»Historical Background

 

LBP Leasing and Finance Corporation (LLFC) was created in line with Section 21-A of Republic Act 337 or the General Banking Act that allows Banks like Land Bank of the Philippines (LANDBANK) to invest in established companies with allied undertakings such as leasing and financing activities.

The Corporation was created by LANDBANK to provide support to the Bank and its clients in the form of financial and operating leases. Its primary purpose is "to engage in leasing of all kinds of equipment, extend credit to industrial, commercial, agricultural and other enterprise and engage in financing of merchandise in all their various forms". LBP Leasing and Finance Corporation makes available various leasing and financial facilities that support priority sectors in the acquisition of equipment and other capital assets as well as in providing working capital to expand, upgrade or modernize their operations.

LLFC was registered with the Securities and Exchange Commission (SEC) on March 17, 1983 as a fully-owned subsidiary of LANDBANK with an initial paid-up capital of Two Million Nine Hundred Pesos (P2,000,900.00) and was granted the authority to operate as Finance Company on March 18, 1983.

 

 

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Corporate Governance