Pag-IBIG Posts Record Loan Releases; 21,870 Members Benefit

The Pag-IBIG Fund released P27.57 billion in home loans during the first quarter, officials said on Monday, 14% higher compared to the P3.36 billion recorded a year earlier.

Photo Insert: The agency released a record P117.85 billion in home loans last year and also surpassed the P1-trillion level in total home loan releases.

"We are happy to report that we have started the year strong by posting a new record high in home loan releases for the first three months of 2023," Pag-IBIG Fund Board of Trustees Chairman Jose Rizalino Acuzar said in a statement.

This allowed 21,870 members to acquire their own homes, he said, adding that 2,968 or 14 percent came from the minimum-wage and low-income sectors who were able to secure a total of P1.26 billion in socialized home loans.

Pag-IBIG Fund CEO, Marilene Acosta, meanwhile, said the first quarter result showed that record gains made last year were being sustained.

The agency released a record P117.85 billion in home loans last year and also surpassed the P1-trillion level in total home loan releases.

"After coming off our best-performing year in 2022, we have yet again set another record-high in housing loan takeout for the first quarter of 2023," Acosta said. The numbers, she added, "reflect the increasing number of Filipino workers we have enabled to gain new or better homes."

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