Pag-IBIG home loan payments hit P38B

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    Following the strong collection of home loan payments in the last nine months, Pag-IBIG Fund’s performing loans ratio climbed to an all-time high, the agency said in a statement.

    From January to September, the agency collected P38.56 billion,12 percent or P4.17 billion higher than the amount collected in the same period last year.

    The amount is also a record high in terms of home loan payments collected by the agency for any January to September period.

    In the third quarter alone, home loan payments grew 20 percent year-on-year to P13.98 billion.

    As of September, PLR reached 91.03 percent – the highest in the history of the Pag-IBIG Fund. In 2012, the agency’s PLR stood at a low 75 percent. Through several reforms, the agency improved its portfolio until it reached 90 percent for the first time in 2017. Its PLR further improved to 90.23 percent by the end of 2018 and increased further to its highest figure to date.