The Land Bank of the Philippines opened four new agri-hubs in the provinces of Oriental Mindoro, Bukidnon, Misamis Occidental and Misamis Oriental, expanding its physical touchpoints to better serve farmers and fishers in the country.
Agri-hubs provide combined services of banking, lending and agrarian services to the country’s top rice-producing provinces, including unbanked and underserved rice farming areas.
The development also raised the total number of the bank’s agri-hubs in the country to 16 to complement 607 branches and 58 lending centers nationwide, as of end-2022.
“Our continued expansion of Land Bank agri-hubs across the country forms part of our commitment to deliver responsive and timely financial services to the agriculture sector, especially to small farmers and fishers. We strive to make our banking products and services more accessible especially in underserved areas to help boost agricultural production and build stronger local communities,” Cecilia Borromeo, Landbank president and chief executive officer, said in a statement.
The bank said the agri-hub in Plaridel, Misamis Occidental will primarily serve over 23,000 farmers and fishers within the municipality and its neighboring town of Lopez Jaena while the one in Claveria, Misamis Oriental will cater to the banking requirements of more than 13,000 farmers and fishers in the municipality.
The agri-hub in San Fernando, Bukidnon will service 24 barangays, including 11,000 farmers and fishers as the one in Bongabong, Oriental Mindoro will provide accessible financial services mainly to 12,233 farmers and fishers in the area.
Landbank said agri-hubs also offer banking services such as account opening, withdrawals and check encashments; lending services such as the processing of loan applications; and agrarian services such as processing of Agrarian Reform bonds and handling of agrarian-related concerns from landowners, bondholders and agrarian reform beneficiaries. – Jed Macapagal