THE Land Bank of the Philippines (LandBank) maintained on Monday, September 29, 2025, the regularity of millions worth of withdrawals related to flood control projects of the Department of Public Works and Highways (DPWH).
In a statement, Land Bank said there was no issue with the contractors’ withdrawals of funds since the money was deposited by the Department of Budget and Management (DBM) in line with the General Appropriations Act approved by Congress and disbursed by the DPWH.
“The bank affirms that all transactions in question were carried out strictly within the bounds of Philippine banking laws and regulations, under full compliance with government mandates and oversight requirements,” the bank said.
“These funds are legitimate government allocations, not private or unverified sources. LandBank, or any other financial institution, has no legal authority to block or question duly appropriated government disbursements,” it added.
The LandBank said protocols, including risk management procedures and document requirements for the opening of accounts, were properly observed and recorded during the questioned transactions.
“LandBank reiterates that its role is to faithfully execute banking transactions in accordance with law and regulatory standards, and not to assume investigatory functions outside its legal mandate,” it added.
Senators earlier flagged the withdrawal of nearly half a billion pesos in cash by Sally Santos, owner of a construction firm in Bulacan, in just two days.
Santos’ firm has been accused of involvement in substandard and non-existent flood control projects in Bulacan, which has been tagged as a hotspot for anomalous infrastructure programs.
During a Senate Blue Ribbon Committee inquiry, Santos said she delivered the withdrawn funds to dismissed DPWH engineer Brice Hernandez and Jaypee Mendoza.
Hernandez and Mendoza claimed the funds were paid to politicians as their commission for flood control project allocations. (TPM/SunStar Philippines)