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September 24, 2023

Landbank opens corporate center in Davao City

State-run Land Bank of the Philippines led by bankero Cecilia Borromeo has opened a new corporate center in Davao City as part of its commitment to boost financial inclusion in the country.

Borromeo joined outgoing Finance Secretary and Landbank in unveiling the marker for the newly inaugurated corporate center of the government-owned financial institution.

They were joined by Landbank director Jaime Miralles, Davao City councilor Diosdado Mahipus Jr. representing Davao City Mayor-elect Sebastian Duterte, Mindanao Development Authority Chairperson Maria Belen Sunga-Acosta, Landbank vice president for National Development Lending Sector Liduvino Geron, and Landbank Executive Vice President for Corporate Services Sector Alex Lorayes.

Landbank continues to investment in one of the country’s fastest-growing regions, underscoring its commitment to expanding financial inclusion among Filipinos.

The center, which is the biggest of Landbank’s corporate offices outside the National Capital Region, will serve as a one-stop-shop for its over 30,000 clients in Southern and Eastern Mindanao.


Three rural banks merge to enhance financial stability

Three rural banks have successfully merged in a move aimed at bolstering their financial stability, as confirmed by the Bangko Sentral ng Pilipinas (BSP). The merger officially took effect on July 13, following the necessary regulatory approvals, as detailed in a circular letter signed by Bankero and BSP Deputy Governor Chuchi G. Fonacier on September 15.

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