Pag-IBIG posts record net income in first half of 2023 | ABS-CBN
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Pag-IBIG posts record net income in first half of 2023
Pag-IBIG posts record net income in first half of 2023
ABS-CBN News
Published Aug 02, 2023 05:45 PM PHT
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MANILA -- The Pag-IBIG Fund on Wednesday said its net income reached a record high P20.61 billion in the first half of 2023.
MANILA -- The Pag-IBIG Fund on Wednesday said its net income reached a record high P20.61 billion in the first half of 2023.
The fund said that the 11 percent increase in its net income was driven mainly by earnings from its housing and short-term loans, and investment portfolios.
The fund said that the 11 percent increase in its net income was driven mainly by earnings from its housing and short-term loans, and investment portfolios.
The agency’s total assets also reached P873.15 billion, a 6 percent growth from the P827.4 billion at the end of 2022.
The agency’s total assets also reached P873.15 billion, a 6 percent growth from the P827.4 billion at the end of 2022.
Department of Human Settlements and Urban Development (DHSUD) Secretary Rizalino Acuzar said the figures show that Pag-IBIG is ready to finance more homes under the Pambansang Pabahay para sa Pilipino or 4PH Program.
Department of Human Settlements and Urban Development (DHSUD) Secretary Rizalino Acuzar said the figures show that Pag-IBIG is ready to finance more homes under the Pambansang Pabahay para sa Pilipino or 4PH Program.
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"Our P20.61 billion net income during the first half of the year is the highest for any January to June period in our history," he added.
"Our P20.61 billion net income during the first half of the year is the highest for any January to June period in our history," he added.
Pag-IBIG Fund CEO Marilene Acosta, meanwhile, said the increase in net income shall benefit its members.
Pag-IBIG Fund CEO Marilene Acosta, meanwhile, said the increase in net income shall benefit its members.
She noted that 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.
She noted that 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.
"With our second half projections on our loan releases, collections and performing loans ratio high, we are optimistic that we can maintain our financial performance and provide Filipino workers the best returns on their savings as well as the means to acquire their own homes through our affordable home financing," she said.
"With our second half projections on our loan releases, collections and performing loans ratio high, we are optimistic that we can maintain our financial performance and provide Filipino workers the best returns on their savings as well as the means to acquire their own homes through our affordable home financing," she said.
In March, Pag-IBIG said its members' savings reached a "record-high" P80 billion in 2022.
In March, Pag-IBIG said its members' savings reached a "record-high" P80 billion in 2022.
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