Latest news with #ExpandedPambansangPabahayparasaPilipino
GMA Network
01-08-2025
- Business
- GMA Network
Pag-IBIG Fund posts record-high P28.04B net income in H1 2025
The Home Development Mutual Fund or Pag-IBIG Fund saw its bottom line grow by double-digit in the first half of 2025 on the back of higher premium collections and earnings from its housing loan programs. In a statement on Friday, Pag-IBIG Fund reported a net income of P28.04 billion, up 15.25% or P3.71 billion from a year earlier. This is the highest net income recorded since the agency was founded in 1980, according to the housing fund. The fund added that its gross earnings stood at P44.39 billion, up 11.65% or P4.63 billion higher year-on-year. Pag-IBIG Fund said its financial performance during the period was due to strong collections and higher earnings from its housing and short-term loan portfolios. 'This performance shows how excellently we are managing the funds that our members have entrusted to us. With our strong fiscal standing, we remain capable of continuing to deliver our members' benefits and are in a solid position to finance more homes under the 'Expanded Pambansang Pabahay para sa Pilipino' or Expanded 4PH Program, in line with the directive of President Ferdinand R. Marcos Jr. to empower more Filipinos to achieve better, more dignified lives,' said Secretary Jose Ramon Aliling of the Department of Human Settlements and Urban Development, who also chairs the 11-member Pag-IBIG Fund Board of Trustees. Moreover, Pag-IBIG Fund said higher investment returns also contributed to its first half 2025 income growth. In particular, the fund's income from investments surged by 51.79% year-on-year to P4.27 billion 'driven by strategic placements in bonds and other debt securities, money market instruments, equities, and investment properties.' Pag-IBIG Fund said its investment income accounted for 5.56% of the fund's total gross earnings during the period. For her part, Pag-IBIG Fund CEO Marilene Acosta bared the fund's financial position. As of June 2025, Pag-IBIG Fund's total assets stood at P1.14 trillion, up 7.02% or P74.90 billion increase from the year-end 2024 figure of P1.07 trillion. Acosta said the agency's strong performance 'directly benefits its members' as the fund, under its charter, returns at least 70% of its annual net income to members in the form of dividends, which are credited to their savings every year. — BAP, GMA Integrated News
Filipino Times
01-08-2025
- Business
- Filipino Times
Pag-IBIG Fund net income jumps 15% to ₱28B in H1 2025, highest in 45 years
Pag-IBIG Fund reported double-digit year-on-year growth in its income for the first half of 2025, marking the highest earnings for the period in the agency's 45-year history, top officials announced on Friday (August 01). From January to June, the agency's gross income reached ₱44.39 billion, rising by 11.65 percent or ₱4.63 billion compared to the same period last year. Meanwhile, Pag-IBIG Fund's net income grew by 15.25 percent or ₱3.71 billion to reach ₱28.04 billion. This is the highest net income recorded since the agency was founded in 1980. Officials attributed the growth to strong collections and higher earnings from Pag-IBIG Fund's housing and short-term loan portfolios. 'This performance shows how excellently we are managing the funds that our members have entrusted to us. With our strong fiscal standing, we remain capable of continuing to deliver our members' benefits and are in a solid position to finance more homes under the Expanded Pambansang Pabahay para sa Pilipino, or Expanded 4PH Program, in line with the directive of President Ferdinand R. Marcos Jr. to empower more Filipinos achieve better, more dignified lives,' said Secretary Jose Ramon P. Aliling of the Department of Human Settlements and Urban Development, who also chairs the 11-member Pag-IBIG Fund Board of Trustees. Higher investment returns also contributed to the income growth. The agency's income from investments surged by 51.79 percent year-on-year to ₱4.27 billion. This was driven by strategic placements in bonds and other debt securities, money market instruments, equities, and investment properties. Investment income accounted for 5.56 percent of the agency's total gross income in the first half of the year. Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta, meanwhile, emphasized the strength of the agency's financial position. As of June 2025, Pag-IBIG Fund's total assets stood at ₱1.14 trillion, reflecting a 7.02 percent or ₱74.90 billion increase from the year-end 2024 figure of ₱1.07 trillion. Acosta further stated that the agency's strong performance directly benefits its members. Under its charter, the agency returns at least 70 percent of its annual net income to members in the form of dividends, which are credited to their savings every year. 'Pag-IBIG Fund is owned by its members — the Filipino workers. It is our duty to grow and protect their savings,' Acosta said. 'Guided by President Marcos Jr.'s call for government institutions to deliver responsive social benefits, we continue to ensure that our members enjoy competitive earnings on their savings and gain access to affordable home financing. We are committed to sustaining our strong performance to help uplift the lives of more Filipino workers,' she added.
