Landbank seals remittance tie-up with Italian bank

MANILA, Philippines - The Land Bank of the Philippines is intensifying its overseas operations by entering into new partnerships to capture more remittances, according to the bank top official.

Landbank president and CEO Gilda E. Pico said they recently sealed a remittance business partnership with Banca Popolare di Sondrio (BPS) to better serve and respond to the fund transfer needs of overseas Filipinos (OFs) in Italy.

The partnership, Pico said, would allow OFs and other remitters to send funds directly to the Philippines through the more than 200 branches of BPS.

The signing of the contract was held at the BPS head office in Sondrio, Italy with Pico, Landbank executive vice president for institutional banking Cecilia C. Borromeo, BPS international division head and deputy general manager Mario Erba, and Maurizio Zucchi of the BPS international division.

“Landbank continues to strengthen its overseas network through strategic partnerships with remittance partners. We are thus pleased to tie up with Banca Popolare di Sondrio as this will allow us to better reach out and address the needs of overseas Filipinos in Italy,” Pico said.

In his speech during the ceremony, Philippine Ambassador to Italy Virgilio Reyes Jr. lauded both Landbank and BPS for this agreement that helps strengthen existing links of the diaspora of the Filipino community with their hometowns and families.

Reyes said this new business endeavor is a reflection of both bank’s understanding and caring for their clientele.

At present, Landbank has almost 40 remittance partners in Asia Pacific, Middle East, Europe, United States, Africa, Australia and Oceania.