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Manila Bulletin devider Business devider Pag-IBIG Fund reports record-high housing loan releases

Pag-IBIG Fund reports record-high housing loan releases

For first quarter 2024

Published May 20, 2024 07:59 am

Pag-IBIG Fund’s home loan releases in the first quarter of 2024 reached P28.09 billion—the highest amount released by the agency for any January to March period in its history, its top officials announced during the North Luzon leg of the Stakeholders Accomplishment Report (StAR) last May 10.

From January to March, the amount of home loans released by the agency increased by P520.81 million compared to the P27.57 billion home loans released during the same period in 2023. The amount released for the first three months of the year enabled 19,817 members to acquire their own homes. 

“Pag-IBIG Fund’s performance for the first quarter of 2024 now stands as the highest in our history. This means that Pag-IBIG Fund continues to serve more Filipino workers over the years, enabling their members to have homes that they can call their own. This is in line with the government’s efforts of resolving the housing backlog and providing a better quality of life for Filipinos,” said Secretary Jose Rizalino L. Acuzar, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees. 

Pag-IBIG Chief Executive Officer Marilene C. Acosta led Pag-IBIG Fund in conducting its semi-annual stakeholder engagement events held in key regions to update members, employers, and partner-developers, regarding the state of the Fund. Aside from first-quarter accomplishments, Acosta also reported that the agency has achieved another banner year in 2023, releasing P126.04 billion pesos in shelter financing – a seven percent jump from the P117.85 billion it financed in 2022. 

“We thank our stakeholders, namely the business community, for the timely remittance of their employees’ monthly savings and loan payments, our partner developers in building and delivering quality housing projects and accounts, our members who continue to save with us and choose our loan programs, and our borrowers for their prompt payment on their loan obligations. Their trust and support have always been instrumental in sustaining our growth and record-high achievements, and more importantly, in furthering our goal of providing access to affordable homeownership to more Filipino workers,” Acosta added. 

The Pag-IBIG stakeholder engagement sessions kicked off in NCR at the SMX Convention Center last April 16 and has since been held in Davao City for the Mindanao leg, Cebu City for the Visayas leg, and Alabang for South Luzon. The North Luzon leg held in Clark, Pampanga is the last of the stakeholder engagement series for the first semester. This semi-annual event was attended by more than 2,000 stakeholders nationwide 

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