Banco ADOPEM increases its credit portfolio by 19%

2 February 2016
Banco Adopem

According to its financial report, Banco ADOPEM’s current credit portfolio was up over 19% in 2015 compared to the previous year, with a total of 219,029 active loans.

Banco ADOPEM’s gross loan portfolio stands at DR $5.059 billion, with a 150% overdue loan coverage and a default rate of 2.51%. As described by the bank’s executive president Mercedes Canalda de Beras-Goico, ADOPEM has a 21.11% and 24.36% share of total assets and portfolio respectively among savings and loan banks.

In December 2015 the total assets of Banco ADOPEM were DR $5.8589 billion, up DR $527 million since December 2014, with a better-than-predicted level of compliance in almost all categories. Productive assets account for 91% of total assets.

The total amount of capital raised was DR $2.308 billion, with financial certificates representing 69% and savings deposits 31%. Defaults in the portfolio in 2015 accounted for 0.49% of the total, further evidence of the quality of the management of the bank’s loan portfolio.

Savings deposits were up 25.5% over 2014, placing Banco ADOPEM at the head of the national financial system in the Dominican Republic in terms of growth in this category.

At the end of the 2015 financial year, Banco ADOPEM’s net utilities amounted to DR $402.8 million. In that period, the results for operational processes revealed that 36,552 transactions were made through Pagatodo and 72,319 transactions through T-Pago, for an amount of DR $24,294,625,53 and DR $21.384,809,07 respectively.

The impact of Banco ADOPEM’s products and services has enabled them to consolidate their customers’ growth by increasing their customers’ business utilities by 20% compared to 2014, and their assets by 17%.

Since 2011, over 14,000 current customers categorized as poor in their initial records have overcome the poverty threshold, and after two years, 35% of the customers initially classified as poor succeed in rising out of poverty.

Another of Banco ADOPEM’s key achievements in 2015 was their success in preventing overindebtedness among its customers, thanks to direct training in financial literacy for more than 25,000 underprivileged entrepreneurs.