WebClick Tracer

March 01, 2024

Landbank tapped to deliver pre-disaster aid

Government-owned Land Bank of the Philippines headed by bankero Cecilia Borromeo has partnered with the Department of Social Welfare and Development (DSWD) and the United Nations Children’s Fund (UNICEF) to provide pre-disaster financial assistance to about 22,000 families from typhoon-prone towns in Catanduanes and Northern Samar.

“Landbank’s collaboration with the DSWD and UNICEF ensures the delivery of immediate and secure cash assistance to vulnerable sectors in high-risk towns prone to typhoons. This complements our efforts towards building stronger and more resilient communities, as part of our broader thrust of serving the nation,” the bankero said.

Under the partnership, Landbank will disburse multi-purpose unconditional cash transfers to beneficiaries under the DSWD’s Conditional Cash Transfer (CCT) program worth P1,000 each via Landbank prepaid cards.

The cash transfers will be disbursed three days prior to the expected landfall of a Category 4 or 5 typhoon.

Target beneficiaries of the program—more popularly known as the Pantawid Pamilyang Pilipino Program (4Ps)—include families residing in the municipalities of Baras, Bato, San Andres and Virac in Cantanduanes, and the municipalities of Catarman, Catubig, Gamay, Mondragon, and San Roque in Northern Samar.

The provision of cash transfers to selected 4Ps beneficiary-households is part of the pilot testing of the United Nations (UN) Central Emergency Response Fund (CERF) for Anticipatory Action in the country, designed to mitigate the impact of typhoons on people’s homes and livelihood while building on the government’s mandatory pre-emptive evacuation procedures.

Beneficiaries can use the Landbank prepaid cards to withdraw cash assistance from Landbank ATMs and agent banking partners, and make cashless purchases in groceries and drugstores via point-of-sale (POS) terminals.

As of end-May, Landbank has produced cards for all 4.4 million 4Ps beneficiaries nationwide to facilitate timely, safe and convenient distribution of cash subsidies from the national government.

RELATED ARTICLES

Security Bank posts net income of PHP9.1 billion in 2023

Security Bank Corporation (PSE: SECB) posted net income of PHP9.1 billion in 2023. Total revenues grew 8% year-on-year to PHP43.0 billion. Net interest income increased 19% to PHP34.7 billion. Net interest margin for the full year was 4.49%, higher compared to 4.23% in 2022. Total non-interest income was at PHP8.2 billion. Service charges, fees and commissions grew 15% to PHP6.1 billion, led by increase in fees from credit cards, remittances (which include Instapay fees) and bancassurance.

Read More ...