Pag-IBIG Fund netted a record high income of P20.61 billion in the first half of
2023, the agency’s top executives announced on Thursday (July 20).
From January to June, Pag-IBIG Fund’s gross income reached P35.03 billion,
while net income amounted to P20.61 billion. Compared to the same period
last year, gross income grew by 12% or P3.80 billion while net income
increased 11% or P2.05 billion, driven mainly by earnings from its housing and
short-term (cash) loans, and investment portfolios.
“I am happy to report that Pag-IBIG Fund’s performance this year remains strong.
Our P20.61 billion net income during the first half of the year is the highest for any
January to June period in our history. Our performance shows how excellently we are
managing the funds that our members have saved with us. With our strong fiscal
standing, we remain in a strong position to finance more homes under the Pambansang
Pabahay para sa Pilipino or 4PH Program, in line with the directive of President
Ferdinand Marcos, Jr under the Bagong Pilipinas Campaign to help more Filipinos
have better and more dignified lives,” said Secretary Jose Rizalino L. Acuzar of the
Department of Human Settlements and Urban Development (DHSUD), who
serves as chairperson of the 11-member Pag-IBIG Fund Board of Trustees.
He also added that as of June, the agency’s total assets have already reached
P873.15 billion, a 6% or P45.75 billion growth from the yearend 2022 level of
P827.40 billion.
Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta, meanwhile,
emphasized that the increase in net income shall redound to the benefit of its
members. She noted that under its charter, Pag-IBIG Fund is mandated to
return at least 70% of its annual net income to its members in the form of
dividends and returns, which are credited to their savings.
“Pag-IBIG Fund is owned wholly by its members – the Filipino workers. That is why
as administrators of the Fund, it is our responsibility to manage their contributions
wisely and excellently. With our second half projections on our loan releases,
collections and performing loans ratio high, we are optimistic that we can maintain
our financial performance and provide Filipino workers the best returns on their
savings as well as the means to acquire their own homes through our affordable home
financing,” Acosta said
