Profits Surge 21% from Diverse Sector Investments

April 24, 2024
9:49AM PHT

The Government Service Insurance System (GSIS) announced a significant 21% rise in netincome to P37 billion for the first quarter of 2024, driven by heightened investments in strategicsectors.

In a statement, GSIS president Wick Veloso attributed this robust performance to targetedinvestments in real estate, infrastructure, food, energy, and mining, which collectively pushedrevenues to P85 billion, marking a 17% year-on-year increase.

The fund's global financial assets also saw a remarkable 45% growth.

With total assets reaching P1.74 trillion, GSIS continues to bolster its financial services,supporting the economic needs of its two million members and contributing positively to thenational economy, the agency said.

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