Pag-IBIG H1 income rises to P41.35B

MANILA, Philippines — The Pag-IBIG Fund posted a 24-percent rise in net income in the first six months of the year, driven by sustained earnings from its loan portfolio and strong investment income.

In a statement Tuesday, the state-run housing fund said it earned P41.35 billion from January to June. Gross income reached P52.98 billion, up 19 percent from a year earlier.

READ: Pag-IBIG Fund profits climb 11% to P16.7B in Q1

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Investment income mainly fueled the increase, with earnings from bonds, preferred shares, and time deposits surging 47 percent to P6.85 billion.

Meanwhile, total assets climbed 6 percent to P1.32 trillion as of end-June.

“Our financial strength enables us to open more doors to homeownership and help Filipino workers fulfill their dream of having a home of their own, while prudently managing and growing the savings entrusted to us,” Housing Secretary Jose Ramon Aliling said.

Despite the gains, Pag-IBIG kept its 3-percent housing loan rate and raised the maximum loan amount to P10 million.

READ: Pag-IBIG emergency loan releases reach P5.82B

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For her part, Pag-IBIG CEO Marilene Acosta said the agency manages its finances prudently, as stronger earnings translate into higher dividends for members.

“We fully recognize the trust our members place in Pag-IBIG Fund to safeguard their hard-earned savings and help their money grow. This trust is reflected in the fact that, in recent years, voluntary savings from our members have accounted for more than half of our total savings collections,” she said.

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“That is why we continue to manage every peso with utmost prudence and seek the highest possible returns, while providing affordable home financing under Expanded 4PH,” she added. /pai