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May 27, 2024

LandBank completes merger with UCPB, eyes agribusiness value chain nationwide

Land Bank of the Philippines has completed its merger with United Coconut Planters Bank (UCPB), further strengthening its position as the country’s second-largest bank.

The move saw all UCPB branches converted to the Landbank brand ahead of the Bangko Sentral ng Pilipinas’ March 1 deadline, expanding the bank’s reach with an additional 188 branches and over 495,000 accounts.

The merger is part of Landbank’s plans to bolster its resources for agriculture and rural development, enabling it to reach more players in the agribusiness value chain nationwide.

Landbank’s president and CEO, Cecilia C. Borromeo, described the merger as a “seamless” and “timely” fusion of the two government commercial banks.