The recent merger of the LANDBANK Leasing and Finance Corporation (LLFC) and UCPB Leasing and Finance Corporation (ULFC) is set to bolster financing options for enterprise expansion across the Philippines.
The development comes after President Ferdinand R. Marcos Jr. signed Executive Order No. 65 on August 6, 2024, authorizing the consolidation of the two entities under LLFC.
Both LLFC and ULFC are subsidiaries of the Land Bank of the Philippines (LANDBANK), with the latter becoming part of LANDBANK’s portfolio following the merger with United Coconut Planters Bank (UCPB) in 2022.
The integration of these leasing and finance corporations is anticipated to enhance LANDBANK’s market power and service reach, aligning with the government’s broader agenda of streamlining operations and reducing redundant functions.
“Given the similar product and service offerings, this synergy will enhance LANDBANK’s leasing and financing market power and reach. The move is also consistent with the national government’s streamlining to address duplication of functions, and organizational right-sizing to reduce the demand on government resources such as personnel and infrastructure, among others,” said LANDBANK President and CEO Lynette V. Ortiz.
This merger is expected to significantly increase LLFC’s capital base and operational capacity, enabling it to better support the national government’s development initiatives.
The state-run bank has assured clients of both LLFC and ULFC that the transition will be seamless, with customer service remaining uninterrupted.
LANDBANK, as the largest development financial institution in the Philippines, continues to play a critical role in promoting financial inclusion, digital transformation, and sustainable national development.
With a presence in all 82 provinces, LANDBANK remains committed to providing accessible and responsive financial solutions to empower Filipinos nationwide.
