STATE-RUN housing agency Pag-IBIG Fund announced a record P30.27 billion net income in 2017 on the back of all-time high home loan disbursements during the year.
Pag-IBIG said gross income last year reached P43.33 billion driven by the strong demand for loans.
It said home loans released amounted P65.1 billion, which was disbursed to 80, 964 Pag-IBIG members last year, while multi-purpose loans released totaled P45.37 billion.
In the period, Pag-IBIG fund also recorded its highest ever members’ saving collection at P36.3 billion.
Pag-IBIG Fund said its members will be the ones to benefit from this strong financial performance as a bulk of its net income will be credited to them in the form of dividends.
“If Pag-IBIG Fund will have the same pay out as in 2016 at 90%, it may credit to members’ accounts P27.29 billion in dividends—the biggest amount ever credited by Pag-IBIG Fund,” said Pag-IBIG Fund Chairperson Eduardo del Rosario.