Land Bank of the Philippines, also known as LANDBANK or by its initials, LBP, is a bank in the Philippines owned by the Philippine government with a special focus on serving the needs of farmers and fishermen. While it provides the services of a universal bank, it is officially classified as a "specialized government bank" with a universal banking license.
LANDBANK is the fourth largest bank in the Philippines in terms of assets and is the largest government-owned bank. It is also one of the biggest government-owned and/or controlled corporations in the Philippines.
Unlike most Philippine banks, LANDBANK has an extensive rural branch network. It services many rural sector clients in areas where banking is either limited to rural banks or is non-existent.
LANDBANK became the financial intermediary for the Comprehensive Agrarian Reform Program (CARP) in 1988. It was also in that year that UnionBank started a gradual privitization. The Aboitiz Group of Companies acquired LANDBANK's 40% share of UnionBank then which it continues to own. LANDBANK also became the third member of Expressnet, an ATM consortium, in December of 1991.
On February 23, 1995, LANDBANK's charter was once again amended. Its authorized capital was increased to nine billion pesos and it became an official government depository. The number of members of the board of trustees was also increased to nine. On August 25, 1998, LANDBANK's authorized capital was once again increased to 25 billion pesos.