Land Bank readies P3 billion loan portfolio in Bicol

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By Nancy I. Mediavillo

LEGAZPI CITY, 30Sept2013 (PNA) – The Land Bank of the Philippines (LBP) Legazpi and Naga branches have already lent a combined amount of P3 billion to its clients in the Bicol region as of this year, a top bank executive here said.

Gil Jose Sarte of the LBP Naga branch said over the weekend that the combined loan portfolio of the LBP Legazpi and Naga lending centers is expected to increase further toward the end of this year, owing to the significant role of the bank in the economy of the region.

One of the leading universal banks in the country, the bank held its LBP-LGU Regional Summit here over the weekend.

It is fourth among the leading banks in the country, Sarte said, with Banco De Oro as number one, followed by Metropolitan Bank as second and Bank of the Philippine Islands, third.

He added that the LBP is still the leading bank in terms of services to rural areas or the countryside.

Sarte said the LBP has a total of 300 branches nationwide, with 15 in Bicol — Camarines Sur, 6; Albay, 4; Camarines Norte and Sorsogon, two each; and Catanduanes and Masbate, one each.

The LBP official said the LBP plans to increase this number of branches in the region in the coming years.(PNA)

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