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2017 Annual Report Expanding Financial Inclusion in the Countryside ANNUAL REPORT 2017 P62.5B Loan releases to small farmers and fishers P84.8B Outstanding loans to agri/aqua businesses P89.8B Outstanding loans to MSMEs P104.9B Outstanding loans to utilities P38.9B Loans to transport sector Reaching Out. LANDBANK is committed to extend our services to more people, especially in the countryside. We believe that by promoting accessible and inclusive banking through technology and innovative banking products and services, we are helping our country achieve sustainable development and our people, improve their quality of life. Expanding Financial Inclusion in the Countryside ANNUAL REPORT 2017 Table of Contents About the Cover 1 Financial Highlights Aligned with LANDBANK’s 3 Message from the President of the Philippines mission of helping in the country’s 7 Chairman’s Message growth, our cover features a 8 President’s Message vibrant plant to symbolize the 10 Special Feature: Practicing Good Measures consistent efforts of the Bank to bring opportunities to its A Home Away from Home diverse clients and partners, 12 Operational Highlights: Pursuit of Mandate most especially those in the 34 Special Feature: More Convenient Payment countryside. The leaves represent via the Internet hope and depict the Bank’s 36 Operational Highlights: Customer Service healthy relationship with its 50 Special Feature: All in the Family stakeholders, a unique bond built 52 Operational Highlights: Institutional Viability on a strong foundation of trust 98 LANDBANK Foundation and Subsidiaries and respect. The use of the plant 108 LANDBANK Products and Services as a focal point speaks of the 118 Board of Directors Bank’s commitment to nurture 120 Management Team the potential of every Filipino by 121 Senior Officers making available to him the vital tools needed for socio-economic empowerment and self-reliance. 126 Heads of Sectors, Groups and Departments 130 Independent Auditor’s Report It is with hope, trust, and responsive action that LANDBANK is 133 Financial Statements held in an ideal position of Expanding Financial Inclusion in the 139 Notes to Financial Statements Countryside for 2017 and beyond. Vision By 2018, LANDBANK will be the top universal bank that promotes inclusive growth and improves the quality of life especially in the countryside through the delivery of innovative financial and other services in all provinces, cities and municipalities. Mission To Our Clients and Publics: We will use the best technology solutions to deliver responsive financial and support services to our clients, while promoting sustainable development, and environmental protection. To Our Employees: We will develop and nurture talents that will exemplify the highest standards of ethics and excellence consistent with the best in the world. ANNUAL REPORT 2017 LAND BANK OF THE PHILIPPINES Financial Highlights (GROUP) LAND BANK OF THE PHILIPPINES LAND BANK OF THE PHILIPPINES TOTALTOTAL ASSETS ASSETS TOTALTOTAL DEPOSITS DEPOSITS (In (InP PBillions) Billions) (In (InP Billions) P Billions) 1,800.00 1,627.1 1,600.00 1,425.2 1,627.1 1,425.2 1,600.00 1,400.00 1,405.31,405.3 1,235.61,235.6 1,400.00 1,200.00 1,205.81,205.8 1,045.91,045.9 1,200.00 1,058.6 1,058.6 1,000.00 912.6912.6 1,000.00 849.3849.3 800.00 703.8703.8 800.00 600.00 600.00 400.00 400.00 200.00 200.00 - - 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 LAND BANK OF THE PHILIPPINES LAND BANK OF THE PHILIPPINES CAPITALCAPITAL NETNET INCOME INCOME (In P Billions) (In P Billions) (In P Billions) (In P Billions) 140.00 18.0 15.6 116.6 15.6 116.6 16.0 14.4 120.00 14.0 14.0 14.4 14.0 12.6 95.895.8 12.6 100.00 88.7 11.8 11.8 85.0 88.7 12.0 82.1 82.1 85.0 80.00 10.0 60.00 8.0 6.0 40.00 4.0 20.00 2.0 - - 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 LAND BANK OF THE PHILIPPINES LAND BANK OF THE PHILIPPINES TOTALTOTAL INVESTMENTS INVESTMENTS GROSSGROSS LOANS LOANS (In P Billions) ((InIn P PBillions) Billions) (In P Billions) 600.00 568.0568.0 800.00 674.5 700.00 674.5 500.00 453.1453.1 600.00 537.1 537.1 519.2519.2 400.00 500.00 459.6459.6 302.0 302.0 285.2 285.2 300.00 400.00 316.6 316.6 220.7 223.1 300.00 200.00 200.00 100.00 100.00 - - 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 LAND BANK OF THE PHILIPPINES 1 Financial Summary (In Php M) Group1 Parent Bank (Solo) Minimum Required Data 