STOCK / FILES
MANILA, Philippines – After downloading P50 billion to the Maharlika Funding Fund (MIF), the Land Financial institution of the Philippines stated it stays financially steady and compliant with the laws of the Bangko Sentral ng Pilipinas (BSP).
In a press release Friday, Landbank stated it has constantly met and even exceeded the BSP’s minimal required Capital Adequacy Ratio (CAR), which gauges a financial institution’s monetary well being.
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The state-run financial institution stated its CAR stage as of end-November 2024 is at 16.24 p.c, which is greater than the ten p.c regulatory threshold.
“Following the P50-billion seed capital allocation to the MIF in September 2023, Landbank’s CAR stood at 16.2 p.c, remaining comfortably above regulatory necessities and reflecting the Financial institution’s dedication to monetary stability,” it added.
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Landbank additionally clarified that in search of a regulatory aid from the BSP is a proactive measure to take care of the financial institution’s resilience.
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“Landbank has constantly adhered to prudent monetary administration practices, successfully using its sources to advertise agriculture, fisheries and rural growth, and empower key growth sectors,” it stated.
Furthermore, the state-run monetary establishment has contributed a record-high P32.12 billion in money dividends to the nationwide authorities, which can also be the best amongst government-owned and managed companies.
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