Fee-based income posted an even higher growth of 34.8% from ₱82.42 million to ₱111.13 million.
The growing commitment and support of members, FICCO’s continuing innovation of products and services, and the development of appropriate policies guarantee financial growth and sustainability of our coop.
The very positive results for loans and fee-based income were however tempered by the losses in our equity investments as well as the reduction in other income.
The remarkable credit operations, with current loan portfolio posting a 21.7% increase, is reinforced by the further decline of past due rate to 8.38%, the lowest in over a decade, from last years 9.89%. FICCO’s effort of hitting the loan portfolio target at the same time lowering the past due rate are no easy tasks. But again, with the support of members who availed of loans and paying them on time, coupled by diligent underwriting and collection efforts, a robust lending operation is possible.
It is expected that fee-based operations will continue its momentum in the years to come.