Acosta named CEO of the Pag-IBIG fund
In a letter published by Malacañang on September 19, Marilene C. Acosta has been named interim managing director of the Pag-IBIG Fund, succeeding Acmad Rizaldy P. Moti as head of the country’s leading real estate finance agency.
Acosta, a native of Narvacan, Ilocos Sur, has worked for the Pag-IBIG Fund since 1981. A Chartered Accountant (CPA) and Career Executive Service Officer (CESO) V, she has risen through the ranks since the start of her career in as an accounting clerk in the Baguio regional office of the Pag-IBIG Fund. During her tenure as Deputy Managing Director of the Pag-IBIG Fund for Home Loans from March 2017 to September 2022, the agency posted consistent records for home loans, which subsequently resulted in a record number of members buy their own house.
“I am grateful for the confidence that President Ferdinand Marcos, Jr. and our President, DHSUD Secretary Jose Rizalino Acuzar, placed in me upon my appointment to this position. I also thank outgoing CEO Moti and my colleague Lingkod Pag-IBIG for their support, as well as the Organization of Social and Economic Housing Developers in the Philippines (OSHDP), Inc. and the Subdivision and Housing Developers Association (SHDA), Inc. for their mentions. , as well as our members, developer-partners, employer-partners and stakeholders, that we at the Pag-IBIG Fund will remain committed to providing them with responsive and excellent service.My over 40 years of public service in the Pag-IBIG Funds have prepared me well for this position, and I will use everything I have learned over the past four decades to ensure that we continue to fulfill our mandates and provide Tapat na Serbisyo, Mula its Puso,” said Acos your.
The Pag-IBIG Fund’s outgoing Managing Director, Acmad Rizaldy Moti, meanwhile welcomed Acosta’s appointment. He said this would provide continuity in the agency’s direction towards sustaining and building on the many gains it has made over the past few years.
“The leadership, excellence, integrity and courage of the CEO of Acosta are among the key factors that have enabled the Pag-IBIG Fund to achieve many records and milestones, especially in the field of real estate financing. His appointment will allow for the continuity and sustainability of the efforts of the Pag-IBIG Fund to improve the lives of all Filipino workers. I really wish him and Pag-IBIG all the best,” Moti said.
Moti leaves the Pag-IBIG Fund in its strongest state, posting significant increases in key metrics from 2016 – the year before he assumed his role as CEO. In August 2022, the agency had 795.93 billion pesos in total assets, an increase of 81% compared to 439.30 billion pesos at the end of 2016; a mortgage release with a term of 100.8 billion pesos in 2021, an increase of 76% compared to the annual mortgage subscription of 57.3 billion pesos six years ago; 25.95 billion pesos saved voluntarily by members of MP2 Savings in 2021, an increase of 3,065% compared to 0.82 billion pesos saved in 2016; investable funds amounting to P92.56 billion, an increase of 49% from P62.15 billion in 2016; and, an annual net income of more than 30 billion pula for five consecutive years since 2017.
Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by allowing them to post their stories directly to the BusinessWorld website. For more information, send an e-mail to [email protected]
Join us on Viber to get more updates from BusinessWorld: https://bit.ly/3hv6bLA.