CIC remits first-ever P169.64 million dividend to gov't

The Credit Information Corp. (CIC) has remitted P169.64 million in dividends to the National Government, marking its first dividend contribution since its establishment in 2008, the Department of Finance (DOF) said.

Government Corporations and Investments Group Undersecretary Angela Ignacio said government-owned and controlled corporations (GOCCs) are expected to generate returns for the government while fulfilling their respective mandates.

“Government resources must create value for the people,” Ignacio said, citing Finance Secretary Frederick Go’s directive for GOCCs to deliver value to the public and contribute to the country’s development.

“For CIC this means strengthening the credit information system to support more efficient and informed lending, broaden access to credit, and contribute to the development of a stronger and more inclusive financial sector,” she added.

Created under Republic Act 9510, the CIC serves as the country’s central credit registry, collecting and consolidating borrowers’ credit data to help lenders make informed decisions, reduce reliance on collateral and widen access to financing.

Although the law was passed in 2008, the CIC began setting up its operations only in 2011, spending years building its workforce, procuring technology and establishing the infrastructure needed to handle data from financial institutions. It began enforcing data submission in 2015, launched its system in 2017 and made credit reports available to the public in 2019.

The DOF said the dividend remittance followed the CIC’s record revenue of P459.37 million in 2025, during which it generated more than 28 million credit reports and 38 million inquiries.

CIC President and CEO Ben Joshua A. Baltazar said the corporation’s 2025 performance demonstrated the benefits of a credit information system that enables lenders and borrowers to make more informed financial decisions.

“Through reliable credit information, we empower lenders to practice data-driven credit decisioning and accurate risk management, while enabling borrowers to gain access to greater financial opportunities,” Baltazar said.

“This creates benefits that ripple across the entire economy,” he added.

The DOF said the dividend remittance was made under Republic Act 7656, or the Dividend Law, which requires GOCCs to remit at least 50 percent of their net earnings from the preceding year to the National Government.

GOCC dividends serve as a major source of non-tax revenue used to fund government infrastructure and socioeconomic development programs.