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LandBank sees rise in online investors
MANILA – State-run Land Bank of the Philippines (LandBank) said more Filipino retail investors have utilized digital investment platforms to invest in retail treasury bonds (RTBs).
In a statement on Tuesday, LandBank said it sold significantly more online placements in the recently concluded Retail Treasury Bonds Tranche 30 (RTB-30) issuance of the national government.
The bank said it sold PHP438 million worth of RTB-30 investments through its online channels, which is almost three-fold of what it sold in the last RTB-29 offering in 2023.
“The significant increase in online placements for RTB-30 reflects the growing confidence of retail investors in using our digital solutions. LandBank will remain committed to providing Filipinos with secure and convenient ways to participate in the financial market and contribute to nation-building,” LandBank president and chief executive officer Lynette Ortiz said.
These were sold through the LandBank mobile banking app, Overseas Filipino Bank mobile banking app, LandBank's Link.BizPortal, and the online ordering facility of the Bureau of the Treasury.
The national government raised a total of PHP585 billion for the RTB-30 issuance making it the largest domestic fundraising issue to date.
The proceeds of the issuance will be used for enhancing the country’s infrastructure, strengthening the agriculture and other essential sectors, and improving the healthcare system, among other national development priorities. (PNA)
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Validation of El Niño crop damage to determine gov't aid: DA
DUMAGUETE CITY – A joint validation of the crop damage in Negros Oriental began Tuesday to determine the extent of losses in areas that are now reeling from the effects of the drought triggered by the El Niño phenomenon and to serve as basis for government interventions.
The validation team from the provincial and regional offices of the Department of Agriculture (DA) and the city government of Bayawan City visited the farms where damage to rice, corn, and high-value crops were reported, said Dana Mae Baybay-Sampilo, the rice program manager of the DA-Provincial Agriculture Technology Coordinating Office (DA-PATCO) in Negros Oriental.
"The team will inspect and verify partially and totally damaged crops and farms to establish a basis for the DA's assistance through its Quick Response Fund and other interventions, such as the distribution of seeds of drought-resistant crop varieties," Sampilo said.
The report will be sent to the Department of Labor and Employment and the Department of Social Welfare and Development for assistance regarding the El Niño effect, she said.
On Wednesday, the team will visit Mabinay town for the same activity. Bayawan City and Mabinay town are the first to be validated as the local government units (LGUs) have submitted complete data to the DA-PATCO.
As of March 26, more than PHP80 million in crop damage was reported in Negros Oriental, with 3,087 farmers and fisherfolk affected by the El Niño in at least 11 LGUs.
The numbers are expected to rise in the coming weeks once other LGUs submit their respective losses and damage reports. (PNA)
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