With the loan from Banco Adopem, Andrés Avelino Lara bought an electric oven and increased his production of cakes. He dreams of making his business grow and have his own store with different branches.
- The report by the Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank (IDB), and the Microfinance Information Exchange (MIX) has ranked Banco ADOPEM as the fifth best microfinance institution in the “Microfinance Americas: Top 100 2014” global ranking. Banco ADOPEM is the only bank from the Dominican Republic included in the ranking.
This year Banco ADOPEM has climbed in the composite ranking of the top 100, made up of the best microfinance institutions in Latin America and the Caribbean, from being placed 12th in 2013. Furthermore, in the 2014 ranking, it is in fifth position in the market penetration category, rising from seventh last year.
The report, which was presented for the tenth consecutive year, includes the categories composite ranking, scale – microenterprise, growth – microenterprise, market penetration, scale – consumer, retail deposit, efficiency, asset quality and profitability.
This year 229 microfinance institutions were analyzed and the resulting ranking is supported by auditors, government regulators, microfinance networks and rating agencies, among other independent sources.
Mix Market is a non-profit institution that is a leader in analyzing and measuring indicators of financial and social performance in the microfinance sector worldwide, and is considered one of the main sources of information on microfinance institutions.