Pagibig Fund is optimistic to achieve at least P30 billion in annual net income in 2022, for the sixth consecutive year, following a 27 percent increase in net income in the first half.
Pag-IBIG Fund posted earnings of P20.48 billion in the first half of 2022 from P16.11 billion in the same period in 2021.
Gross income for the period reached P32.19 billion, up 19 percent from P27.14 billion a year ago.
The Fund said the first semester performance was 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,” said Secretary Jose Rizalino Acuzar of the Department of Human Settlements and Urban Development, who serves as chairperson of the 11-member Pag-IBIG Fund Board of Trustees.
Acuzar said as of June, Pag-IBIG Fund also posted record-highs 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 its members during the first half of the year. 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 P19.40 billion.
Acmad Rizaldy Moti, Pag-IBIG Fund chief executive officer, said the agency’s gains 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 which are credited to their savings. – Irma Isip