Filipino Times
29-07-2025
- Business
- Filipino Times
Access Pag-IBIG membership services, loan consultations at OFW Serbisyo Caravan in Dubai
Filipinos in the UAE can now easily access essential Pag-IBIG Fund programs tailored for their needs as the one-stop Bagong Bayani: OFW Serbisyo Caravan comes to Dubai. This initiative aims to bring government services closer to Filipinos working overseas, making it easier to manage their Pag-IBIG Fund transactions without having to travel far. On August 3 at the Dubai World Trade Center, Pag-IBIG Fund will offer a range of membership services, including registration for new members, updating records, and assisting with account-related concerns. Members can also enroll in the Modified Pag-IBIG I Savings Program (MP2), which offers higher dividends compared to regular savings. The issuance of the Pag-IBIG loyalty card, which provides discounts and convenient cash card features, will also be available. For those interested in home financing, the caravan will provide housing loan consultations, answer inquiries, and assist applicants with the necessary requirements. Multi-purpose loan applications will also be accepted during the event. Loan programs such as the Expanded Pambansang Pabahay para sa Pilipino (4PH) housing loan, Health & Education Loan Programs (HELPs), Home Equity Appreciation Loan (HEAL), as well as acquired assets available for bidding, and Home Saver Programs will be on hand to help members meet their diverse financial goals. To further support convenience, members can take advantage of the Virtual Pag-IBIG app for easy online access to services. Payments and savings can also be made hassle-free through more than 400 overseas remittance partners, streamlining contribution payments for Filipinos abroad. The Bagong Bayani: OFW Serbisyo Caravan is a government-led effort designed to bring vital services to Filipinos overseas by combining multiple agency offerings into a single event.
Filipino Times
01-07-2025
- Business
- Filipino Times
Pag-IBIG Fund earns 13th straight unmodified opinion from COA
Pag-IBIG Fund has earned its 13th consecutive Unmodified Opinion from the Commission on Audit (COA), reaffirming its commitment to excellence in financial management, sound governance practices, and consistent compliance with accounting and auditing standards, officials announced on Tuesday, July 1. The latest audit opinion followed COA's comprehensive review of Pag-IBIG Fund's financial statements and operations for the year 2024. The review confirmed that the agency's transactions were properly conducted in accordance with applicable laws and regulations, and that its financial statements were fairly presented, in all material respects, in line with relevant government accounting and reporting standards. 'This is further proof that Pag-IBIG Fund has been, and continues to be, managed with professionalism, prudence, and integrity,' said Secretary Jose Ramon P. Aliling, head of the Department of Human Settlements and Urban Development and Chairperson of the 11-member Pag-IBIG Fund Board of Trustees. 'It is a testament to how Pag-IBIG Fund upholds the highest standards in managing our members' hard-earned savings and in fulfilling its mandate to serve the Filipino worker. This achievement also reflects Pag-IBIG Fund's strong position, as it plays a key role in the administration's flagship Expanded Pambansang Pabahay para sa Pilipino (4PH) Housing Program. We remain committed to the directive of President Ferdinand Marcos Jr. to build a more secure, resilient, and prosperous future for every Filipino family.' COA had previously issued unqualified opinions on Pag-IBIG Fund from 2012 to 2017 and unmodified opinions from 2018 to 2024. With this latest result, Pag-IBIG Fund joins a short list of Philippine government agencies and GOCCs that have consistently received unqualified and unmodified opinions for over a decade, a noteworthy distinction that underscores its sustained fiscal discipline and commitment to transparency. Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta likewise emphasized the significance of this recognition, highlighting how it reflects the agency's outstanding performance and service delivery in 2024. 'Pag-IBIG Fund exceeded the one-trillion-peso mark in total assets and posted a historic net income of ₱66.78 billion last year. We also achieved all-time highs in our housing loan releases, cash loan disbursements, and loan collections, enabling more Filipino workers to access affordable home financing and meet their short-term financial needs. Earning COA's Unmodified Opinion for the 13th consecutive year affirms that we accomplished all these while upholding the highest standards of integrity, in line with President Marcos Jr.'s call for excellence and accountability in public service, said Acosta.' 'This recognition reinforces our members' trust, knowing that their savings are safe, protected, and responsibly managed. We will continue to serve them with Tapat na Serbisyo, Mula sa Puso, and remain focused on sustaining this track record of integrity in the years ahead, she added.' The unmodified opinion from COA adds to the list of recognitions earned by Pag-IBIG Fund from governing bodies for its excellence in public service last year. In 2024, Pag-IBIG Fund was also named as one of the top-performing government firms for good governance by the Governance Commission for GOCCs (GCG). Pag-IBIG Fund also earned a satisfaction rating of 99.52% in its 2024 Client Satisfaction Measurement, in accordance with the standards set by the Anti-Red Tape Authority (ARTA) and the GCG.
