Sunday, May 28, 2023

AIRAC Cooperatives informs that it maintains a solvency index

The Association of Rural Savings and Credit Institutions (AIRAC) reported that its 18 affiliated cooperatives maintain a solvency rate that exceeds 16.3%, more than six points above that required by the system.

The president of AIRAC, Alfredo Dorrejo, said that the liquidity indicator, which is related to the Funds available and the total depositsstood at 29.3%, ensuring the return of the most volatile resources to their owners, without representing a liquidity risk.

In the same way, he explained that the total number of cooperatives that make it up closed the first quarter of 2023 with total assets that exceeded RD$129,354 million, representing a growth of 14.5% in relation to the year 2022.

Dorrejo presented a sample of AIRAC’s excellent indicators, among which he highlighted that the loan portfolio represents 74.6% of total assets and is 106.5% financed by resources from the associated public.

He assured that these figures speak of the robust and sustained growth of the member entities of the AIRAC system.

He highlighted the support of these cooperatives for the national productive apparatus, especially in the countryside, for micro, small, and medium-sized entrepreneurs, as well as for businesses started by women, “sectors to which we have placed special interest due to the productive chain that they generate in the locations where they operate.

Likewise, he explained that “the value chain generated by these 18 cooperatives has become the transversal axis, not only of the economic development of the communities where they operate, but they are a catalyst for social transformation due to the support they provide to the education, health, sport and employment of the same”.


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