During the General Assembly Meeting, National Guarantee Fund (FNG)The company’s $105,310 million in profits has been approved to be reinvested in 2021, aiming to strengthen the equity of the business to continue guarantees as operating support.
“The profit recorded in 2021 has reached the highest reported value in the last ten years. By reinvesting 100% of these resources, the organization’s equity is strengthened, FNG solvency levels are maintained and prepared to deal with the stressful situations in the risk cycle, for which it will empower MSMEs and it will have more capacity to continue supporting entrepreneurs, providing their guarantees and thus facilitating their access to credit”, assured Raúl Buitrago Arias, head of FNG.
On the other hand, the Ministry of Finance announced its intention to transfer its stake in FNG to the Bicentennial Group to continue its strategy of centralizing state ownership in financial institutions.
In total, there were 204.48 million shares in the portfolio, which gave the 42% stake and would go to the Bicentennial Group. Once the contribution is formalized, the company will hold 97% of the FNG titles.
It is worth noting that FNG has already reached a guarantee of $2.6 trillion in 2022, thus meeting 17.3 percent of the mobilization target of $15 trillion for this year so far. With these resources, it has benefited 64,393 companies in the country.
“We continue to move forward in our goal of continuing to support the country’s business people during this consolidation phase of reactivation,” said FNG President Raúl Buitrago Arias. said.
Breaking down the figures by region, Bogota, Antioquia and Valle del Cauca are the countries with the most resource mobilization, and in fact, they account for 58.7% of the total guarantees this year, with $861,000 million, $432,000 million. and $234,000 million, respectively.
Source: Lare Publica
