LandBank reports P20.3-B net income in H1

By Mayvelin U. Caraballo

Aug 04, 2022 12:37 am

THE government-owned Land Bank of the Philippines (LandBank) reported double-digit increases in assets and deposits combined with a net income growth of 93.5 percent to P20.3 billion in the first half of 2022 from P10.3 billion the previous year.

In a statement, LandBank attributed the significant growth in its net earnings to prudent management of the cost of funds and sustained interest revenue from loans and investments.

ONBOARDING THE UNBANKED A file photo of a Land Bank of the Philippines branch in Makati. According to the state-run lender, over 7 million unbanked Filipinos were onboarded as part of promoting financial inclusion. PHOTO BY ENRIQUE AGCAOILI

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