LANDBANK INCOME IN 2012

Landbank net income rose 12% to P10 billion in 2012
Details Category: Top News Published on Tuesday, 05 February 2013 20:52 Written by Paul Anthony A. Isla / Reporter
THE Land Bank of the Philippines (LandBank) said on Tuesday it posted strong financial performance in 2012 and registered record net income and sustained growth in deposits and assets.

Gilda E. Pico, LandBank president and chief executive, said the bank’s net income jumped by 12 percent to P10.1 billion last year from P9 billion in 2011; return on equity stood at 13.8 percent, and remained above the industry average.

Pico attributed the improvements to the bank’s continued positive overall performance to its steady income from investments and loans.

“We started 2013 strong and well positioned for continued growth taking off from our solid performance in 2012. Our primary focus this year is to continuously grow revenue and manage expenses in order to further drive support to our priority sectors,” Pico said.

LandBank said its total assets grew 7 percent to P681.8 billion from P638.9 billion in 2011. Deposits also expanded by 7 percent to P543.8 billion from P507.3 billion in 2011, while capital grew by 4 percent to P74.6 billion from P71.6 billion in 2011.

The bank’s capital adequacy ratio remained high at 20.2 percent, significantly higher than the regulatory standard of 10 percent.

Pico further reported that LandBank’s non-performing loans coverage stood at 143.6 percent and its non-performing asset coverage ratio at 97.08 percent.

Pico earlier said they welcome their 50th year poised for further growth and expansion, as they seek to provide customers with convenient locations and easier access to banking products and services.  

She also said LandBank aims to open eight branches, the Binondo branch included, to serve its growing clientele and further expand its reach. To date, the lender has 213 branches in Luzon, 53 in the Visayas and 68 in Mindanao, complemented by 1,082 automated teller machines across the country.

We had a 1.1 Billion increased compare to 2011. forty percent of that shall be declare for our profit sharing (Component-3 aka MIP3) which is still nakasalang sa GCG awaiting for the clearance together with our MIP1. if divided to 7000 bank employee, tumatagingting na 60K ang suppose na ating matatanggap na ngayon parang nagbibilang tayo sa wala.

last year 4 Billion ang inambag natin sa kaban ni Pinoy, No 1 tayo sa lahat ng GOCCs/GFIs na covered ng Batas ng GOCC ACT 2011(RA 10149). Ngayon 5 Billion ang ating i ambag sa kaban ni Pinoy and still the No 1 sa lahat pero kung titingnan mo ang mga sweldo ng rank in file, tayo ang may pinakamababa sa lahat.. at ang mga kakarampot na mga benefits natin, naka hold on the line pa. grabe na to mga kapatid na pang aapi sa atin. Sabi nga ni Angelica,

" Ung pasensya ko di basta basta mauubos, Pero ang pera ko konting konti na lang "... (Aruy mali, ubos na din pala.).

hirap na buhay! kailangan rebolusyon!...I mean "green revolution"...magtanim na lang tayo ng gulay sa likod bahay natin para may maulam...that I learned from the Marcoses when I was still a boyscout...HEHEHEHE...

OR PWEDE RING "MAKI BAKA!! MAKI MANOK!!! ang gawing sahog para masarap at masustansya!!! hehehehe peace.. bro..

Kamutangan gud man...!!