LandBank sees rise in online investors

By Anna Leah Gonzales

April 2, 2024, 4:02 pm

MANILA – State-run Land Bank of the Philippines (LandBank) said more Filipino retail investors have utilized digital investment platforms to invest in retail treasury bonds (RTBs).

In a statement on Tuesday, LandBank said it sold significantly more online placements in the recently concluded Retail Treasury Bonds Tranche 30 (RTB-30) issuance of the national government.

The bank said it sold PHP438 million worth of RTB-30 investments through its online channels, which is almost three-fold of what it sold in the last RTB-29 offering in 2023.

“The significant increase in online placements for RTB-30 reflects the growing confidence of retail investors in using our digital solutions. LandBank will remain committed to providing Filipinos with secure and convenient ways to participate in the financial market and contribute to nation-building,” LandBank president and chief executive officer Lynette Ortiz said.

These were sold through the LandBank mobile banking app, Overseas Filipino Bank mobile banking app, LandBank's Link.BizPortal, and the online ordering facility of the Bureau of the Treasury.

The national government raised a total of PHP585 billion for the RTB-30 issuance making it the largest domestic fundraising issue to date.

The proceeds of the issuance will be used for enhancing the country’s infrastructure, strengthening the agriculture and other essential sectors, and improving the healthcare system, among other national development priorities. (PNA)