THE Pag-IBIG Fund netted P20.61 billion in the first half of 2023, 11 percent higher compared to the same period last year, primarily due to earnings from housing and short-term (cash) loans, as well as investments.
Gross income for the period was P35.03 billion, 12 percent higher year on year.
"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," Pag-IBIG Fund Chairman Jose Rizalino Acuzar said.
Marilene Acosta, the agency's CEO, said members would ultimately benefit as Pag-IBIG's charter mandates that at least 70 percent of yearly net income be returned in the form of dividends and returns that 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 added.
Total assets as of June rose to P873.15 billion, 6.0 percent higher compared to the end-2022 level of P827.40 billion.
The agency's robust financial position, Acuzar said, makes it well-equipped to provide financing for additional homes through the Pambansang Pabahay para sa Pilipino or 4PH Program.
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