The 14.69 million active members of Pag-IBIG Fund collectively saved P50.38 billion in 2019, the highest on record, according to Secretary Eduardo Del Rosario of the Department of Human Settlements and Urban Development.
In his Chairman’s Report on February 7, Del Rosario said this figure is 25 percent higher than the members’ savings collected in 2018.
Del Rosario, chairperson of the Pag-IBIG Fund Board of Trustees, said the Fund posted a net income of P34.37 billion in 2019, also the highest in its history.
Del Rosario attributed the growth in members’ savings collections to the huge spike in the agency’s Modified Pag-IBIG 2 Savings collections, which grew 169 percent to P12.01 billion from the P4.47 billion collected in 2018.
“The phenomenal increase in our savings collections is critical to Pag-IBIG Fund’s growth because it is through the collective savings of members that Pag-IBIG is able to extend more loans and more benefits at affordable rates to our borrowers,” Del Rosario said.
Del Rosario also reported the Fund released a total of P86.74 billion to finance the homes of 95,276 members. Of this amount, P10.64 billion was released for socialized housing, benefitting 27,145 borrowers belonging to the minimum-wage and low-income sectors.
In terms of cash loans, Pag-IBIG Fund released a total of P53.83 billion to 2,593,538 members.
Pag-IBIG Fund’s total assets stood at P603.39 billion by end of 2019.
