MANILA - The Landbank of the Philippines said Thursday it would open another 23 new branches and deploy additional 190 automated teller machines (ATM) to expand its reach this year.

Out of the total, 16 will be full scale branches and "branch-lites", 5 agri-hubs and 2 mobile units, the lender said in a statement, adding that its network would grow to 500 by the end of the year.

Its agri-hubs, which cater to rice-producing provinces and the agriculture sector, will reach a total of 10 branches this year, Landbank said.

The 2 mobile branches will serve the banking needs in areas hit by calamities, it said.

Landbank said the new 190 ATMs will be installed nationwide. The network will serve clients, government workers as well as beneficiaries of the Pantawid Pamilyang Pilipino Program (4Ps). Total ATM network will exceed 2,500 by end of the year, it said.

“LANDBANK remains aggressive in expanding its extensive network to serve more clients and meet emerging needs. While the usage of our e-banking channels continue to rise under the new normal, our branches and other physical touchpoints remain equally important in servicing our clients, especially those in the countryside,” said LANDBANK president and CEO Cecilia C. Borromeo.

As of Feb. 15, Landbank said it has the 3rd largest ATM network in the country with a total of 2,316 ATMs.

• Landbank hits 94.5 pct of lending target to farmers, fishers as of Nov: DOF

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