HOME Development Mutual Fund or Pag-ibig Fund reported that it saw its net earnings grow 14 percent in the first half of 2021 despite the challenges posed by the continuing health crisis.
Meanwhile, the fund’s gross earnings reached P27.14 billion, up 13 percent from a year earlier, driven mainly by earnings from its housing and short-term loans or cash loans, and trading gains.
“We are happy to report that the Pag-ibig Fund remains strong amid the pandemic. The double-digit increase in our income figures proves that we remain as one of the best performing government corporations in the country today,” Housing Secretary Eduardo del Rosario, chief of the Department of Human Settlements and Urban Development (DHSUD) and chairman of the 11-member Pag-ibig Fund Board of Trustees, said in a statement.
“This places us in a strong position to continue providing social services to more Filipino workers, in line with President Duterte’s directives as we continue to recover from the challenges caused by the pandemic,” he added.
Del Rosario added that as of July, Pag-ibig Fund has released P52.22 billion to finance the acquisition of 51,206 homes for its members. (PR)