About Us

Mandate and History

I. INTRODUCTION

LBP LEASING AND FINANCE CORPORATION (LLFC, formerly LBP Leasing Corporation), a wholly owned subsidiary of Land Bank of the Philippines (LANDBANK) was established under the Corporation Code of the Philippines on March 17, 1983 to complement the product lines being offered by the Bank.

LLFC's leasing facilities make it easier for enterprises to expand, upgrade, or modernize their operations. Among others, leasing enables enterprises to:

  • Match financing terms with the earning potential of the capital asset.
  • Preserve working capital and credit lines.
  • Address existing or current budget limitation
II. HISTORY
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 subscribed capital stock of the company 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.

On 06 August 2024, the Office of the President issued Executive Order 65 s. 2024 Approving the Merger of LBP Leasing and Finance Corporation and UCPB Leasing and Finance Corporation, with LLFC as surviving entity. Thereafter, on 28 February 2025, SEC approved the aforementioned merger and the increase in LLFC’s Authorized Capital Stock from Five Hundred Million Pesos (P500,000,000.00) to One Billion Five Hundred Million (P1,500,000,000). The SEC also approved the Amended Articles of Incorporation and By-Laws of the Corporation on the same date.

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.

On 06 August 2024, the Office of the President issued Executive Order 65 s. 2024 Approving the Merger of LBP Leasing and Finance Corporation and UCPB Leasing and Finance Corporation, with LLFC as surviving entity. This was subsequently approved by the SEC on 28 February 2025.

III. PRIMARY PURPOSE

Based on the Amended Articles of Incorporation approved by SEC on 28 February 2025, LLFC's primary purpose is as follows:

To engage, transact, and deal in the business of leasing and financing in all its aspects and forms, including that of financial leases, direct leases, and operating leases, with the power to arrange, underwrite, manage, develop or administer leases of any and all types of real and personal properties, any and all kinds of equipment, machineries, vehicles, vessels, airplanes, appliances, merchandise and facilities, for whatever use, via finance-related transactions such as but not limited to: sale-lease back arrangements, hire-purchase agreements and other lease financing schemes; to extend credit facilities to single proprietorships, and to industrial, commercial or agricultural enterprises, whether public or private in character, by way of loans or direct lending, or discounting, rediscounting or factoring commercial papers or accounts receivables, or by buying or selling contracts, leases, chattel mortgages or other evidence of indebtedness; and to carry on and exercise, generally, the business and powers of a financing company under the Financing Company Act, as amended, and to do any act or engage in any activity that may be directly or indirectly necessary, proper or convenient for the accomplishment of its primary purpose.

Board of Directors as of 19 September 2024

Dir. Roberto U. Teo Chairperson 8818-2200
Dir. Nanziancino M. Dilay Vice-Chairperson 8818-2200
Dir. Michael P. Arañas Member/President and CEO 8818-2200
Dir. Fritz M. Salazar Member 8818-2200
Dir. Conrado S. Minano, Jr. Member 8818-2200
Dir. Leticia V. Damasco Member 8818-2200
Dir. Virgilio M. Sangutan Member 8818-2200
Dir. Edgar Crisanto R. Violan Member 8818-2200
Dir. Alvin I. Kong Member 8818-2200

Corporate Officers

Dir. Michael P. Arañas President and CEO 8818-2200 loc. 240
Atty. Maximillian King Z. Fernandez Corporate Secretary (assumed on September 19, 2024) 8818-2200
Atty. Reo S. Andarino Corporate Secretary (until September 19, 2024) 8818-2200
Riza M. Hernandez Vice President / Corporate Treasurer / Head, Account Servicing Group 8818-2200 loc. 410
Raizza L. Gonzales Vice President / Head, Corporate Services Group 8818-2200 loc. 203
Peter Paul I. Rigor Vice President / Head, Account Management Group 8818-2200 loc. 323
Atty. Ed Vincent A. Albano III Vice President / Head, Office of the General Counsel 8818-2200 loc. 260

CORPORATE VISION

By 2030, LLFC will be among the leading leasing and financing institution, playing a pivotal role in supporting the Philippine Government's efforts to foster a strong and sustainable economic development, through its inclusive and innovative financing solutions.

CORPORATE MISSION

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

GUIDING PRINCIPLES

Core Values (Adopted from LANDBANK)

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

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