STATE-RUN Philippine Guarantee Corp. (PhilGuarantee) recorded double-digit growth in credit guarantee support to marginalized groups last year, data from the Department of Finance (DoF) showed.
STATE-RUN Philippine Guarantee Corp. recorded double-digit growth in credit guarantee support to marginalized groups last year, data from the Department of Finance showed.Finance Secretary Ralph Recto, who also serves as the firm's chairman, reported that PhilGuarantee posted a 28.82-percent guarantee portfolio increase to P236.98 billion in 2023.'This robust performance is a testament to our country's strong credit guarantee system.
Moreover, the corporation's partner lending institutions increased to 152 in 2023 from 131 in 2022, 'demonstrating stronger capital mobilization through the efficient use of guarantee facilities.'PhilGuarantee's financial performance remained robust, recording total revenue of P5.32 billion last year, representing a 103 percent increase from the previous year.
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