The Ilocos Times

Land Bank of the Philippines (LANDBANK) has announced the availability of immediate financial assistance to businesses and individuals affected by Typhoon Kristine, reinforcing its commitment to helping rebuild communities and restore economic activity in hardly hit areas. Under the LANDBANK CARES Plus (Community Assistance and REintegration Support Plus) Lending Program, various sectors—including farmers, fishers, cooperatives, micro, small, and medium enterprises (MSMEs), large corporations, and electric distribution utilities—can access financial aid to rebuild, restore operations, and recover from disaster-related losses. “LANDBANK stands ready to provide accessible, responsive, and immediate financial assistance to sectors severely impacted by the typhoon. We are fully committed to doing our part in helping our kababayans and communities recover from this adversity while accelerating recovery efforts,” said LANDBANK President and CEO Lynette V. Ortiz. Eligible borrowers can...

The Land Bank of the Philippines (LANDBANK) is ramping up its digital transformation efforts this year to streamline operations and deliver top-notch customer experience. Since assuming leadership in May 2023, LANDBANK President and CEO Lynette V. Ortiz has prioritized the adoption of new technologies across the Bank’s operations to elevate customer convenience and accessibility to financial services. “We are heavily investing in enhancing our digital infrastructure to ensure seamless service delivery across our online banking channels and traditional touchpoints. Our priority remains steadfast in delivering solutions and exceptional service to our valued customers,” said President and CEO Ortiz. This year, LANDBANK aims to reduce over-the-counter transactions in its branches by encouraging customers to maximize the Bank’s digital banking channels. These include the LANDBANK Mobile Banking App, the iAccess online retail banking channel, and the Link.BizPortal web-based payment c...

The Land Bank of the Philippines (LANDBANK) is ramping up its digital transformation efforts this year to streamline operations and deliver top-notch customer experience. Since assuming leadership in May 2023, LANDBANK President and CEO Lynette V. Ortiz has prioritized the adoption of new technologies across the Bank’s operations to elevate customer convenience and accessibility to financial services. “We are heavily investing in enhancing our digital infrastructure to ensure seamless service delivery across our online banking channels and traditional touchpoints. Our priority remains steadfast in delivering solutions and exceptional service to our valued customers,” said President and CEO Ortiz. This year, LANDBANK aims to reduce over-the-counter transactions in its branches by encouraging customers to maximize the Bank’s digital banking channels. These include the LANDBANK Mobile Banking App, the iAccess online retail banking channel, and the Link.BizPortal web-based payment c...

By Noralyn Dudt In one of the first recorded Bitcoin transactions in 2010, a hungry computer geek in Florida spent 10,000 of the cryptocurrency on a couple of takeaway pizzas. By late 2017, the cost of those pizzas at Bitcoin's then market price was close to US$200 million. Not too long after that, the leading crypto's market value surpassed many of the world's largest companies, including Boeing, Toyota and McDonald's. Unbelievable? Such a vast sum, yes   for little value. Was it real ? Yes it was... but it didn't last long because it was just a bubble floating in the air. As with many other "bubbles" in the past this bubble also burst. Surely investors'   initial giddiness and excitement was soon wiped out when they realized that   their money was gone. But how can one explain   such irrational and irresponsible thinking—that investing a dollar in something "in the air" would yield a million times in such a short time?   It has to be...

The Philippine Deposit Insurance Corporation (PDIC), the statutory Liquidator of closed banks, will sell a total of 59 agricultural lots owned by various closed banks through electronic public bidding (e-bidding) on Nov. 19, 2021. The PDIC announced that it will accept bids from interested buyers from 9:00 a.m. on November 18, 2021 to 8:00 a.m. on November 19, 2021, via its e-bidding portal at https://assetsforsale.pdic.gov.ph . Bids will be opened starting at 9:00 a.m. on November 19, 2021. To be sold individually on an “as-is, where-is” basis are 53 agricultural lots (two of which have improvements) and six mixed agricultural-residential lots (two of which have improvements) with a combined minimum disposal price of P110.2 million. The properties are located in Bataan, Batangas, Cagayan, Laguna, La Union, Leyte, Marinduque, Palawan and Pangasinan. To complete the required one-time registration, interested parties can go to the PDIC Assets for Sale website at https://assetsfors...

