PASAY CITY, 24 April 2026 – The Credit Information Corporation (CIC) underscored the increasing adoption and relevance of credit reports among lenders during the 44th National Credit Congress held on 24 April 2026 in Pasay City.

In his remarks, President and CEO (PCEO) Ben Joshua A. Baltazar emphasized the vital role of CIC in the financial system by providing reliable and comprehensive credit information. This improves lenders’ portfolio quality and supports broader access to formal credit for Filipinos.

“The increasing use and demand for credit reports indicates lenders’ growing trust and confidence in CIC data. These reports enable them to make faster, more informed risk-based decisions, while supporting greater financial inclusion,” PCEO Baltazar said.

He reported that in 2025, lenders generated 28.2 million credit reports from the CIC database, which is almost triple the volume recorded in the previous year.

“The surge reflects a stronger shift to data-driven credit decisioning and improved risk assessment practices for more responsible lending across the industry. It shows how trusted and transparent credit information is now central to the credit market, reducing information asymmetries and preventing borrower over-indebtedness,” he added.

PCEO Baltazar also stressed that CIC continues to strengthen the breadth and depth of its database through improved regulatory compliance among lenders. This ensures that CIC credit reports remain timely, accurate, and complete.

The CIC also continues to conduct free nationwide financial education programs, such as the CIC Academy. These programs help borrowers better understand their credit reports and use them as financial tools to improve access to credit.

In closing, PCEO Baltazar noted that despite the increasing operational costs driven by the continuous expansion of the credit database, CIC has kept the price of credit reports at ₱30 to maintain affordability.

“While most government-issued documents cost around a hundred pesos or more, CIC is intentionally preserving the price of credit reports since 2022 to ensure credit information remains accessible to the public,” he ended.

The event was organized by the Credit Management Association of the Philippines (CMAP) with the theme “Future-Proofing Credit: Digital Transformation, Financial Inclusion, and Risk Resilience in a Dynamic Economy.” It was attended by industry leaders, credit practitioners, and key stakeholders in finance and credit risk management.

CMAP is a private industry organization of credit professionals and institutions that promotes sound credit management practices and responsible lending in the Philippines.
 

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