LBP setting up lending center In Tagum: exec

THE LENDING center of government-run Land Bank of the Philippines (LBP), which will be the second in Davao Region, will have its full operations next year to cater to the residents of the region’s northern side.

Charlotte I. Conde, vice president and head of Davao Lending Center of LBP, said on Wednesdays @ Habi at Kape in Abreeza Mall that the new center would soon be opened in Tagum City, Davao del Norte.

This, she said, will be the second in the region next to its current facility in Davao City.

“We decided to add another facility as we have only 50 people who are handling the Davao Lending Center, which are not enough to cover the entire region,” Conde said.

The new lending center in Tagum will cater to those in Davao del Norte, Compostela Valley and Davao Oriental while the Davao Lending Center would cover those who are in Davao City, Davao del Sur and Davao Occidental.

The facility caters to especially the agricultural producers and micro, small, and medium enterprises (MSMEs).

As of last year, Conde said the loan portfolio of Davao Lending Center reached to P12 billion, which is expected to increase to P14 billion by the end of the year. Part of the figures as of last year was the P450 million loans to small farmers and P300 million loans to MSMEs.

The facility, she said, has so far reached to 780 clients, including small farmers, enterprises and local government units.

“With the new lending center in Tagum, it is projected to have at least a portfolio of P500 million on its first year of operations,” Conde said.

LBP cited in its website that the bank “is a government financial institution that strikes a balance in fulfilling its social mandate of promoting countryside development while remaining financially viable.”

“Over the years, Land Bank has successfully managed this tough balancing act as evidenced by the continued expansion of its loan portfolio in favor of its priority sectors: the farmers and fisherfolk, small and medium enterprises and microenterprises, livelihood loans and agribusiness, agri-infrastructure and other agri-and-environment-related projects, socialized housing, schools and hospitals,” LBP said. (By Kristianne M. Fusilero)

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