During the Shareholders’ Meeting, the Guarantee Fund (FGA) announced that it has managed 22 billion pesos in guarantees over 25 years, supporting more than four million Colombians with credit access.
FGA’s offerings, a core driver of the company’s recent strategic focus, generated 308,181 million pesos in revenue for the year, marking a 64.2% rise from the prior period. This growth helped the organization record total revenue of 342,868 million pesos in 2021, up 54% from 2020’s 222,584 million pesos.
Additionally, the company closed 2021 with total assets of 359,779 million pesos, a 51.9% increase versus the previous year. Equity also grew by 25.1% compared with 2020 to reach 142,558 million pesos.
“We support Colombians through the Guarantee Fund so they can move forward. We have been doing this for 25 years, guaranteeing nearly 22 billion pesos in consumer loans to more than four million Colombians. Today, we share these solid results, which support the country’s recovery and Colombians’ decisions to improve, despite global and local uncertainties in health, economic, and social conditions,” stated David Bocanument, head of the Guarantee Fund.
The year’s results allowed the company to finish with net income of 29,980 million pesos, a 31.6% rise from 2020’s 22,873 million. It is noted that the General Assembly decided that 95.6% of profits would be reinvested to strengthen assets and extend support to more people across the country.
For the current year, FGA projects operations totaling 5.4 billion pesos, aiming to expand access to credit for more than 1.5 million Colombians nationwide.