Pag-IBIG Fund collected P31.97 billion in home loan payments in the first five months of 2023, which is 15 percent or P4.22 billion higher than the amount collected in the same period last year.
With this Pag-IBIG’s performing loans ratio surged to 92.53 percent from 90.69 percent as of December last year or up 184 basis points.
The amount collected in the first five months is also a record-high in terms of home loan payments collected by the agency for any January to May period.
“Our total collections for the first five months of the year already stand as the highest in our history. Strong collections not only reinforce Pag-IBIG Fund’s financial sustainability, but also benefits our members because the amount we collect are then ploughed back to our housing portfolio so that more members can avail of our home loans,” said Secretary Jose Rizalino L. Acuzar, who heads both the Department of Human Settlements and Urban Development and the 11-member Pag-IBIG Fund Board of Trustees.
Marilene Acosta, Meanwhile, Pag-IBIG Fund chief executive officer, said on-time payments of members are clearly reflective of their trust in the agency
“Our strong collections and PLR would allow us to not only address the loan needs of our members, but also to keep our interest rates low despite the prevailing market conditions,” Acosta added.