As more savers opt to keep their money in banks, more deposit accounts in the Philippine banking system continue to benefit from deposit insurance provided by the Philippine Deposit Insurance Corporation (PDIC) up to the maximum deposit insurance coverage (MDIC) of PhP500,000 per depositor per bank. Latest data released by the state deposit insurer showed that as of September 30, 2020, 96.7%--or 76.1 million—of the 78.7 million total deposit accounts maintained in 537 banks nationwide are fully insured by PDIC. The total number of fully insured accounts was 11.8% more compared to the 68.1 million recorded in the same period in 2019. In terms of amount, 11.6% or PHP1.7 trillion of the PHP14.3 trillion total deposits is fully covered by deposit insurance and represents an increase of 11.3% from the PHP1.5 trillion insured deposits in the same period in 2019. The PDIC reported that the double-digit growth in the number of fully insured accounts year-on-year mirrored the double-digit ...

STA. MARIA, Ilocos Sur—State-run Land Bank of the Philippines (LANDBANK) opened its first “Agri-Hub” in this province, the LANDBANK Sta. Maria Agri-Hub, on January 15, 2021. The LANDBANK Sta. Maria Agri-Hub will provide financial and technical services to the Bank’s clients, especially to more than 10,000 farmers and fisherfolk in the municipalities of Sta. Maria, Burgos, and San Esteban. LANDBANK’s “Agri-Hubs” are strategically located in the top rice-producing provinces in the country and designed to provide a wide array of services. This includes 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 AR bonds and handling of agrarian-related concerns from landowners, bondholders, and Agrarian Reform Beneficiaries (ARBs). The LANDBANK Sta. Maria Agri-Hub will also offer LANDBANK’s various digital banking platforms, including the digital onboarding sys...

  Laoag City —The Ilocos Norte provincial government through the Ilocos Norte Trade & Investment Office (INvest) now provides support to the micro, small, and medium enterprises that are affected by the COVID-19 pandemic through the new ‘Buy IN’ project. Inspired by the unique “bayanihan” culture of the Filipinos, “Buy Ilocos Norte” or “Buy IN” is the digital platform of the provincial government to regulate and promote potential and existing local businesses in the province by providing them e-marketing strategies and consultations. “ Dahil sa pandemiya ay nag -shift ang mga local entrepreneurs natin from doing their business in a physical store to digital market or e-commerce. Kaya dito sa ‘Buy IN’, tutulungan natin ang mga entrepreneurs sa pag-promote ng kanilang mga produkto hindi lang sa probinsiya kundi pati rin sa labas . We will also offer free marketing consultations to them as to how to position their products, set prices, determine the appropriate packaging, ...

By Dominic B. dela Cruz ( Staff Reporter) Laoag City —The 11 th Sangguniang Panlungsod of Laoag has restarted its probe on the missing PHP85.4 million. The third committee hearing—in aid of legislation—was held June 3, 2020 at the SP Session Hall. Laoag Vice Mayor Vicentito M. Lazo presided over the committee hearing with city government personnel allegedly involved from the cash division Milagros R. Quiape, Karen Mae Salvador-Racadio, Lani T. Ruiz, Antonete Bareng, acting city treasurer Diomedes Gayban and city accountant Edgar Pascual attending. The hearing follows SP Resolution 2020-02, sponsored by Mr. Lazo, which calls for the investigation of the still unresolved issue. The resource persons were put on oath by city legal counsel Josephus Neres. Records show that the city government is missing PHP85.4 million as of December 2016, during the incumbency of former city treasurer Elena Asuncion. Upon learning of the missing amount, Mrs. Asuncion fled to the United Sta...