2017 2016 2017 2016 As restated As restated Profitability Total Net Interest Income 38,283.68 31,374.07 38,031.16 31,118.03 Total Non Interest Income 6,556.12 6,139.50 6,243.10 5,983.41 Total Non Interest Expenses 27,671.60 22,544.86 27,339.65 22,512.54 Pre-provision Profit 17,168.20 14,968.71 16,934.61 14,588.90 Provision for Credit/Impairement Losses 1,546.74 612.83 1,429.24 483.45 Net Income 15,621.46 14,355.88 15,505.37 14,105.45 Selected Balance Sheet Data Liquid Assets 920,685.20 859,124.20 919,489.51 858,122.89 Gross Loans 674,516.92 519,242.34 674,360.20 519,441.38 Total Assets 1,627,130.49 1,405,272.33 1,623,837.51 1,402,725.62 Deposits 1,425,219.51 1,235,625.21 1,425,473.36 1,235,977.34 Total Equity 116,613.69 95,792.16 114,023.93 93,185.35 Selected Ratios Return on Equity 14.71% 15.56% 15.90% 15.97% Return on Assets 1.03% 1.10% 1.07% 1.08% CET 1 capital ratio 10.93% 10.54% 10.90% 10.36% Tier 1 capital ratio 10.93% 10.54% 10.90% 10.36% Capital Adequacy Ratio 11.77% 11.40% 11.74% 11.23% Per common share data Net Income per share: Basic Diluted Book value Others Cash dividends declared - 1,960 - Headcount2 7,985 7,834 Officers 1,013 1,009 Staff 6,972 6,825 1 Consolidated Amount of Parent and Subsidiaries 2 Figures in absolute value LANDBANK GROSS LOAN PORTFOLIO (In Php B) 2017 Sectors Amount (P B) % Priority Sectors I. Mandated Sector - Small farmers including agrarian reform beneficiaries and their associations 45.2 7.5 - Small fisherfolk and their associations 0.1 0.01 Sub-Total 45.3 7.5 II. Support for Agriculture and Fisheries - Agri-business 82.6 13.7 - Aqua-business 2.2 0.4 - Agri-aqua related projects of Local Government Units and Government-Owned and -Controlled Corporations 53.3 8.9 Sub-Total 138.1 23.0 III. Support for National Government Priority Programs (including PPP projects) - Micro, small and medium enterprises 89.8 14.9 - Communications 31.3 5.2 - Transportation 38.9 6.5 - Housing (Socialized, low-cost and medium-cost) 48.1 8.0 - Education 6.1 1.0 - Health Care 14.2 2.4 - Environment-related projects 17.3 2.9 - Tourism 8.8 1.5 - Utilities 104.9 17.5 - Others 21.3 3.5 Sub-Total 380.7 63.4 TOTAL PRIORITY SECTOR LOANS 564.1 93.9 Local Government Units - Others 10.6 1.7 Government Owned and Controlled Corporations - Others - - Others 26.3 4.4 TOTAL OTHER SECTOR LOANS 36.9 6.1 LOANS TO ALL SECTORS * 601.0 100.0 Less: Unsecured Subordinated Debt Facility on Rural Banks 0.3 Add: Domestic Bills Purchased Lines 0.5 REGULAR LOAN PORTFOLIO 601.2 Add: Treasury Loans 73.2 GROSS LOAN PORTFOLIO 674.4 * Excludes Interbank Term Loans Receivable (Foreign Regular & FCDU/EFCDU), Loans and Receivables Arising from Repurchase Agreements, Certificates of Assignment/Participation with Recourse/Securities Lending and Borrowing Transactions, and Domestic Bills Purchased Lines; Includes Unsecured Subordinated Debt Facility on Rural Banks Message from the President of the Philippines My warmest greetings to the Land Bank of the Philippines (LANDBANK) as it publishes its 2017 Annual Report. Over the past year, LANDBANK’s relentless efforts in coming up with new, innovative and responsive lending programs and interventions have facilitated the development of communities and improved service accessibility, especially for hard-to-reach sectors and those located in the countryside. Its activities have not only allowed it to maintain its standing as one of the country’s largest financial institutions but, more importantly, enabled it to fulfill its mandate to serve its priority sectors. May this report enlighten the clients, stakeholders and the rest of our people about the bank’s operations, achievements and accomplishments in 2017. It is my hope that the men and women of LANDBANK will continue pursuing its goal of becoming the top universal bank in the country that promotes inclusive growth and improves the quality of life of its clients and depositors. With your help, we can ensure the delivery of innovative financial and other services in all provinces, cities and municipalities in the Philippines. Congratulations and I wish you the best in your endeavors. RODRIGO ROA DUTERTE MANILA September 2018 LAND BANK OF THE PHILIPPINES 3 ith our social mandate to foster the country’s development, Wthe Land Bank of the Philippines (LANDBANK) focuses on promoting inclusive growth and helping uplift the Filipinos’ quality of life.
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