Over 58,000 vulnerable entrepreneurs join Banco Adopem

31 May 2017
Banco Adopem

Banco Adopem has signed up around 58,000 new entrepreneurial clients, of whom 90% are in poverty or vulnerable. This was one of the figures announced by the Executive President of Banco ADOPEM, Mercedes Canalda, during the Shareholders’ Annual General Assembly . She also reported that at the end of 2016, the institution had 390,199 net clients, of whom over 224,000 are credit clients, and 165,000 are savings clients.

The institution opened nearly 100,000 new savings accounts and signed over 65,000 micro-insurance policies at the best market price, reconfirming its commitment to clients’ progress and to promoting Productive Finance.

The Executive President also announced that Banco ADOPEM is the first financial intermediary institution with entirely private equity to have a footprint in all of the country’s provinces, with a total of 74 branch offices and 135 banking subagents.

Adopem’s assets grow

Canalda informed attendees at the AGM that the institution’s total assets came to DOP7.281 billion, an increase of 24.6% over the previous year.