More borrowers from lending and financing companies are being loaded into the database of Credit Information Corp. as the sector topped the most recent list of CIC’s financial institutions that are already submitting live or actual credit data of their borrowers.
The state-run repository of credit information published the list of 23 additional financial institutions consisting of 11 lending and financing companies, seven cooperatives and five rural banks, bringing the total to 557.
The list includes Grab Financial Services Philippines and Hewlett Packard Financial Services (Philippines) Corp.
“We are grateful to these financial institutions because despite and amid the pandemic, they still strived to comply with the law. The addition of this new set of submitting entities in production is expected to further expand the already growing database of the CIC,” said Aileen Amor-Bautista, senior vice president for business development and communications.