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March 25, 2010

Pag-IBIG Southern Mindanao releases P5.9B for salary, housing loans in 2009

DAVAO CITY, Feb. 10 (PNA) — A total of P5.9 billion was availed of by a good number of Pag-IBIG Fund members of Southern Mindanao in 2009.

Pag-IBIG Fund vice president for Southern Mindanao operations Jose W. Banzon, Jr. reported that both the multi-purpose loan (MPL) and housing loan registered double-digit percentage increases.

For the MPL alone, he said almost half of the Pag-IBIG members in their area availed of this type of loan, accounting to P3.398 billion by some 208,291 borrowers or an increase of 20.91 percent as against 2008 with only P3.001 billion with 198,303 who borrowed.

The multi-purpose loan is among the sought after services in the Davao branch, which receives 400 applications daily. With all requirements met processing is done within the day.

“Traffic is heavy during the months of May and October as most of the borrowers use the proceeds of their loan for enrollment purposes of their children,” Banzon said.

Meanwhile, Banzon said as to housing loans they were avail to release P2.361 billion to some 5,270 borrowers as against the P1.935 billion in 2008 availed of by 4,825 loan takers.

He said with regards to loan value, it generated about 21.98 percent for the year in review while number of takers registered an increase of 9.22 percent.

More than half of the borrowers were from Davao of about 2,868 and valued at P1.451 billion followed by General Santos with P494.9 million of 1,108 borrower, Tagum (Davao del Norte) with P294 million and 931 borrowers and Cotabato, P120.4 million by 363, he said.

The average loan value for last year was pegged at P448,077 in 2009 and P401,206 in 2008. Its housing loan collection in 2009 was at P1.239 billion or an increase of 19.03 percent compared to 2008 with P1.041 billion.

Banzon also reported that active membership level in Southern Mindanao as of last year totaled 484,302 compared to 2008 with only 469,020 or an increase of 3.26 percent.

Among the operating units within the Southern Mindanao Group (SMG), he said the Davao branch still has the most number of members with 204,045 in 2009 compared to 197,401 in 2008 or a 3.37 percent increase and followed by General Santos with 105,911 or an increase of 3.27 percent against the 2008 figure of 102,556.

He said Tagum had 89,974 members as of last year and registered an increase of 5.45 percent as against 85,325 the previous year while Cotabato had 84,372 members or a .76 percent increase from the previous year with only 83,738 members.

With regards members contribution almost half of the pie was contributed by the Davao branch with P509.3 million in 2009 compared to P473.5 million in 2008 or an increase of 7.54 percent. Half of Davao’s contribution was shared by General Santos with P256.8 million last year or an increase of 8.57 percent against 2008’s figure of P236.6 million. Tagum branch delivered a big increase with 22.16 percent or P240.1 million compared to its 2008 contribution of only P196.5 million. Cotabato had 241.9 million in 2008 which lower by -9.04 percent compared to that in 2008 with P265.9 million.

Total member’s contributions of SMG accounted to P1.248 billion or 6.44 percent increase compared to the 2008 total contributions of P1.172 billion.

The developer’s loan release posted an increase of 70.74 percent in 2009 with P247.980 million as against the 2008 figure of P145.236 million.

Of the operating branches, he said Davao registered 112.84 percent increase in 2009 with P178.143 million as against the P83.700 million in 2008, General Santos posted a decrease of -14.98 percent with P48.637 million last year compared to P57.207 million the previous year while Cotabato had P21.200 million in 2009 or a 389.72 percent against P4.329 million in 2008.

As to developers’ loans collections, the Group noted an increase of 51.68 percent with P229.562 million last year as against the previous year with only P151.342 million.

As to its financial highlights, Banzon said the SMG registered a gross income of P1.293 billion with net income of P1.002 billion or a percentage change on net income of 43.26 percent with that of 2008 with only P699.565 million.

Banzon attributed the positive performance to the increasing number of workers covered by the Fund and the number of members who availed of their line of services plus the lowering of interest rates applied to housing loans.

He also said some of the areas covered by SMG had become growth areas and noted that proceeds availed of by members through the multi-purpose loans were plowed back to the economy as more money were in circulation within the area while housing carries multiplier effect of 16 times as it opens also several economic activities. (PNA)
LAP/Prix Digna D. Banzon/lvp


Pag-IBIG SouthMin posts collection growth

November 15, 2008

media

In photo with Mr. Banzon were editors and reporters from Business World, Philippine Daily Inquirer, Philippine Information Agency, Philippine News Agency, Mindanao Daily Mirror, Mindanao Times, SunStar Davao and The Edge

Pag-IBIG Fund of the Southern Mindanao Group has posted a P4.486 billion collections for the first nine months in 2008.

Vice President Jose W. Banzon, Jr. of Pag-IBIG Fund Southern Mindanao Group in an interview by Davao business reporters at Pryce Tower in Davao City said the Short-term Loan (STL) is biggest of the four anchor programs with P2.343 billion.

He said of the other three programs, members’ contribution followed next with P882.6 million, housing loan at P868.7 million and acquired assets collections at P391.7 million.

Based on annualized collections, he said the Southern Mindanao Group would generate about P5.982 billion as against the target of P5.556 billion, an increase of 10.48 percent.

Banzon also said that from among the four branches of the Group, the Davao branch tops the list with total collections generated within the period in review of P1.869 billion. The General Santos City branch ranks second with P923.623 million, Tagum, P866.030 million and the Cotabato branch with P827.16 million.

