THE Home Development Mutual Fund (Pag-IBIG Fund), said net profit rose 23.51% to P63.226 billion in the first nine months, citing seasonal factors.
“Usually the second half is a robust period for our housing loan takeouts and we also have record short-term loans,” Benjamin R. Felix, Jr.; Pag-IBIG Fund’s Operations Cluster deputy chief executive, told reporters late Wednesday.
For the rest of the year, Mr. Felix said Pag-IBIG expects to meet its targets, despite an expected slowdown in short-term loan takeouts in November and December.
“We are very hopeful that we will be meeting our target net income, driven by… housing loan takeouts, short-term loans, and acquired assets,” he said.
At the end of September, Pag-IBIG Fund released P111.29 billion worth of housing loans and P88.64 billion worth of short-term loans.
“We do hope to achieve our target of more than P165 billion for housing loan takeout. And our short-term loans, around P120 billion,” Mr. Felix said.
Takeout refers to the fund’s assumption of mortgages originated by developers, making their home buyers Pag-IBIG customers.
At the end of August, Pag-IBIG Fund’s assets stood at P1.338 trillion.
Mr. Felix said savings under the Modified Pag-IBIG II (MP2) program have been growing as more Filipinos defer big-ticket purchases and choose to save instead.
The MP2 savings program posted a 7.12% return in 2025, higher than the 6.62% dividend rate for regular savings, according to data presented by Pag-IBIG Fund.
Asked about the outlook for MP2 dividend rates in 2027, Mr. Felix said he expects them to remain favorable. — Justine Irish D. Tabile