Landbank remits record-high P33-B cash dividend to gov’t

Land Bank of the Philippines has declared a record-high cash dividend of P33.53 billion to the national government, the biggest in its history and the largest remittance among state-owned corporations for the second straight year.

Landbank said this came on the back of a strong financial performance in 2024 and the sustained momentum seen early this year, with officials saying the funds would help finance the Marcos administration’s key infrastructure and socio-economic programs.

“Landbank’s record-breaking dividend reflects the institution’s solid fundamentals and strategic financial management,” Landbank chair and Finance Secretary Ralph Recto said in a statement.

In 2024, the state lender already posted the highest dividend remittance among all government-owned and -controlled corporations with P32.12 billion.

In the first quarter, Landbank reported an 11 percent year-on-year increase in net income to P13.29 billion, which was 32 percent above its target for the period.

Total assets also rose by 5 percent to P3.426 trillion, while customer deposits reached P3.02 trillion.

The bank’s gross loan portfolio also grew by 8 percent to P1.58 trillion, with P844.61 billion channeled to agriculture, fisheries and rural development projects.

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Landbank also rose to fifth place among Philippine banks in Forbes’ 2025 list of the World’s Best Banks, improving from eighth position last year.

The bank was also recognized for the second consecutive year among the “World’s Best Employers,” ranking fourth in the Philippines in 2024 and the only government institution to make the cut.

It said the recognition reflected growing public trust in its mission-driven approach to banking and reinforces its commitment to inclusive finance and sustainable development.