2023 a record year for Pag-IBIG Fund

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Pag-IBIG Fund posted another banner year in 2023 as the agency’s net income reached a record high P49.79 billion, a 12 percent increase from the P44.50 billion the year prior.

The agency also reported several record high figures for the year, with home loans reaching P126.04 billion enabling 96,848 of its members gain new or better homes, total membership savings collected amounting to P89.26 billion, and cash loan releases amounting to P59.32 billion aiding over 2.65 million members with their financial needs.

The agency ended the year with total assets at its highest, amounting to P925.61 billion.

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Pag-IBIG Fund declared P48.76 billion in dividends to be distributed to its members as earnings on their savings in 2023, the highest in its 43-year history.

For 2023, Pag-IBIG Regular Savings earned an annual dividend rate of 6.55 percent while the Modified Pag-IBIG 2 (MP2) Savings gained an annual return rate of 7.05 percent, both record-highs since the pandemic.

These  were among the highlights of the Pag-IBIG Fund Chairman’s Report for 2023 presented to President Ferdinand Marcos Jr. on February 27.

Secretary Jose Rizalino Acuzar of the Department of Human Settlements and Urban Development (DHSUD) who also heads the 11-member Pag-IBIG Fund Board of Trustees, meanwhile, said that the agency’s highest dividend rates since the pandemic are the result of the agency’s record-high net income coupled with the highest dividend payout ratio approved by the Pag-IBIG Board.

Acuzar said that while the agency is required to return only at least 70 percent of its annual net income as dividends on the savings of its members, the Pag-IBIG Board approved a record-high 97.86 percent payout ratio, resulting in a record-high dividend amount of P48.76 billion.

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