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Article: GSIS posts P36.5-B net income in 2004.(Main News)
- Article from:
- Manila Bulletin
- Article date:
- May 13, 2005
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The Government Service Insurance System (GSIS) realized a net income of R36.5 billion from January 1 to December 31, 2004, the highest by far among government corporations.
According to the pension funds financial statement, the net investment income of the GSIS rose to R25.944 billion in 2004 from R18.053 billion in 2003, or an increase of more than R7 billion.
Combined with other income, including membership premiums, total net income reached R36.5 billion at end 2004 compared to only R35.5 billion a year earlier.
GSIS President and General Manager Winston Garcia earlier reported that in 2004, the GSIS generated savings of R1.085 billion last ...