LANDBANK nine-month profit rises 8% to PHP 37.53 billion

State-owned Land Bank of the Philippines (LANDBANK) posted a net income of PHP 37.53 billion in the first nine months of 2026, up 8% year over year, driven by strong third-quarter earnings and expanding core banking operations.

Net income for the third quarter alone reached PHP 13.32 billion, helping sustain the bank’s profitability amid continued growth in lending and digital banking services.

The latest performance marked a turnaround from the first half of 2026, when LANDBANK reported a 4% decline in net income to PHP 24.21 billion.

The bank also recorded new highs in its balance sheet, with total assets reaching PHP 3.56 trillion and deposits climbing to PHP 3.11 trillion as of Sept. 30, 2026.

“Our strong financial performance reflects the continued trust of our clients in LANDBANK. This growth affirms the strength of our client-focused solutions and our ability to deliver on our developmental mandate while maintaining sound and disciplined operations,” LANDBANK President and CEO Lynette V. Ortiz said.

Financial strength drives broader development impact

LANDBANK continued to channel substantial resources toward its development mandate, particularly in agriculture, fisheries and rural development (AFRD).

Outstanding loans to these sectors reached PHP 894.41 billion as of September 2026, up 10% from PHP 812.79 billion a year earlier.

The amount accounted for nearly 55% of the bank’s gross loan portfolio, underscoring its role in financing agricultural production, rural enterprises and countryside development.

As a government-owned financial institution, LANDBANK is mandated to support farmers, fishers, agrarian reform beneficiaries and other underserved sectors while maintaining financial viability.

The bank also expanded financial inclusion through its Cash-Lite Program, bringing secure, interoperable digital payment services to 29 communities nationwide as of the end of September.

It further improved digital account opening by integrating real-time identity verification, allowing customers registered in the National ID System to open accounts online without presenting physical identification cards.

The initiative forms part of efforts to lower barriers to formal banking, particularly for Filipinos in underserved and geographically isolated communities.

Digital transactions increased 29% year over year to 713.16 million, reflecting growing customer adoption of the bank’s electronic payment channels.

The total value of these transactions rose 22% to PHP 3.83 trillion, highlighting the expanding scale of LANDBANK’s digital banking operations.

The LANDBANK Mobile Banking App remained a major growth driver, with unique active users surging 71% to 3.69 million.

Beyond commercial and development banking, LANDBANK continued to support government assistance programs through its nationwide banking and payment infrastructure.

Under the national government’s enhanced Fuel Subsidy Program, the bank facilitated the distribution of PHP 1.2 billion in financial assistance to more than 109,900 public utility vehicle drivers nationwide as of Nov. 2, 2026.

The program provides financial relief to eligible transport workers facing fuel-related operating expenses.

Global awards recognize development finance and innovation

LANDBANK’s financial performance and development initiatives also earned recognition from local and international institutions.

The Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) recognized two LANDBANK initiatives at its 2026 Sustainable Development Awards in Colombo, Sri Lanka.

The bank received recognition for its Enhanced Lending Program for Local Government Units under the local economic development category and its Agri-Fishery Support through Capability Enhancement for Nationwide Development (ASCEND) Program under financial inclusion.

The awards highlighted LANDBANK’s efforts to expand financing for local development projects and improve access to credit in agricultural communities.

The Philippine Energy Awards also recognized the bank with the Sustainable Energy Finance Award for its support of renewable energy and clean energy projects.

The recognition reflects LANDBANK’s growing participation in financing initiatives that support the country’s energy transition and long-term sustainability goals.

Meanwhile, International Banker named LANDBANK the Best Commercial Bank and Best Sustainable Bank in the Philippines for 2026.

The distinctions recognized the bank’s achievements in financial inclusion, digital innovation, sustainable finance and customer-focused banking.

The recognitions come as LANDBANK continues to balance its commercial banking operations with its mandate to finance priority sectors and expand financial services across the country.