CIC makes 1st dividend remittance of P170 million
The Credit Information Corp. (CIC) made its first dividend remittance to the national government since its establishment in 2008, amounting to P169.64 million after posting record-high revenue last year, the Department of Finance (DOF) said.
The Credit Information Corp. (CIC) disbursed its initial dividend to the national government, totaling P169.64 million, following a year marked by record-breaking revenue. In 2025, CIC's revenue reached P459.37 million, a staggering 91.6 percent increase from the previous year's P239.76 million. This financial success was accompanied by the issuance of more than 28 million credit reports and a total of 38 million credit report inquiries.
CIC President and CEO Ben Joshua Baltazar emphasized the transformative impact of a dependable and inclusive credit information system, stating that it empowers lenders to make data-driven decisions and manage risks effectively, while also facilitating borrowers' access to financial opportunities. The CIC, established under Republic Act 9510, is tasked with receiving and consolidating credit data, functioning as a central repository, and providing access to reliable credit information.
Finance Undersecretary Ma. Angela Ignacio highlighted the DOF's expectation for all government-owned corporations (GOCCs) to fulfill their mandates and contribute to the nation's development. Under Republic Act 7656, known as the Dividend Law, GOCCs are legally obligated to remit at least half of their net earnings from the previous year as dividends to the national government.
Written by urgent.news from Philippine Star Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.