The Home Development Mutual Fund (Pag-IBIG Fund) is optimistic that its net profit this year could still reach as high as P28 billion despite the negative impact of the coronavirus disease 2019 (Covid-19) pandemic on its operations. Despite this, Moti said Pag-IBIG Fund was still looking at posting P25 billion to P28 billion in net income this year. “Based on stress tests that we’ve conducted in September, the P25-28-billion net income will be much better than originally projected. Pag-IBIG Fund also believes that the country has managed to come up with measures to live with the coronavirus, which could lead to more economic activities. In 2019, collections from MP2 Savings surged by 169 percent to P12.01 billion from P4.47 billion in 2018.

Source: Manila Times November 28, 2020 16:41 UTC