Senate extends Land Bank corporate life to another 50 years

The Senate Bill and the House Bill on the extension of LandBank's corporate life will be harmonized during the Bicameral Conference to come up with a single bill for approval of President Noy for it to become a law.

Hereunder are the press release on recently approved Senate Bill and the history of House Bill 5461-House of Representatives:


http://www.senate.gov.ph/press_release/2012/1217_prib5.asp

Press Release
December 17, 2012

Senate extends Land Bank corporate life to another 50 years


The Senate today passed on third and final reading a bill seeking to extend the corporate life of the Land Bank of the Philippines for another 50 years.

The bill was approved with 19 affirmative votes, zero negative vote and zero abstention.

"The Land Bank of the Philippines, which was created under Republic Act No. 3844, was granted corporate life of 50 years from its approval until Aug. 8, 2013," Sen. Serge Osmeña, chair of the committee on Banks, Financial Institutions and Currencies, said in his sponsorship speech.

He said Senate Bill No. 2944, otherwise known as the agricultural land reform code, seeks to extend the life of Land Bank for another 50 years after its life expires next year.

Osmeña said the Land Bank currently ranks fourth among the top five commercial banks in the country in terms of deposits, assets, loans and capital.

He said Landbank has been a major contributor in the national government's fiscal consolidation efforts through its contribution of cash dividends in the amount of P17.843 billion, Return on Equity (ROE) at 14 percent and its Capital Adequacy Ratio is at 20 percent.

"Land Bank has total deposits of P490 billion, assets amounting to P630 billion, loans of P247 billion and P73 billion in capital," Osmeña said.

The bill was approved on second reading without amendments last December 10.

(OLIVE CAUNAN)

HISTORY OF HB 5461-HOUSE OF REPRESENTATIVES VERSION OF THE BILL EXTENDING LANDBANK's CORPORATE LIFE

buti pa ang LANDBANK sigurado na ang extension for another 50 years pero ang mga rank and file na katulad ko ay palaging problemado kung paano maeextend ng for another year ang buhay

nasa lifestyle lang yan yong kilala ko mga laborer sa north harbor masaya sa buhay kahit minsan wala trabaho pag wala barko...eh yong mga service workers sa landbank wala naman ako nakikitang ganyan katindi ang problema....baguhin mo buhay mo tol at sigurado makakaraos ka...

galing naman ni msangola.... mayaman na cguro to bago pa man nakapasok sa landbank... anyways Mike O. wait na lang tayo malay mo may dumating na pamasko or pang new year.... kung wala man ok pa rin yun basta kasama natin pamilya natin ^_^

Yan nga ang problema na extend na ang landbank at tinaguriang ang batas na ito ay agricultural land reform code ngunit dito sa ibaba ay unti-unti na nilang winala ang agrarian functions natin.nawala na iyong puso ng dating landbank .gusto nila commercial bank functions na lang dahil mas madali iyon at malaki ang income to justify their fat salaries.

fat salaries for top exec and required promotions = justified

promotions = refer to the ever delayed parameters. and still on the process..

Tama.Endless parameters para sa rank and file ngunit hindi sa top mgt. madali naman gawan ng paraan.gaya ng pag-reallign kuno para mabigyan ng malalaking position ang malapit sa kanila.

@ bro. mario sulit: together let us campaign next year for a fair promotion for r&f...

masarap pa matulog he he he he...

tama ka msangola. basta huwag mo lang kalilimutan gumising

yeah Mike i"m awake...its just another day of life just enjoy it and have some fun...we are so blessed as a landbanker be proud wag masyado ma reklamo..he he he Peace po.hapi new year..