Home Development Mutual Fund, which trades under the brand Pag-IBIG, said it released P58.52 billion worth of home loans in the eight months to August.
In a statement Friday, Pag-IBIG said home loans for the first eight months rose 96% from a year earlier, and went out to 57,235 members.
Pag-IBIG said members’ savings under the voluntary Modified Pag-IBIG 2 (MP2) Savings program amounted to P17.73 billion.
Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti expects improved results as the vaccine rollout progresses.
“Even with the ongoing pandemic, the amount of home loans released and MP2 Savings collections from January to August 2021 are not only record highs but are higher than what we achieved during the same period in 2019, prior to the pandemic,” Mr. Moti said.
“The continued trust of our members and stakeholders gives us the confidence that we shall achieve another best year in fulfilling our mandates. In return, we shall remain as their reliable partner by providing programs that address their needs, especially during this health crisis,” he added. – Revin Mikhael D. Ochave