, MSMEs, large corporations, financial institutions, and individual farmers.

These awards recognize clients who have demonstrated excellence, contributed significantly to financial development, and maintained strong relationships with the bank.

Recto particularly praised the cooperatives under the Gawad sa Pinakatanging Kooperatiba (Gawad PITAK) Program, highlighting their role in combating poverty. Among the recognized cooperatives were the Alicia Neighborhood Multi-Purpose Cooperative, Sorosoro Ibaba Development Cooperative, Ating Ani Nueva Ecija Multi-Purpose Cooperative, and Ligas Kooperatiba ng Bayan sa Pagpapaunlad.

“These outstanding cooperatives are among the country’s main poverty-fighting forces. They have been supporting the future of our farmers, fisherfolks, and local communities so they can start their own business, sustain livelihoods, and boost their capacity to ensure the nation’s food security and prosperity,” Recto said.

In addition to cooperatives, the awardees included key financial institutions such as ProFarmers Rural Banking Corporation, Producers Savings Bank Corporation, and ASA Philippines Foundation under the Gawad Partner Financial Institution (Gawad PFI) Program.

Recto acknowledged these institutions for bringing financial support to underserved areas across the Philippines.

Under the Gawad MSME Program, Fralyn B. Cruz and Sandig Medical Clinic and Hospital were honored for their contributions to food security in Luzon and healthcare access in Sultan Kudarat, respectively.

Recto also recognized large corporations like Asialink Finance Corporation, DoubleDragon Corporation, and Soliman E.C. Septic Tank Disposal under the Gawad KAAGAPAY Program for their roles in infrastructure development and sustainable waste management.

Recto concluded by paying tribute to farmers Deodany L. Cara and Roderick G. Capalongan under the Ulirang Magsasaka Program, describing them as visionaries who are paving the way for a new generation of Filipino farmers committed to innovation and sustainability.

The Finance Secretary also highlighted LANDBANK’s historic achievement of remitting PHP 32.12 billion in cash dividends to the national treasury last April, the highest ever by a government-owned and controlled corporation (GOCC). These dividends, he noted, will be used to fuel the country’s growth, create jobs, and lift more Filipinos out of poverty.

“Because the more people LANDBANK reaches, the more support it extends, and the more unbanked individuals it onboards in the financial system—the more Filipino lives are being secured and transformed,” Recto emphasized.

The ceremony was attended by notable figures including LBP President and CEO Lynette Ortiz, Bangko Sentral ng Pilipinas Governor Eli Remolona, Jr., and Undersecretary Maria Luwalhati Dorotan Tiuseco.