PAG-IBIG POSTS P31.18B NET INCOME IN 2020; MEMBERS EARN  5.62% DIVIDEND RATE ON REGULAR SAV-INGS, 6.12% ON MP2

PILIPINO Mirror
Eduardo del Rosario

Pag-IBIG Fund posted a net income of over P30 billion in 2020 for the fourth consecutive year  despite the economic slowdown caused by the pandemic, its top executives announced during  the 2020 Pag-IBIG Fund Chairman’s Report held online Wednesday (March 03).

“I’m happy to report that our net income reached P31.18 billion last year, marking the fourth  consecutive year that Pag-IBIG Fund’s net income surpassed the P30-billion mark. Pag-IBIG  Fund’s strong showing despite the pandemic is a testament of how well the Filipino workers’

fund is managed. And, as we continue to support the call of President Rodrigo Duterte for  government agencies to provide more social benefits to more Filipinos, we are giving back  P29.40 billion, around 94% of our net income, to members in the form of dividends,” said  Secretary Eduardo D. del Rosario who heads the Department of Human Settlements and  Urban Development and the 11-member Pag-IBIG Fund Board of Trustees.

Under Pag-IBIG Fund’s charter, the agency is required to declare at least 70% of its annual  net income as dividends which shall be credited proportionately to its members’ savings.  However, the Pag-IBIG Fund Board approved to declare 93.68% of its earnings – more than  what its charter requires and the highest in the agency’s history– to extend the most benefit  to its members especially during these difficult times, del Rosario added.

With this move by its board, del Rosario also stated that members will enjoy a higher-than expected return on their Pag-IBIG savings. He said that the year 2020 dividend rate for the  Pag-IBIG Regular Savings shall be at 5.62%, while the Modified Pag-IBIG 2 (MP2) Savings  shall be at 6.12%.

“Again, we have achieved yet another ‘highest ever’ in 2020. With dividends payout set at  93.68% of our P31.38 billion net income exclusive of net foreign exchange loss, it’s the  highest dividend payout ratio in Pag-IBIG’s history. It’s also the highest dividend payout ratio  our Pag-IBIG Fund Board can declare while still maintaining our target Capital Adequacy  Ratio. Considering the challenges that we faced last year, achieving over P31 billion in net  income is an achievement in itself. With such earnings and the dividend approval by our  Board, we are extending the most benefit to our members without risking the strong financial  standing of the Fund, especially during these difficult times,” said Pag-IBIG Fund Chief  Executive Officer Acmad Rizaldy P. Moti.

According to Moti, Pag-IBIG Fund maintains a Capital Adequacy Ratio (CAR) of 15%, which is  higher than the 10% threshold set by the Bangko Sentral ng Pilipinas (BSP) for the banking  industry. Even if Pag-IBIG is not regulated by the BSP, Moti said that the agency voluntarily  maintains a high CAR which includes a buffer to account for current economic challenges, to  protect the funds of its members and to maintain the agency’s financial stability.

He also thanked borrowers who continued to pay their loans last year, despite the economic  slowdown. In 2020, home loan payments reached P46.65 billion, while cash loan payments  totaled P56.17 billion enabling the agency maintain its strong fiscal position.

“We would like to thank our borrowers for continuously honoring their loan obligations  despite the pandemic. The strong financial standing of Pag-IBIG is a good sign because this  allows us to continue funding our members’ home loans and cash loans, especially now when  these are needed the most. By fulfilling their obligations, they are helping Pag-IBIG Fund  bring needed service to other members, while continuing to stimulate the housing industry  and the economy. As we brave the months ahead, we assure our members and stakeholders  that we will remain a reliable institution that they can count on, which is what we have been  doing every year in the last 40 years,” Moti added.

Related posts:

Pag-IBIG FUNDPAG-IBIG EARNS RECORD 6TH STRAIGHT UNQUALIFIED OPINION FROM COA Pag-IBIG FUNDRECORD-BREAKING ACCOMPLISHMENTS NG PAG-IBIG SA 2018 Pag-IBIG FUNDPag-IBIG SALARY STEP INCREMENTS ABOVE BOARD Cash Loan(To 37,901 members during ECQ) PAG-IBIG FUND APPROVES CASH LOANS WORTH P716-M Pag-IBIG Fund-9PAG-IBIG FUND GRANTS GRACE PERIOD TO ALMOST 4.8-M BORROWERS AMID QUARANTINE PAG-IBIG FUND-5PAG-IBIG FUND EXTENDS REMITTANCE DEADLINE FOR EMPLOYERS TO JUNE 30 PAG-IBIG FUND-5PAG-IBIG FUND EARNS P22.8 B IN H1 2020 Eduardo del RosarioPAG-IBIG LOAN POLICIES SET TO HELP BORROWERS KEEP HOMES AMID PANDEMIC

66 thoughts on “PAG-IBIG POSTS P31.18B NET INCOME IN 2020; MEMBERS EARN  5.62% DIVIDEND RATE ON REGULAR SAV-INGS, 6.12% ON MP2”

  35. Pingback: 1keeping

  62. За да играеш, трябва да се регистрираш, естествено. Ако богатият избор от маси за блекджек не те изкушава, то със сигурност щедрото удвояване на първоначалният ти депозит ще те изкуши! Важен елемент от бонуса е да се запознаете със малките букви на бонусите, не всичко е толкова розово както изглежда. Казино-Игри.онлайн Говорейки за блекджек, няма как да споменем и един от най-големите плюсове на тази игра, а именно – т.нар. предимство на казиното (house edge). Блекджек има една от най-ниските стойности в този аспект – едва 1% или дори по-малко. Това означава, че тук имате по-голям шанс да сте победител, сравнено с други казино игри. https://knoxnhxn532097.mpeblog.com/36256423/виртуално-Бакара 40 Супер Хот е практически идентична игра с предходно споменатата, но с една основна разлика – линиите за игра са 40 на брой. Това дава допълнителни възможности пред потребителите, макар и те да получават сходно усещане, играейки. Джакпотът на Super Hot slot 20 е изненадващ и няма как да се предизвика. 14.03.2021 20:15 Най-малкият залог е 20 – по 1 на линия. Уайлд символът може да замени всеки един липсващ елемент за печеливша комбинация, но с изключение на скатера. В същото време скатерът може да ви донесе впечатляваща награда, ако успеете да наредите пет от него в линия.

  64. Some trends of drugs. safe and effective drugs are available.
    stromectol tab 3mg
    Prescription Drug Information, Interactions & Side. Learn about the side effects, dosages, and interactions.

Comments are closed.