Banco Adopem has an impact on 8% of the economically-active low-income population in the Dominican Republic

The executive president of Banco Adopem has presented the bank’s results for 2014.

27 January 2015
Banco Adopem

Banco de Ahorro y Crédito ADOPEM has informed that in 2014 its credit portfolio grew by more than 20% compared with 2013, with a total of 197,240 current loans. These figures have been taken from the 2014 progress report presented by Mercedes Canalda de Beras-Goico, executive president of the bank.

Mercedes Canalda de Beras-Goico explained that the gross credit portfolio amounted to RD$4,245.7 million, with improved quality indicators, a coverage ratio for the past due portfolio of 155% for these loans and a default ratio of 2.29%.

She added that ADOPEM has a share of 26.67% and 28.04% of the total assets and the portfolio, respectively, among the savings and credit banks in the Dominican Republic.

The bank’s executive said that as of December 2014, ADOPEM’s total assets amounted to RD$5,343.1 million, RD$889.1 million more than in December 2013, with a compliance level above the scheduled figures in nearly all the items. Productive assets represent 91.1% of total assets, with a liquidity index of 18.2%.

She said that in 2014 portfolio penalties represented 0.49% of the total portfolio, which demonstrates that the bank’s tracking management is preventing the over-indebtedness of its clients.

She explained that the total funds obtained amounted to RD$2,238 million, with financial certificates representing 74% and savings deposits 26%.

Compared with 2013, total operations increased by 16%, positioning Banco ADOPEM among the fastest growing banks in this area in the local financial system.

At the close of 2014, Banco ADOPEM’s net profits amounted to RD$328 million.