Pag-IBIG posts P20.48 B income in H1 2022: up 27%

Pag-IBIG Fund posted earnings of P20.48 billion in the first half of 2022,
an impressive 27% increase compared to the same period last year, its top
officials reported on (Monday, 08 August).

From January to June, Pag-IBIG Fund’s gross income reached P32.19
billion, while net income amounted to P20.48 billion. Compared to the
same period last year, gross income grew 19% and net income rose 27%,
driven mainly by earnings from its housing and short-term loans (cash
loans), and trading gains.

“Pag-IBIG Fund continues its strong performance this year. The double-digit
increase in our income figures proves that we remain as one of the best
performing government corporations in the country today. This places us in
a strong position to continue providing social services and help more
Filipinos gain better lives, in line with the directive of President Ferdinand
Marcos, Jr.,” 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 added that as of June, Pag-IBIG Fund also posted record-highs in both
home loan releases and membership savings collections. The agency has
so far released P51.96 billion in home loans to finance the acquisition of
47,184 homes for its members during the first half of the year. Savings
from its members, on the other hand, reached P38.82 billion, strongly
driven by the agency’s popular MP2 Savings where members have
collectively saved P19.40 billion.

Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti, meanwhile,
emphasized that the agency’s gains shall redound to the benefit of its
members. He 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 which are credited to their savings.

“Pag-IBIG Fund is wholly-owned by the Filipino workers. That is why it is
our responsibility, as the administrators of the Fund, to manage their
contributions responsibly and excellently. With our second half prospects in
terms of loan releases and collections high, we are optimistic that we will
achieve at least P30 billion in annual net income level for the sixth
consecutive year. This is our commitment to our members,” Moti said.

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