Landbank transfers PHP50B to Maharlika Fund, CAR at 16.24%

The Land Bank of the Philippines (Landbank) confirmed its continued financial stability after transferring PHP50 billion to the Maharlika Investment Fund on Friday.

Despite this transfer, Landbank's Capital Adequacy Ratio (CAR), a measure of financial health, remains at 16.24 percent as of end-November 2024, exceeding the BSP's minimum requirement of 10 percent.

The bank emphasized its commitment to prudent financial management and contributing to key development sectors such as agriculture, fisheries, and rural development.

Landbank also highlighted that it has paid a record-high PHP32.12 billion in cash dividends to the national government, surpassing other government-owned corporations.

According to Landbank's statement, seeking regulatory relief from the BSP is a proactive measure to maintain resilience and does not indicate an urgent need for additional capital.

The state-run bank remains financially robust with no immediate concerns despite infusing a significant sum into the Maharlika Investment Corporation (MIC), which began operations in November 2023.