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Monday, September 20, 2004
Land Bank bares five-year goals
THE Medium Term Business Plan of the Land Bank of the Philippines (LBP) otherwise known as "Plan 327" sets the business direction of the bank.
LBP president and chief executive officer Gary Teves explained that from 2003 to 2007, the bank aims to focus on its fundamental objectives and core businesses that are interrelated and reinforcing.
Teves was in Davao City recently to deliver his State of The Bank Address (Soba), highlighting LBP's first seven months performance.
The bank has released a total of P7.8 billion in loans, benefiting 250,000 small farmers and fisher folks nationwide.
Teves said the objectives under Plan 327 are reflective of the three roles played by LBP: 1) pursuing the development mandate; 2) ensuring quality customer service and products; and, 3) sustaining long-term institutional viability.
He said LBP will continue to devote its loan portfolio to priority sectors and come up with reliable and efficient service.
Teves said of the 348 branches nationwide, the National Capital Region has 93; Luzon, 130; Visayas, 54; and Mindanao, 71.
He said 2004 is the year of the customer for LBP.
"Pursuing our mandate through enhanced customer service would mean more automated teller machines (ATMs), more convenient banking options, and improved response time," he said.
He said by the end of 2004, at least 564 ATMs will be set up all over the country and 120 of these machines will be located in Mindanao.
The Land Bank Phone Access is now available in Davao and soon in Misamis Oriental and Lanao del Norte, he said.
He said customers can do Internet banking to pay utility bills and conduct other banking transactions.
"We will give our clients shortened loan processing time at the field level by increasing the approving authority of officers and reducing processing time of production loans from 75 working days to 30 days," he said.
He said they will also reduce the processing time of Carp land transfer claims.
(September 20, 2004 issue)
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