Economy · August 6, 2022

Pag-IBIG members save P38.8B in H1 of ’22

STATE-RUN Home Development Mutual Fund (Pag-IBIG Fund) members collectively saved £ 38.82 billion in the first six months of 2022, the highest amount recorded in a semester.

In a statement, the Pag-IBIG Fund said that the total savings of its members for the January-June period was an increase of P7.23 billion, or 23 percent, compared to P31.59 billion collected in the same period of the year. Last year.

“I am delighted to note the excellent performance of the Pag-IBIG Fund in its members’ savings collections. Our strong collections mean we have funds to fund our programs and continue to provide affordable home and cash loans to customers. our members. This is our contribution to President Ferdinand R. Marcos Jr.’s call to resolve the country’s real estate backlog and provide a better life for Filipinos, “said Secretary Jose Rizalino Acuzar, who heads the Department of human settlements and urban development and the board of directors of the Pag-IBIG Fund of 11 trustees.

Driving double-digit growth is the continued popularity of the agency’s modified Pag-IBIG 2 (MP2) voluntary savings. MP2’s savings amounted to a record £ 19.40 billion in the first half of the year, up 47% from £ 13.23 billion raised in the same period last year.

The CEO of the Pag-IBIG Fund, Acmad Rizaldy Moti, attributed the agency’s record takings to the trust of the members who prefer to save with the Pag-IBIG Fund and to the support of the business community for the correct and timely remittances of their employees ‘Pag-IBIG savings.

“The continued growth of our members ‘savings is truly remarkable. We are grateful to the business community for responsibly paying their employees’ Pag-IBIG contributions on time and to our members for their continued confidence in saving with Pag-IBIG, in particular in MP2 Savings. Should the upward trend of our collections hold up, we expect another record in terms of total member savings by the end of the year, “said Moti.

“Above all, with our strong fiscal position, we are confident that we can continue to finance the growing demand for loans by keeping interest rates low. This is one of our ways to bring ‘Tapat na Serbisyo, Mula sa Puso’ into our members.” , he added.