The Philippine Deposit Insurance Corporation (PDIC) generated PhP240.5 million from the sale of 548 closed banks’ properties via seven public biddings held in Manila and a regional public bidding held in Davao City from January to September 2019. Collectively, the public biddings yielded an aggregate premium of PhP60.2 million over the total minimum disposal price of PhP180.3 million. Proceeds from the sale of closed banks’ properties are added to the pool of funds of these closed banks to help increase the chances of creditors and uninsured depositors to recover their trapped funds. Settlement of creditors’ claims is in accordance with the rules on concurrence and preference of credits. The sale proceeds of PhP240.5 million for 548 properties represented 46.4% of the aggregate disposal price of PhP518.8 million. This is higher by 44.7% compared to the total sale proceeds of PhP166.2 million and 258% more than the 153 properties sold in the public biddings held in the same p...

By Bernardo B. Ver II Contributor Senator Ma. Imelda Josefa “Imee” R. Marcos said Senate sports committee chairperson Christopher Lawrence “Bong” T. Go must get to the bottom of the numerous foul-ups in hosting the Southeast Asian Games (SEAG) that are embarrassing the Filipino people even before the biennial sports event has begun. Ms. Marcos added that she backs Mr. Go’s promise to conduct a probe and that he would be the best person to do so, to prove that the government does not cover up anomalies committed by those close to the President. “If Senator Go will really conduct an investigation, and I hope he does, he would prove that the government is not afraid to go up against President Duterte’s allies,” Ms. Marcos said. House Speaker Alan Peter Cayetano, who chairs the Philippine Southeast Asian Games Organizing Committee ( Phisgoc ), and Philippine Sports Committee chairperson William Ramirez have come under fire for various logistical blunders exposed in mai...

City of Batac —Patients of Mariano Marcos Memorial Hospital and Medical Center (MMMH&MC) here can now transact their hospital bills through cashless payment option as the hospital recently partnered with Land Bank of the Philippines (LBP). In inking the deal, both state-run institutions aim to make transactions with patients faster and more convenient through improving processes relating to payment of hospital bills which usually derails patients. Dr. Maria Lourdes K. Otayza, medical center chief II, lauded this initiative by “putting the hospital’s management on the right track” especially at a time when MMMH&MC is trailing to become a fully-accredited Performance Governance System institution which upholds true and genuine governance. With the cashless payment option for patients, MMMH&MC shall receive payment of hospital bills from patients through valid debits and credit cards (Visa and Mastercard) as well as prepaid cash cards issued by LBP or by...

The Philippine Deposit Insurance Corporation (PDIC) announced that depositors of the closed Rural Bank of Luna (Apayao), Inc. who have not filed their claims for deposit insurance may do so at the PDIC Public Assistance Center, 3rd Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino Street, Makati City until August 17, 2020. Claims may also be filed by mail. When filing deposit insurance claims at the PDIC Public Assistance Center, depositors are required to submit directly to PDIC their original evidence of deposit and present one (1) valid photo-bearing ID with signature of the depositor. It is recommended, however, to bring at least two (2) valid IDs in case of discrepancies in signature. Depositors may also file their claims through mail and enclose their original evidence of deposit and photocopy of one (1) valid photo-bearing ID with signature together with a duly accomplished and notarized Claim Form which can be downloaded from the PDIC website, www.pdic.gov.ph . PDIC...

By Dominic B. dela Cruz Staff reporter Laoag City —In a bid to encourage more Sangguniang Kabataan (SK) involvement and participation in their barangays’, as well as the city’s affairs, Laoag councilor Roger John Fariñas proposed an ordinance that will provide SK kagawads, secretaries and treasurers a monthly PHP1,000 allowance. In his proposal, Mr. Fariñas cited Section 13 of Article II of the 1987 Constitution which emphasizes and recognizes the vital role of the youth in nation building and likewise promotes and protects their physical, moral, spiritual, intellectual and social well-being. Mr. Farinas said the SK is one of the government institutions wherein the youth have an active participation spearheading activities and endeavors of promoting the youth development and empowerment. The city government should therefore recognize the youth’s involvement and participation in the city’s social and development programs and projects. He however, stressed that th...