Leaders in NPL restructuring
Recognized as one of the pioneer FIST-Corporations in the Philippines, ARGO Global Servicing aims to assist financial institutions in maintaining liquidity and healthy capitalization. With over 169 banks across Asia as clientele, ARGO Global Servicing is confident it can provide the same expertise and efficiency to local banks in the Philippines .
What is FIST-C?
Enacted on February 16,2021, Financial Strategic Transfer Act or the FIST Act (RA 11523) aims to aid in the country’s economic recovery from the dire effects of the COVID-19 pandemic by allowing Financial Institutions such as banks to sell bad and non-performing loans to asset management companies. These asset management companies will be referred as Financial Institutions Strategic Transfer Corporations (FIST Corporations).
FIST Corporations will then manage, operate, collect, and dispose of non-performing assets acquired from financial institutions (banks). As an effect, financial institutions become more liquid and can continue lending activities to borrowers.