Land Bank of the Philippines (LANDBANK) President and CEO Cecilia C. Borromeo was recognized as a distinguished alumnus awardee for corporate governance in banking and finance by the University of the Philippines Alumni Association (UPAA).
Borromeo received the recognition for her career achievements from UP Alumni Regent and UPAA President Reynaldo Laserna, UP Vice President for Public Affairs Elena Pernia, and UPAA Board Member Romeo Nones on 19 May 2022 during the UPAA Distinguished Alumni Awards celebration.
The annual award ceremony honors graduates of the State University for their outstanding achievements in their respective fields of specialization and service.
Borromeo completed her Bachelor of Science degree in Agribusiness from the University of the Philippines Los Baños.
She holds the distinction of being the only banker to ever hold the presidency of two government financial institutions—LANDBANK and the Development Bank of the Philippines (DBP).
Since being appointed as President and CEO of LANDBANK in March 2019, Borromeo has steered the Bank’s intensified support to small farmers and fishers, further solidifying the Bank’s position as the biggest lender to the agriculture sector.
LANDBANK’s reach to small farmers and fishers expanded by 270% from 889,669 in June 2019 to 3.29 million as of April 2022. Total agri loan portfolio likewise consistently grew from P236.31 billion in 2019 to P247.85 billion in 2021.
Borromeo spearheaded the expansion of LANDBANK’s development thrust to serve other key sectors in support of the Government’s financial inclusion drive, while becoming the country’s second largest bank in terms of assets and deposits.
LANDBANK serves as the delivery arm for cash grants for 10 million beneficiaries of the Conditional Cash Transfer and Unconditional Cash Transfer Programs of the DSWD. It also served as conduit for various amelioration especially under the Bayanihan-related programs during the pandemic.
Under Borromeo’s leadership, LANDBANK has maintained its dominance as the biggest development partner of the LGU sector towards inclusive and sustainable local development, with all LGUs nationwide maintaining deposit accounts with the state-run Bank.
LANDBANK is providing unbanked Philippine Identification System (PhilSys) registrants with transaction accounts. As of April 2022, the Bank has onboarded almost 8 million previously unbanked Filipinos.
Borromeo has also led LANDBANK’s digitalization geared towards providing safe, accessible and convenient banking service to meet the growing needs of customers. In 2021, the Bank’s major digital platforms recorded a surge in utilization equivalent to a 19% growth in transactions facilitated and 46% in value.
It was also during Borromeo’s term that the Overseas Filipino Bank (OFBank)—a LANDBANK subsidiary—was established as a digital-only and branchless bank – the first Digital Bank in the Philippines. It caters to Overseas Filipino Workers (OFWs), overseas Filipinos, and their beneficiaries.
Borromeo’s banking career spans 30 years in agricultural and development lending, treasury and investment banking, public sector lending, corporate banking, global banking, wholesale banking and lending program management.