The FGA Guarantee Fund guaranteed $6.7 trillion in loans in the country during 2022with which nearly 1 million 800 thousand Colombians benefited, 45% more compared to the previous year.
will present the consolidated results of its management in 2022. In this sense, the company
Within the 2022 management, the results of FGA Solutions stand out, its main line of business, which registered income of $477,867 million, with an annual increase of 55%. This allowed the company to close last year with revenues of $533,579 million, which represents a growth of 55% compared to 2021.
Added to the above, the company ended 2022 with total assets of $474,770 million, 32% higher than the figure obtained in 2021. Finally, equity totaled $183,333 million, growing 29% compared to the previous year.
David Bocanument, president of FGA Fondo de Garantías, says that “for 25 years we have offered agile and secure solutions for people to access credit and make their dreams come true. Throughout our history we have guaranteed close to 14 million credit operations worth $30 billion pesos to more than 5 million people. Even in a challenging macroeconomic context, the results that we share with the market today show the company’s growth, so we will continue working to continue being that strategic ally that contributes to the economic development of the country and the quality of life of Colombians”.
Mercado
The company’s solidity has allowed it to consolidate itself as a leader in the consumer credit guarantee market and support the growth of its clients, as well as the number of Colombians who make their dreams possible thanks to the ease provided by the guarantees. In this way, during 2022 FGA Guarantee Fund expanded its network of allies, exceeding 90 clients that allowed it to advance 3,150,096 credit operations.
Likewise, the good results of the company allowed it to end the year with a net profit of $42,094 million, which represents an increase of 40% compared to 2021.
“Taking into account that virtuality is present in people’s day-to-day lives, in 2022 we also made progress in the digitization of our processes, promoting the use of multiplatform channels and enabling 62% of our operations to be fully carried out electronics”, pointed out Bocanument.
Back
Finally, by 2023, under the premise of facilitating access to credit for Colombians, FGA Fondo de Garantías projects positive results. For this year, it plans a growth of 28%, reaching more than $8.7 trillion pesos in backed loans.
FGA Fondo de Garantías SA is an institutional and mixed economy company with a private majority, created in 1997 by the National Guarantee Fund (FNG), the Municipality of Medellín and the Medellín Chamber of Commerce for Antioquia.
The company has established itself in the financial sector as the institutional guarantor of Colombians, offering a flexible model of guarantees that facilitates people’s access to credit and mitigates the risk of loss for financial intermediaries in sectors such as banks, cooperatives, Fintech , commerce, financing companies, compensation funds, employee funds, among others.
In recent years, it has been a fundamental pillar, especially for small and medium-sized businesses. After the pandemic, the fund backed numerous loans that served as a business reactivation.
THE PRESIDENT of FGA Fondo de Garantías, David Bocanument, says that “we offer agile and safe solutions so that people make their dreams come true”. /Courtesy