Pag-IBIG income hits P22.41B as of end-Sept

The Home Development Mutual Fund, or Pag-IBIG Fund, registered a record-high net income of P22.41 billion for the first nine months of 2017, a 14-percent increase from the same period last year.

In a statement, Pag-IBIG said the latest figure was only P2.72 billion shy of its income targets for the year. It also said loan releases from its End-User Home Financing Program exceeded the nine-month target by P1.42 billion, and efforts to update past due accounts resulted in P2.34 billion in an additional income.