The Business Cooperative registered at the end of last year 2021 an increase of RD$ 2,720 million in its assets, to a growth of 14%,
It also implemented new initiatives in favor of the sector of micro, small and medium enterprises (MSMEs), according to a report by the manager Joseph Suriel.
In the Ordinary General Assembly of the institution, Suriel signified that with a credit portfolio of RD$2,089 million, loans amounting to RD$1,254 million were disbursed, with the participation of 1,778 beneficiary borrowers. with 2,272 loans.
He said that “the most benefited lines in this placement were: Commerce 38%, personal 37%, industry 8%, housing 13%, transportation 3%, agribusiness and agriculture 1%.
Another achievement to highlight was the entry of 2,120 new associates, with a growth in payroll of 13%, which increases the incidence of the Business Cooperative in the SME and social sectors.
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Assessment
“Regarding the results of the surpluses of the period, they had an increase of 53%, which represents continuous improvements with permanent increases every year, improving profitability, giving positive results,” he argued.
He pointed out that these results, corresponding to the last fiscal periodsignify a step forward towards the strengthening of sustained economic, financial and social development, which has been made possible by the continuous support of the business associations that are forged under the institution.
The president of the Board of Directors of the entity also intervened in the act, Freddy Diazwho highlighted that with the institution’s forward-looking policy they have made important achievements in favor of the sector that serves as its base: micro, small and medium-sized enterprises.
The reports corresponding to the 2021-2022 period also included the reports of the Supervisory Board, which chairs Victor Gomez; the Credit Committee, headed by Ramon Penaand the Education Commission, which runs Raphael Collado.
