LBP Leasing and Finance Corporation

A.  HISTORICAL BACKGROUND

The creation of LBP Leasing and Finance Corporation was in line with Section 21-A of Republic Act No. 337 or the General Banking Act which allows banks such as LANDBANK to invest in equities of companies with allied undertaking such as leasing activities.

The Corporation was created by LANDBANK to provide support to Land Bank and its clients thru financing and leasing (both financial and operating facilities). It has a secondary license to operate as a Finance Company from the Securities and Exchange Commission (SEC).

LLFC was organized as a fully owned subsidiary of Land Bank of the Philippines (LBP) with an initial paid-up capital of Two Million Nine Hundred Pesos (P2,000,900.00) and authorized capital of Twenty-six Million Pesos (P26,000,000.00). In year 1997, SEC approved the increase of authorized capital to Five Hundred Million Pesos (P500,000,000.00) and subscribed capital stock to Eight Million Nine Hundred Pesos (P8,000,900.00). As of December 31, 2018, the total subscribed capital stock amounted to Four Hundred Eighty-Five Million Five Hundred Fifty-Two Thousand Five Hundred Fifty Pesos (P485,552,550.00).

LLFC’s Articles of Incorporation was amended and approved by SEC on 03 November 2015 with the following amendments:

1. Change of name to LBP Leasing and Finance Corporation
2. Amendment of Articles I, II, and III thereof.

B. LEGAL BASIS

LLFC was registered with the Securities and Exchange Commission on under SEC Registration No. 111115 on17 March 1983. It was incorporated under the provision of Batas Pambansa Blg. 68, otherwise known as the “Corporation Code of the Philippines”.

LLFC was authorized by SEC to operate as a financing company in accordance with the Financing Company Act of 1998 (Republic Act No. 8556 and its implementing rules and guidelines) under Certificate of Authority No. 042 on 18 March 1983. A replacement certificate was issued on 8 December 2015 to reflect the amendment of Corporate’s name, primary purpose and corporate address.

CORPORATE MISSION

To provide provide broad spectrum of leasing and financial products and services to government agencies, LBP borrowers, and clients in the priority sectors that support the National Economic agenda.

CORPORATE VISION

By 2025, LLFC will be among the country's top 5 bank affiliated leasing and finance companies in terms of total assets.

CORE VALUES

(Adopted from LANDBANK)

• Innnovation
• Accountability
• Customer Focus
• Collaboration
• Excellence
• Social Responsibility
• Resilience