The Home Development Mutual Fund (Pag-IBIG Fund) has reported a record-breaking performance for 2017, with its gross income totallung P 43.3 billion, or a 13 percent increase from the P 38.2 billion in 2016.
Pag-Ibig Fund Chairman Eduardo D. del Rosario reported that the firm’s financial performance can be attributed to the reforms and other improvements that are continuously being implemented by the fund.
THIS YEAR, WE HAVE REAFFIRMED PAG-IBIG FUND’S STANDING AS A STRONG AND RELIABLE PARTNER OF FILIPINO WORKERS AND OTHER STAKEHOLDERS”
For 2017, Pag-IBIG’s net income reached P 30.2 billion, expanding by 21 percent from the P25 billion in 2016. Pag-IBIG Fund CEO Acmad Rizaldy P. Moti also reported that Pag-IBIG recorded home loan takeouts for the year amounting to P65.1billion, expanding by 14 percent from the P57.3 billion recorded in 2016. Collection also increased with P51.6 billion from housing loans, compared from the P43.7 billion in 2016.
“FOR THE FIRST TIME, WE HIT P30 BILLION IN OUR NET INCOME. OUR MEMBERS WILL REAP THE BENEFITS OF THIS AS THEY WILL RECEIVE DIVIDENDS OF AT LEAST 7 PERCENT IN THEIR PAG-IBIG SAVINGS.
The agency was able to record its highest ever performing loans ration at 90 percent for the year from 89 percent in 2016, while its non-performing loans ratio for the year decreased to 9.8 percent.
Pag-IBIG Fund also recorded its highest member savings collection for the year at P36.3 billion, while its multipurpose loan releases reached P45.3 billion.
WITH REPORTS FROM: REA CU, BUSINESS MIRROR
PHOTOS FROM: http://www.hudcc.gov.ph, http://edgedavao.net, http://subicnewslink.blogspot.com