MANILA, PHILIPPINES – 16 May 2018 – Establishment of Credit Information Corporation (CIC) made known as one of the factors for the upgrading of Banking Industry Country Risk Assessment (BICRA) of Philippines from Group '7' to Group '6'.
The Philippine Banking Sector has reached the Group '6' category from previously Group '7' in the recent BICRA assessment of Standard and Poor’s (S&P) due to the improvement of credit fundamentals, citing CIC for its perseverance to further strengthen the consumer loan practices in the Philippines.
MAKATI CITY – April 5, 2018 – CIC relate opportunities of cooperatives on access to credit data on the two-day compliance forum on BIR, DOLE, DTI, CISA and CDA for Cooperatives at Best Western Oxford Suites, Makati City.
Attended by 60 individuals representing micro, small, medium and large cooperatives, CIC Senior Vice President for Business and Development Group, Atty. Aileen L. Amor-Bautista, highlighted how vital for medium and large cooperatives to comply with the Credit Information System Act or CISA (R.A. 9510).
The Credit Information Corporation is inviting you to join its 2019 Calendar Photography Contest!
As an adjunct to its mandate of being the country’s centralized and comprehensive credit information registry, the Credit Information Corporation (CIC) is also tasked to spread the significance of financial literacy to the general public and propound on the importance of the collection and access of credit information.
The Credit Information Corporation (CIC) would like to invite employees of its Submitting Entities, i.e., banks, financing companies, insurance companies, mutual benefit associations, credit card companies, micro-financing companies and government lending institutions to join the CIC’s first-ever Photography Contest, which revolves around the theme “Getting Ready for Credit”.
Winning entries not only get a chance to win cash prizes, but will also have their work featured in the CIC’s 2019 calendar.
The Credit Information Corporation (CIC), together with the Bangko Sentral ng Pilipinas (BSP), the Securities and Exchange Commission (SEC) and other government and private institutions, lent its support to the recently concluded “Kasama Ka program” Community Builders launch held at the BSP Assembly Hall last September 6, 2017. The Kasama Ka program is a digital referral system where members are rewarded for successful referrals that lead to the use of the many digital financial services offered by Lendr.com.ph which include loans, insurance, investment, savings and lay-away products.
Both lender and borrower alike must get ready for the data-driven process of giving and receiving credit using the CIC’s Credit Information System (CIS) if lenders are to lend more, lend to more and lend more safely while borrowers improve their access to credit. This was the point stressed by Credit Information Corporation (CIC) President and CEO Jaime P. Garchitorena during the CIC’s technical compliance workshop revolving around the theme “CIC Technical Compliance Workshop: Expanding the Reach” held at the I’M Hotel in Makati City last August 30, 2017.
As part of its continuing campaign entitled “Getting Ready For Credit”, the Credit Information Corporation (CIC) held a two-day technical compliance workshop for Submitting Entities (SEs) such as cooperatives, rural banks, and financing companies. Called “Progressing to Credit Data Production,” the two-day event was designed to capacitate SEs with the knowledge and the skills to submit data successfully to the CIC in compliance with Republic Act 9510, the Credit Information Systems Act (CISA).
Credit Information Corporation (CIC) President and CEO Jaime P. Garchitorena dispelled rumors concerning any temporary restraining order (TRO) issued against the CIC that puts on hold the requirement for cooperatives to submit the credit data of their member-borrowers to the CIC.
In an official statement released over the weekend, Mr. Garchitorena firmly stated that any news about such a TRO is another case of fake news.
Credit Information Corporation (CIC) President and CEO Jaime Garchitorena was the first guest speaker on Day One of the 2017 Real Estate Expo Manila held in SMX Convention Center in Pasay City.
Speaking before a crowd of real industry experts and professionals early Thursday morning, August 10, 2017, Mr. Garchitorena enumerated the benefits of having a credit information system. The local real estate sector is currently experiencing a boom in demand for both residential and commercial property.
The Credit Information Corporation (CIC) continues to hold technical training workshops in order to assist submitting entities into coming on-board its credit information system.
Just recently, the CIC held a two-day technical training workshop for submitting entities that are currently in the Testing Phase of CIC’s credit information system. The event took place last July 14 and 21 at I’M Hotel in Makati City and was organized in coordination with the United States Agency for International Development (USAID).