STATE-RUN Land Bank (LandBank) of the Philippines and Development Bank of the Philippines (DBP) will not seek an extension of the regulatory relief granted in the wake of their capital infusions to the Maharlika Investment Fund.

LandBank President and CEO Lynette Ortiz told reporters last Thursday that it was the "first and last" time that they would ask for an exemption from compliance with stress ratios.

DBP President and CEO Michael de Jesus echoed this, saying it is "not on the table" right now.

Both state-owned banks requested a reprieve from the BSP's minimum capital requirements last year after contributing a combined P75 billion to the startup capital of the Philippines' first sovereign wealth fund.

Based on BSP regulations, universal banks must maintain a minimum capitalization ranging from P3 billion to P20 billion, depending on the number of branches they operate.

LandBank has an authorized capital stock of P200 billion, while DBP's authorized capital is P35 billion. For the initial capital of the MIF, the LandBank and DBP contributed P50 billion and P25 billion, respectively, to the Bureau of the Treasury.

"Regulatory relief for us is not, I'll say, like a big concern," Ortiz said, adding that "our numbers are strong."

"[W]e're making every effort because, as I said, we can't be complacent," she added.

"That's why we're making every effort to really ensure that the bank generates enough capital to really be able to replenish ... while, of course, meeting all our objectives ... and generate sufficient financial viability for the bank to be able to continue doing what we do."