Pag-IBIG Fund netted a record income of P20.61 billion in the first half of 2023, an 11 percent to from P18.56 billion last year, the agency said in a statement yesterday.
Gross income went up 12 percent to P35.03 billion from P31.23 billion recorded in the same period in 2022.
Pag-IBIG said the record first half performance was driven mainly by earnings from its housing and short-term cash loans, and investment portfolios.
Secretary Jose Rizalino Acuzar of the Department of Human Settlements and Urban Development who chairs the Pag-IBIG Fund Board of Trustees said as of June, the agency’s total assets have reached P873.15 billion, a 6 percent growth from the yearend 2022 level of P827.40 billion.
Marilene Acosta, Pag-IBIG Fund chief executive officer, the increase in net income shall redound to the benefit of its members.
Under its charter, Pag-IBIG Fund is mandated to return at least 70 percent of its annual net income to its members in the form of dividends and returns, which are credited to their savings.
