MANILA, Philippines — Demand to invest via digital platforms is seen picking up further, especially for government securities, state-run Land Bank of the Philippines said.
In a statement, Landbank said it is seeing a rise in online investors as more Filipinos take advantage of digital investment platforms.
The bank said this was evident in the recent offering of retail Treasury bonds (RTBs) where it sold more via online placements.
Data showed Landbank sold almost half a billion or P438 million in RTB investments through its online channels last February.
This was a significant threefold increase from the roughly P140 million sold in the previous offering last year.
The investments were sold through its mobile banking application and that of the Overseas Filipino Bank.
Similarly, Landbank’s online sales represent two-thirds of the total RTB online sales worth P664 million.
“The significant increase in online placements for RTB reflects the growing confidence of retail investors in using our digital solutions,” Landbank president and CEO Lynette Ortiz said.
The government raised P585 billion for the issuance, making it the largest domestic fund-raising issue to date.
As lead issue manager, Landbank sold and contributed almost 30 percent to total sales.
The RTB-30 had a coupon rate of 6.25 percent per annum with interest payments to be paid quarterly within a five-year term.
The proceeds of the issuance will be used for enhancing the country’s infrastructure, strengthening the agriculture and other essential sectors and improving the healthcare system.