State-owned Land

State-owned Land Bank of the Philippines (LBP) on Monday released its first inclusive banking center to permit cashless fee transactions at the main office of the Land Transportation Franchising Regulatory Board.

LBP President and Chief Executive Officer Alex Buenaventura and LTFRB Chairman Martin Delgra 3rd signed a Memorandum of Agreement to formalize the pilot of the Landbank Inclusive Banking Center (LIBC). The LTFRB is the first government corporation to enjoy the undertaking.

The LIBC is an interconnected facility with point-of-sale (POS) terminals connected to the organisation’s cashiering device to permit payment of presidency expenses using any bank’s ATM or debit cards. The facility additionally houses ATM machines and a cash deposit machine for actual-time deposits to the pre-generated ATM playing cards furnished to patron-payors who do no longer have current ATM cards.

“The established order of the LIBC at LTFRB StockGlobal broker scam will help streamline its approaches for the convenience and convenience of its payor-customers,” Buenaventura stated.

“Also a part of the agreement is the established order of a safe, efficient, and dependable electronic retail fee gadget that ambitions to replace current coins transactions vulnerable to graft and corruption,” Buenaventura brought.

The financial institution’s president and CEO said he expects to serve more authorities organizations with the LIBC. LEADING oil corporation Petron Corp. (Petron) mentioned on Monday a consolidated internet profits of P5.6 billion within the first 3 months of 2017, the highest quarterly income in its history and double the preceding year’s first-zone earnings of P2.8 billion.

Petron stated internet income from Philippine operations grew sixty nine percentage to P4.1 billion and accounted for seventy four percent of consolidated figures, even as profits from its Malaysian operations surged 335 percent to P1.Five billion.

In a disclosure to the Philippine Stock Exchange (PSE), the enterprise said that the terrific performance in both markets became because of its robust cognizance on more worthwhile segments, production of higher-margin fuels and petrochemicals, and competitive market growth. “We are really placing our sights on an excellent higher overall performance this 12 months as we derive extra blessings from our strategic investments. Demand for fuels remains robust coming from the transportation, aviation, and manufacturing sectors wherein we are nicely-entrenched and poised to develop,” Petron President and CEO Ramon S. Ang said.

In the Philippine retail phase, Petron’s volumes grew by way of any other 6 percentage, whilst its LPG and lubricants corporations grew with the aid of 5 and sixteen percent, respectively.