Also of the four major programs he mentioned that the Short-term Loan Availment is the most sought after services being accessed by Pag-IBIG members.

He said their total exposure of P2.538 billion is accessed by 168,110 members.

“This program is top gainer because they were able to institutionalize the fast phase of processing of loans,” he said.

“Fund members are interested on this because they find it very convenient. Within a day or two, borrowers can already have their loans processed,” he said.

Based on annualized figure this year, he said their total loan amount is at P3.384 billion that will be accessed by 224,147 members.

He said figures would show that 36 percent of the Pag-IBIG Fund members availed of the STL, a figure that only the Fund from among other similar institute could deliver.

The Southern Mindanao Group is expected to give out total STL loan for 2008 of P2.637 billion to about 166,974.

Current figure showed that the Group will hit towards end of 2008 128.30 percent of the loanable amount and about 134.24 percent increase of the Fund’s borrowers.

Banzon also said that the Southern Mindanao Group has a total of 472,638 active members as of September 2008 as against this year’s target of 465,696 registering an increase of 101.49 percent.

The Davao branch accounted to 196,259, Tagum, 88,452, General Santos, 103,523 and Cotabato 84,404.


Watch this …

October 8, 2008

Housing Fair slated  this October … details will be posted as soon as I have them.  Checkon this from time to time. Thanks !


Today’s report from Cotabato City …

October 7, 2008

(Thanks Pag-IBIG Cotabato Manager Noli Armada for sending me this report and thanks too to tom mendoza for forwarding this to me which I am sharing to you)

Pag-IBIG FUND EXTENDS THE IMPLEMENTATION OF

“Magaang Pabahay, Disenteng Buhay” Program


To address the persistent clamor of its members, Pag-IBIG Fund issued Circular No. 241, extending the implementation of “Magaang Pabahay, Disenteng Buhay” Program. This aims to provide the Fund members the opportunity to acquire decent and affordable housing for their families.

All Acquired Assets of Pag-IBIG Fund including occupied units will be open for sale to the public on a first come, first serve basis. Cash buyers will be given 20% discount and 15% discount for purchases made through Pag-IBIG Fund Housing Loan. An additional 5% litigation discount (if applicable) is also given. Loan interest up to Php 2 Million is 6%, if loan payment is made on or before due date, 8% if loan payment was made after due date.

Amortization is as low as Php 1,799.00 per month (exclusive of insurances) for a Php 300,000.00 loan payable in 30 years. The program is on the 3rd year promotional period, which started sometime last October 26, 2006.

All those interested to avail of this program are advised to call and visit LCMRD-Acquired Assets Unit, 6/F CYM Building, Don Rufino Alonzo Avenue, Cotabato City Tel. No. (064)-421-69-46 look for Nila or Lilian (Kidapawan Service Center-Tel No. (064)-288-54-70) for more details.(TMM-LCMRD Cotabato Branch) email address: faa_cotabato@yahoo.com


Please Check this … the acquired assets – FIRST COME , FIRST SERVED BASIS !

October 1, 2008

Application Procedure for

“Magaang Pabahay, Disenteng Buhay Program”

  1. Check on the list of the Fund’s available acquired assets for sale
  2. Secure, accomplish and submit two (2) copies of Reservation Form
  3. Receive duplicate copy of the Reservation Form duly signed by the Fund’s authorized representative. You will be given a priority number and take note of that priority number.
  4. Confirm your offer to purchase and pay the 5 percent downpayment within 5 days from date of reservation. Otherwise, the reservation shall be cancelled.
  5. The remaining 95 percent shall be paid either thru cash or Pag-IBIG Housing Loan.

Documentary requirements for purchase made through Pag-IBIG Housing Loan

  1. Housing Loan Processing Fee of P3,000.00
  2. Income Tax Return/ W2
  3. Certificate of Employment & Compensation (duly notarized)
  4. Latest (1) month Payslip (duly certified by the employer)
  5. Audited Financial Statement for Self-employed
  6. Latest Employment Contract for OFWs
  7. Photocopy of TIN Card & Cedula
  8. Member’s Status Verification Slip (MSVS)

About 5,000 Pag-IBIG Acquired Housing Units are up for sale of discounted rates from 15 percent to 25 percent discount.

Could be availed through

Cash Sale or

Housing Loan

> 6 percent interest rate > 30 years loan term

> 5 percent downpayment of discounted selling price

Location – > Davao City, Tagum City, Samal City, Panabo City, General Santos City

Koronadal City, Cotabato City, Kidapawan City, Tacurong City

Ø Compostela Valley Province, Davao del Norte, Davao Oriental,

Ø Davao del Sur, South Cotabato, Sarangani, North Cotabato,

Ø Maguindanao, Sultan Kudarat

For those of you who are interested please visit or call the following

Acquired Assets Unit of Pag-IBIG Fund

DAVAO CITY

2F Pryce Tower Condominium

JP Laurel Avenue, Davao City

Tel. No. (082) 224-4733

TAGUM BRANCH

2F Ramos Bldg.,

Arellano St., Tagum City

Tel. No. (084) 400-4698

GENERAL SANTOS BRANCH

2F RD Bldg.

Santiago Blvd., General Santos City

Tel. No (083) 552-7632

COTABATO BRANCH

6F CYM Bldg.

Don Rufino Alonzo St., Cotabato City

Tel. No. (064) 421-6946


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