Land Bank of the Philippines (Landbank) aims to increase its loan allotment for priority sectors next year to 65% of its loan portfolio, or about P84 billion, from the current 60%.
"We would try to hit 65% next year as part of our commitment to expand our mandate,"said Margarito B. Teves, Landbank president and chief executive officer.
The bank includes among its priority credit customers small farmers and fisherfolk, small- and medium-sized enterprises (SMEs), microenterprises, agribusiness ventures and local government units.
Mr. Teves also reported that January to October lending for the said sectors have already reached P75.2 billion, P10.9 billion higher than the end-December 2003 level of P64.3 billion.
The bank did not give a 10-month loan portfolio figure for 2003. Its lending portfolio as of October was placed at P124.8 billion.
