Thursday, June 1, 2023

Asociación La Nacional diversifies its portfolio to support MSMEs and home acquisition

The The National Association of Savings and Loans presented the results of its 2022 management, in which it highlighted the positive results of the entity in important business areas thanks to the correct application of its strategic plan and the timely management of its leaders.

Proof of this is the behavior of the credit portfolio by risk category, in which it stands out that credits with risk rating “A” represent 94.5% of the total portfolio, which compares favorably with the behavior obtained in the previous year.

For the entity, known for its commitment to the progress of the Dominican family, the diversification of its loan portfolio in 2022 allowed them to continue being a support for the thriving sectors of the economy such as MSMEs, to whom they granted some 3,500 loans for working capital, debt consolidation and adjustments to their businesses.

Meanwhile, the segment of loans for the acquisition of housing continued to be its main bet, with a total portfolio of 65%, of which it is worth noting that 27% corresponded to loans granted to the Dominican diaspora, who receive important facilities to acquire property in his native land.

Likewise, the mortgage portfolio It continued to be the most relevant within the portfolio, with a balance at the end of the year of RD$17,635 million, presenting a growth of 13% compared to 2021.

The La Nacional Association also highlighted the positive improvement of the entity’s financial indicators, with an ROA of 2.19% in 2022, an ROE of 13.84% in the same period and a result before tax of RD 806.3 MM, equivalent to growth of 8.17%. Results that show the resilience shown by the entity in a challenging period, as well as its robustness and financial efficiency.

In another order, despite the challenges that it represented for market risk management during 2022, and the increases in interest rates as a result of the restrictive monetary policy decisions adopted by the Central Bank, the La Nacional Association of Due to the proper management of its assets and liabilities, Savings and Loans was able to mitigate the effects and managed to maintain a solvency rate of 16.95%, higher than the minimum required by regulation of 10%.

In addition, the Chairman of the Board of Directors, Francisco E. Melo Chalas specified that during 2022 La Nacional updated around 20 internal regulations and carried out a process to strengthen the culture of corporate governance, with the vision of continuing to strengthen the foundations for the development of the entity.

It is worth noting that during the past year, La Nacional continued to implement its financial education and inclusion strategy that seeks general awareness of the importance of banking and the growth of financial knowledge in the least favored sectors, achieving to date that more than 50,000 people receive training.

La Nacional reaffirms its commitment to its saving partners to continue being close, transparent and inclusive, while continuing to offer the highest quality standards in service and competitive financial facilities.


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