Buoyed by the strong collection of home loan payments in the last nine months, Pag-IBIG Fund’s performing loans ratio climbed to an all-time high, its top executives said.
The agency collected P38.56 billion from January to September, up 12 percent or P4.17 billion year-on-year. The amount is also a record high in terms of home loan payments collected by the agency for any January-to-September period.
“Collections remain robust as we sustained our momentum from 2018, which is our best year yet. We still have another quarter to go before this year ends but we are confident that 2019 will be another banner year because we continue to grow at a double-digit pace,” said Secretary Eduardo del Rosario, who heads both the Housing and Urban Development Coordinating Council and the 12-member Pag-IBIG Fund board of trustees.
“In the third quarter alone, home loan payments grew 20 percent year-on-year to P13.98 billion. Strong collections not only reinforce Pag-IBIG Fund’s financial sustainability, but also benefits our members because the amount we collect are then plowed back to our housing portfolio so that more members can avail of affordable home loans from Pag-IBIG Fund,” he added.