History
The Land Bank of the Philippines (LANDBANK) is a government financial institution that strikes a balance in fulfilling its social mandate of promoting countryside development while remaining financial…History
The Land Bank of the Philippines (LANDBANK) is a government financial institution that strikes a balance in fulfilling its social mandate of promoting countryside development while remaining financial…Republic Act 3844 (Agricultural Land Reform Code)
Created LANDBANK to finance the acquisition and distribution of agricultural estates for division and resale to small landholders, as well as the purchase of landholdings by agricultural lessees.
Authorized capitalization of PhP1.5 billion. Initial capital of PhP200 million.
Members of the Board of Trustees
- Chairman - LBP President and CEO
- One member elected by the holder of preferred shares
- Four members, including theHead of the Land Authority (now Department of Agrarian Reform)
Tax exempt on all operations, holdings, equipment, property, income and earnings.
Exempted from cash or stock dividend payments to the National Government. The Agricultural Credit Administration (ACA) is responsible for extending credit assistance to farmers' cooperatives and directly to small farmers
