Pag-IBIG nets P16 billion in Q1

CEBU, Philippines — Pag-IBIG Fund surpassed its first quarter net income target this year, posting P16.04 billion net income.

Pag-IBIG Fund executive officer Acmad Rizaldy P. Moti attributed this to the agency’s record-breaking performance due to increasing members’ contribution and property developers’ active stance to build more homes.

Also, Pag-IBIG Fund achieved an all-time high housing loan takeout performance of P37.07 billion. This benefits a total of 41,797 members who now have their own homes.

Pag-IBIG members’ savings collections reached P23.4 billion. While the agency recorded P30.4 billion housing loan payment collections.

A total of 652,970 members were able to access of Pag-IBIG’s short-term loan facility, amounting to P26.3 billion.

Meanwhile, Pag-IBIG Fund recently recognized top developers and employers in the Visayas during the 3rd leg of its Stakeholders Accomplishment Reports (StAR) held Tuesday at the Seda Hotel Ayala Center.

“The Pag-IBIG Star allows us to recognize the efforts of our stakeholders and also gives us the opportunity to update them of what we have accomplished during the first half of this year,” Moti said.

According to Moti, Pag-IBIG’s stellar performance for the first six months of the year is due to the unrelenting support of its partner employers and developers.

Recognized during the event as the agency’s top developer in the Visayas was Prima Casa Land and Houses Inc., followed in order bu 8990 Housing Development, Johndorf Ventures Corporation, ProHomes Development Corporation, 77 Living Spaces Inc., Cebu Landmasters Inc., Deo Homes Properties Development Corporation, Kenrich Development Corporation, Bacolod South Homes Corporation, Alpa Land Inc., and Saekyung Realty and Development Corporation.

Top government employers also recognized during the event were City government of Cebu, and the provincial governments of Negros Occidental and Iloilo.

Meanwhile, top private sector employers included Cebu Mitsumi, Inc., Cebu General Services, Inc., and The Philippines Spring Water Resources, Inc.