Landbank named top GS dealer for 2013

MANILA, Philippines - State-run Land Bank of the Philippines has been named Best Performing Government Securities Eligible Dealer (GSED) for 2013 by the Bureau of the Treasury (BTr) .

Landbank was recognized for its contributions as a securities dealer in capital development and to the money market through involvement in the primary and secondary market of Treasury bills and bonds.

Also a criterion for the best performing GSED award is significant market share or volume turnover for both primary and secondary markets.

“We welcome this recognition as 2013 also marks our 50th year, which we consider to be another banner year for us,” Landbank president and CEO Gilda E. Pico said.

“We will continually support the BTr’s efforts and programs to strengthen and promote the growth of the local bond market,” she said.

Also recognized among the top 10 GSEDs were HSBC, Deustche, Metrobank, First Metro Investments Corp., BPI, BDO, Security Bank, Citibank, PNB and DBP.

Recently, Landbank offered rehabilitation credit programs to victims of Super Typhoon Yolanda. Eligible borrowers include LGUs, home buyers, small and medium enterprises (SMEs), cooperatives and NGOs, and countryside financial institutions (CFIs).

Coops and NGOs may avail of either livelihood financing to augment their credit fund for on-lending to small farmers and fisherfolk (SFFs) or MSME members and sub-borrowers or home lending to provide them with additional credit fund for the housing loan requirements of their members/borrowers.