LBP meaning in Banking ?

Answer:

What is Land Bank of The Philippines mean?

Land Bank of the Philippines (LBP), often referred to as LandBank, is a universal bank in the Philippines owned by the Philippine government with a special focus on serving the needs of farmers and fishermen. While it provides the services of a universal bank, it is officially classified as a "specialized government bank" with a universal banking license.

LandBank is the second largest bank in the Philippines in terms of assets and is the largest government-owned bank. It is also one of the biggest government-owned and controlled corporations and banking institutions in the Philippines along with the Development Bank of the Philippines (DBP), United Coconut Planters Bank (UCPB), Overseas Filipino Bank (OFW Bank), and Al-Amanah Islamic Investment Bank of the Philippines.

Unlike most Philippine banks, LandBank has an extensive rural branch network with 409 Branches and Extension Offices, 46 Lending Centers and 2,188 ATMs (as of February 2020). It services many rural sector clients in areas where banking is either limited to rural banks or is non-existent.

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