Saturday, 01 October 2022 04:31

SISTEMA FEDECRÉDITO grows more in loans and other items in 2022

Written by Evelyn Alas

At the close of the first half of the year in june of this year, the SISTEMA FEDECRÉDITO achieved a growth in its loan portfolio of 12% compared to june 2021, equivalent to $289 million. The loan portfolio balance reached $2,686 million at the end of the first half of 2022, explained Oscar Pérez, director of Finance and Operations of FEDECRÉDITO.

This increase allows members and clients of the Cajas de Crédito and the Bancos de los Trabajadores to have greater credit support for their projects and economic activities, said the executive.

Similarly, the deposits item grew by $177 million as of june 2022, 11% more than in 2021, becoming the main source of funds to meet their active and investment operations. This achievement reflects the confidence of members and clients in the soundness of the SISTEMA FEDECRÉDITO, said Pérez.

In the case of family remittances, the executive indicated that they reflect an increase of 7% with respect to the previous year, reaching $799 million and achieving a market share of 21.1%. He also explained that the institution's assets reached $3,671 million and its net worth $583 million.

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The solvency indicator of SISTEMA FEDECRÉDITO reached 21.10%, a value higher than the 12% required by regulation, which reaffirms the financial soundness and efficiency of the institution, said Pérez.

The levels of growth and performance mentioned above have allowed SISTEMA FEDECRÉDITO to have sufficient liquidity to cover its obligations in a responsible and solid manner, allowing it to maintain its leadership in the market thanks to the constant search for innovative solutions to satisfy all its members and clients, said the executive.

The broad coverage and multi-channel platform of the SISTEMA FEDECRÉDITO facilitates access to all the financial products and services offered by the 47 Cajas de Crédito and the 7 Bancos de los Trabajadores throughout the country.

Finally, the executive explained that the constant and sustained growth of the financial institution is the result of the transforming vision and leadership of the institution's president, Macario Armando Rosales Rosa, who is committed to continue innovating and increasing the value of the products and services offered by SISTEMA FEDECRÉDITO, in order to satisfy the needs of all its members and clients.