According to the agency, the key factors that reinforced this assessment are the specialized microcredit business model, a healthy credit portfolio, robust capitalization, high profitability, income diversification and good liquidity.
The entity’s capital is considered sufficient to maintain the bank’s growth. Fitch also notes the stability of the bank’s financial performance and capitalization indicators which have been steadily sustained for many years, a tendency most likely to uphold in the mid-term.
Leader in the microfinance market
Fitch also pointed out that Banco Adopem leads the savings and credit banking sector, with a 23% market share.
Furthermore, the agency’s report also highlights the contribution of the BBVA Microfinance Foundation (BBVAMF) in terms of experience, best practices and corporate governance. With the Foundation’s support, Banco Adopem improves the quality of its financial services, as well as people’s access to it. Geographic reach is also enhanced, financial education programs are promoted and the BBVAMF’s methodology, Productive Finance, is reinforced.