Fitch upgrades LANDBANK's rating, highlights stronger finances

Fitch Ratings has upgraded the Viability Rating (VR) of the Land Bank of the Philippines (LANDBANK) from 'bb' to 'bb+', indicating enhanced financial strength.

The Long-Term Issuer Default Rating (IDR) remains at 'BBB' with a Stable outlook, reflecting the bank's systemic importance and full state ownership.

This upgrade underscores LANDBANK's robust capital buffers and improved profitability prospects wherein, as of end-2024, the bank's Common Equity Tier-1 (CET1) ratio stood at 15.1%, surpassing the Bangko Sentral ng Pilipinas' minimum requirement of 10.25%, thereby supporting its lending capacity.

President and CEO Lynette V. Ortiz stated that LANDBANK is well-positioned to enhance financial performance while deepening its commitment to agriculture and other key economic sectors that drive national growth.