Saturday , June 23, 2018

Landbank allots 80% of loan portfolio to agri finance

ABOUT 80 percent of the loan portfolio of Landbank of the Philippines (LBP) is allotted for agriculture financing.

The Davao Agri Trade Expo (Date) 2017, which will be on September 21 to 23 at the SMX Convention Center, will be featuring agri-financing as one of their highlights.

According to Davao City Chamber of Commerce and Industry Inc. vice president for industry Wilfredo Teves, different banks will be present during the expo primarily to showcase and discuss the agricultural loan programs that they can offer.

These banks include China Savings Bank, BDO, Development Bank of the Philippines, Security Bank, and a number of cooperative banks.

"During the duration of the expo, the focus of our agri financing help is on group discussion. Not only Landbank, but the other banking sectors will also be there to present their programs on agri financing to the participants" said Jose dela Cruz of LBP said.

He added they will have a booth during the expo with their loan programs presented in LED screens so the participants can view. Dela Cruz also said a huge chunk of their loan portfolio is being loaned for agricultural purposes or about 80 percent. He added an 8 to 10 percent increase was noted from 2016 to 2017.

LBP caters to different types of borrowers whether through cooperatives, companies, proprietorship, or association. He said the loanable amount will be depending on the required amount of the borrower's project in mind and the paying capacity among others.