Landbank expands presence in Mindanao

MANILA, Philippines — State-run Land Bank of the Philippines opened its first offsite ATM and cash deposit machine (CDM) center in Mindanao as it seeks to further strengthen its presence in unbanked and underserved municipalities.

The ATM and CDM center established in Damulog, Bukidnon will serve the banking needs of communities in the southern part of Bukidnon and North Cotabato, as well as other municipalities in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).

The center was established in partnership with the local government of Damulog which constructed the building that houses the terminals and provided for the free use of space and utilities for the next 20 years.

Landbank has a total of 2,316 ATMs and 168 CDMs nationwide.

In recent years, the bank has been improving its services in remote areas by expanding its branch and ATM network and offering innovative services to reach more clients in underserved communities.

Earlier this month, the bank announced it would open 23 new branches and branch-lite units and deploy an additional 190 ATMs this year.

This will grow Landbank’s network to 500 branch and branch-lite units nationwide and its ATM network by over 2,500 by yearend.

Landbank president and CEO Cecilia Borromeo said that even with the increased use of its e-banking channels, its branch network and other physical touch points remain equally important especially in the countryside.