State shelter financing firm Pag-IBIG Fund posted robust earnings of P20.48 billion in the first half or a 27 percent increase from the same period last year, its top officials reported on Monday.
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, profit grew 19 percent and net income rose 27 percent, 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.,” Secretary Jose Rizalino L. Acuzar of the Department of Human Settlements and Urban Development, who serves as chairperson of the 11-member Pag-IBIG Fund Board of Trustees, said.
Home loans at record high
He added as of June, Pag-IBIG Fund also posted record-high numbers 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 members in the first half.
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 P19.4 billion.