In the 1960s, Laguna was a sprawling province of rich and verdant sugar lands and rice fields, an agricultural haven. It was also strategically located at the doorsteps of metropolitan Manila, where the country’s economic development was centered. While agriculture sustained its residents, commercial and industrial prosperity beckoned. A few people clearly appreciated the region’s massive potentials and correctly divined its future. With the province’s impending growth, Rene Limcaoco, his father, sugar planter Felix, Sr. and younger brother Felix Jr., Dolores Santos, Dr. Leon Castillo, Amparo Hocson, and Don Eduardo Barreto deemed it essential to establish a bank that would address the requirements of Laguna’s hardworking people. Determined despite the risks, they placed their faith in the south and established the Laguna Development Bank, or LDB.
With a staff of ten and one location in Calamba, LDB began its operations anchored on simple yet powerful values: Teamwork. Trustworthiness. Tenacity. With these tenets, LDB began earning the trust of consumers, and steadily grew to a network of 40 branches throughout Metro Manila and Luzon. It is now the Philippines’ largest private development bank in the area. With its continued expansion, the bank was rechristened as the Luzon Development Bank or LDB.
Guiding LDB from its infancy was its first president, Felix “Bing” Limcaoco, Jr. A product of the University of the Philippines and Cornell University (Masters), he studied electrical engineering, placing 4th in the 1952 board examinations. Yet LDB’s future chairman emeritus found himself in banking, joining the Philippine National Bank’s management team and then taking up industrial finance at the London School of Economics on a Colombo scholarship.
The engineer-turned-banker gave LDB the clarity of purpose as well as an unwavering commitment to better the lives of more Filipinos. He also mandated the bank to become closer to the people by providing a personal and friendly touch and through this, serve as a catalyst to nation building. Felix Limcaoco Jr.’s presence was felt at LDB for almost 50 years, until his passing in 2011.
Today, LDB has carved a name for itself receiving recognition over the years. It was the first thrift bank in San Pedro City, Laguna in which our LDB branch there celebrated its 50th anniversary. LDB was the first bank too in Tanauan, Batangas and in many other areas where LDB came first and is currently strongly rooted. But the best recognition is the trust and confidence of our loyal clients who have been with the bank all these years.
The banking industry is rapidly changing. The advent of the Internet, mobile technology, and social media has reshaped the way LDB interacts with its core customers and team members. As such, it will take all these tools and use them to become a more customer-centric regional development bank. 2017 marks the 56 years of Luzon Development Bank’s existence and looking ahead, its management paves the way for a new LDB with focused optimism to do whatever is needed to ensure the success of its development plans. LDB targets the future by reaffirming its commitment in providing clients with quality and personalized service, knowing fully well that another half-decade of the bank strongly depends on customer satisfaction.
As LDB continues to grow, it solidifies its commitment to providing their valued customers with quality banking services with a personal and friendly touch. From Personal and Business Banking, to Cars and Properties Acquisition, LDB makes every transaction quick and easy. LDB tailors theirr products to the communities it serves. At LDB, they merge global capabilities with a local heart. And as they cater to sustain the momentum of growth, they give a whole new meaning to banking.