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Eastern Visayas tops LandBank performance

Sun Star – Thu, May 19, 2011

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EASTERN Visayas maintains a P10-billion deposit at the LandBank of the Philippines, doubling the P4.6-billion loan released by the bank last year, making the region a “fund provider” for financing in other areas of the country.

The region ranks first in terms of LandBank performance in the Visayas and third in the whole country.

LandBank assistant vice president for Eastern Visayas Alex A. Lorayes said the government and the private sector have an equal share of the bank’s deposit portfolio.

“The P10-billion deposits have been recorded since December 2010 until April 2011. Considering that deposits are way up than the loan disbursement, that means we are sending funds to other regions for government-financing programs,” Lorayes said in an interview.