MANILA -- Demand among Filipino retail investors to utilize digital investment platforms is growing, as the Land Bank of the Philippines (LANDBANK) sold significantly more online placements in the recently concluded Retail Treasury Bonds Tranche 30 (RTB-30) issuance of the National Government.
The Bank sold close to half a billion or P438 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.
LANDBANK’s online sales represent two-thirds of the total RTB-30 online sales worth P664 million.
“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,” said LANDBANK President and CEO Lynette V. Ortiz.
The RTB-30 digital placements worth P438 million were sold through the LANDBANK Mobile Banking App and the mobile banking app of the Overseas Filipino Bank (OFBank)—the official digital bank of the Philippine government and a subsidiary of LANDBANK.
The RTB-30 was also sold through the LANDBANK Link.BizPortal, a web-based payment channel, via the Online Ordering Facility of the Bureau of the Treasury (BTr).
The National Government raised a total of P585 billion for the RTB-30 issuance making it the largest domestic fund-raising issue to date. As Lead Issue Manager, LANDBANK sold and contributed almost 30% of total sales.
RTB-30 offers a very attractive investment return with a coupon rate of 6.25% per annum, with a minimum placement of P5,000. Interest payments will be paid quarterly within a five-year term.
LANDBANK is one of the Joint Lead Issue Managers of RTB-30, designed to raise funds in support of the National Government’s sustainable and inclusive development agenda.
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.
ABOUT LANDBANK
LANDBANK is the largest development financial institution in the country promoting financial inclusion, digital transformation and sustainable development to benefit Filipinos. It is committed to supporting the National Government’s fundraising initiatives to boost public resources for the country’s development plans and programs. (LANDBANK)
