THE HOME Development Mutual Fund or the Pag-IBIG Fund is on track to post another record-high net income this year.
“We are on track for the target net income for this year. In fact, it was announced around three weeks ago that we are also on target to achieve the dividend rates or to equate the dividend and return rates for 2024,” Pag-IBIG Fund Vice-President for Public and Member Relations Domingo C. Jacinto, Jr. said at a press conference on Thursday.
“We’re doing all we can to exceed that so we can at least match or exceed our dividend rates of 6.6% for regular savings and 7.1% for MP2 (Modified Pag-IBIG 2) Savings,” Mr. Jacinto said, referring to its voluntary savings program.
Pag-IBIG Fund is targeting a net profit of P58.50 billion this year, based on a document on its website, which would be higher than the P56.58 billion it recorded in 2024.
It posted net earnings of P28.045 billion in the first half, below the P29.505-billion goal for the period but up 15.25% year on year. This was also a record first-semester profit for the agency, it earlier said.
Mr. Jacinto said Pag-IBIG Fund will continue to expand its lending programs.
“What we would certainly like to push are our housing loan programs and our multipurpose loan programs because these are the loans that will benefit our members directly,” he told reporters.
In the first semester, it released P58.13 billion in housing loans to 37,927 beneficiaries and P42.86 billion in short-term loans to 1.64 million recipients.
Pag-IBIG Fund also expects most of its investment income to come from government securities, even as benchmark borrowing costs continue to go down, Mr. Jacinto said.
“It’s part of our support to the government, and that’s why… we’ll always prioritize government securities.”
The agency’s income from investments jumped by 51.79% year on year to P4.27 billion in the first semester, “driven by strategic placements in bonds and other debt securities, money market instruments, equities, and investment properties,” it earlier said.
Investment income made up 5.56% of its gross income in the period.
Pag-IBIG Fund’s total assets stood at P1.14 trillion at end-June, up 7.02% from P1.07 trillion at end-2024. — A.M.C. Sy
