Landbank posts P3 trillion digital transactions

MANILA, Philippines — The state-run Land Bank of the Philippines reported a 36 percent year-on-year increase in value of digital transactions from January to September, reflecting sustained growth in online banking activity across its various electronic platforms. 

Landbank’s total digital transactions were valued at P3.14 trillion from more than 550 million processed transactions, reflecting a strong shift among Filipinos toward faster and more convenient digital financial solutions.

“Innovation, at its heart, must make people’s lives easier, more connected, more secure and more inclusive,” Landbank executive vice president Leila Martin said. “We modernized our systems not just to compete, but to serve our people better.” 

The bank’s mobile banking application accounted for the bulk of transactions, logging 492.44 million in the nine-month period. These were valued at P418.4 billion, marking a 38 percent increase in transaction value and a 26 percent surge in volume from the same period last year.

Through Landbank’s online retail banking channel, iAccess recorded 2.6 million transactions valued at P11.9 billion, while the web-based payment platform Link.BizPortal processed 6.76 million transactions totalling P12.3 billion.

“Landbank remains steadfast in leveraging digital innovation to meet the evolving needs of customers and strengthen financial inclusion, in line with its role as the country’s leading digital government and development bank,” the bank said.

Meanwhile, institutional clients fueled strong growth on the weAccess platform, which processed 32.85 million transactions worth P1.29 trillion. 

The surge was largely driven by automated teller machine payroll transactions, totaling 26.95 million and valued at P266.71 billion, highlighting weAccess as a vital payroll solution for public and private sector clients.

Further, government disbursements through the electronic modified disbursement system totalled P1.14 trillion across 3.63 million transactions, marking a 32 percent increase in volume and a 40 percent rise in value compared to the January to September of last year.

Under the LANDBANKasama Program, the bank’s network of agent banking partners processed 2.38 million transactions worth P11.68 billion, further advancing financial inclusion in geographically isolated and disadvantaged areas nationwide.

For the bank’s alternative tax payment system, it processed 554,151 transactions valued at P132.93 billion.