The Popular Association of Savings and Loans (APAP) achieved at the end of 2021 a extraordinary growth of 21.5% in its assets, for a total of RD$118,781 millionin a context of rapid economic recovery after overcoming the effects of the Covid-19 pandemic.
As part of the assets, the gross credit portfolio grew by 17.4%, closing at RD$61,300 millionwith a delinquency level improved to 1.4% and a past due portfolio coverage of more than 31 days of 286.8%.
The APAP marked another milestone by closing the fiscal year January-December 2021 with a solvency ratio of 53.8%more than five times the minimum of 10% established by the Monetary and Financial Law.
Results
“The health of these results has been ratified by the risk rating agencies Fitch Ratings and Feller Rate, which have assigned APAP an AA- rating with a stable outlook,” said Gustavo Ariza, executive president of the financial institution.
The entity highlighted that it experienced a strong commercial credit growth of 44.5%and 25.0% in consumer loans and 17.6% in mortgage loans, positively impacting different areas of the Dominican economy.
The mortgage loans represented 55.9% of the portfolio, and APAP ratifies its original vocation to promote housing construction, while consumer loans amounted to 27.7% and commercial loans were 16.4%.