Total LandBank-UCPB assets to reach P3T

The completion of the government-approved merger of Land Bank of the Philippines (LandBank) and United Coconut Planters Bank (UCPB) will result in combined assets of close to P3 trillion.

"The merged assets will significantly grow LandBank's loan portfolio directed at servicing the whole agriculture sector, especially coconut farmers, alongside key development industries. The synergy created by the merger will provide a much better position for us to respond to the evolving needs of our diverse clientele, especially the underserved and unbanked," said LandBank President and Chief Executive Officer (CEO) Cecilia Borromeo in statement over the weekend.