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Landbank records 16% hike in assets to P2.362T

SunStar
+
February 15, 2021
DEPOSITS breached the P2-trillion mark, allowing state-run Land Bank of the Philippines (Landbank) to record a 16.1 percent increase in total assets of P2.362 trillion in 2020 from its 2019 level of P2.033 trillion.
Landbank said deposits expanded to P2.093 trillion, 17.4 percent higher from P1.783 trillion in 2019. This also fueled a significant 41.4 percent growth in investments from P694.9 billion to P982.5 billion.
"Landbank posted marked growth in assets and deposits in 2020 -- a record achievement given the widespread economic impact of the health crisis. We will build on these gains and continue along this path to better serve our priority sectors, especially small farmers and fishers, micro, small and medium enterprises and other key development players," said Landbank president and CEO Cecilia C. Borromeo.

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