Driven by the strong collection of home loan payments in the last 10
months, Pag-IBIG Fund’s performing loans ratio climbed to 89.96% in
October, exceeding the agency’s yearend target by 196 basis points, top
executives announced Monday (28 November).
From January to October, home loan payments amounted to P57.58 billion,
a double-digit increase of 30 percent, or P13.31 billion higher than the
P44.27 billion collected in the same period last year. The amount is a
record high in terms of home loan payments collected by the agency for any
January to October period.
“We are happy to report that the amount of home loan payments we have
collected so far this year is the highest in our history. This is good news as it
reflects the continued recovery of our borrowers from the financial difficulties
caused by the pandemic. Our strong collections is key in maintaining our
financial sustainability, as the amount we collect are ploughed back to our
housing portfolio so that more members can avail of affordable home loans
from Pag-IBIG Fund. This is one of our ways of heeding President Ferdinand
Marcos, Jr.’s call in solving the country’s housing backlog within the next six
years,” said Secretary Jose Rizalino L. Acuzar, who heads both the
Department of Human Settlements and Urban Development and the 11-
member Pag-IBIG Fund Board of Trustees.
Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta added that
because of its record-high collections, the agency has exceeded its yearend
target on its performing loans ratio (PLR) earlier than projected.
As of October, Pag-IBIG Fund’s PLR stood at 89.96% surpassing its yearend
target of 88%, while gaining 1,028 basis points from September 2021
figures when the agency’s PLR dipped to 79.68% following the effects of the
pandemic.
“We thank our members for their efforts in fulfilling their payment obligations
on their Pag-IBIG Housing Loans. It shows their growing appreciation that
their on-time payments allow us to continue financing the loans of other
members who wish to secure housing loans of their own. And, as we all
continue to recover from the pandemic, we shall keep working hard to
maintain our collections strong and our PLR high. These would allow us to
not only address the loan needs of our members, but to also keep our interest
rates low despite the upward market trend. These are all part of our Lingkod
Pag-IBIG commitment to provide accessible and affordable home loans for
each Filipino worker,” Acosta added.
