Feller Rate reaffirmed the A- solvency rating with stable outlook for the La Vega Real Savings and Loan Association (ALAVER), highlighting its adequate ability to generate results, equity backing and prudent risk management.
The rating agency valued ALAVER's track record and its relevant position within the associations industry, where it ranks fourth in terms of placement volume, with a market share of 4.1% as of the end of June 2025. The entity maintains a strong presence in the province of La Vega, where it concentrates approximately 71% of the market in its segment.
In 2024, the net loan portfolio grew by 12% to RD$9,583 million, primarily composed of commercial loans (42.6%), mortgages (32.4%), and consumer loans (25%). By the first half of 2025, the portfolio had exceeded RD$10,016 million, with delinquency indicators under control: 1.8% of loans past due by more than 90 days and a loan loss provisioning ratio of 1.5 times.
Equity reached RD$2.915 billion in June 2025, with a solvency ratio of 28.4%, well above the regulatory minimum of 10%, providing ample room for growth. Despite not having shareholders to inject capital in case of need, the recurring capitalization of profits has strengthened its equity base.
Operating income is primarily derived from the financial margin (92%), in line with its lending focus. Return on assets stood at 1.5% in 2024 and remained stable in 2025, although below the average for the association system, influenced by a high operating expense structure due to its personalized service model and ongoing digital transformation.
The stable outlook reflects ALAVER's ability to maintain its market position, the quality of its portfolio, and its financial discipline. Feller Rate notes that an upgrade would require a significant increase in the scale of operations or sustained improvements in efficiency.
About Alaver
Founded in 1963, Alaver has demonstrated a strong commitment to excellence and financial responsibility, offering products and services that meet the highest quality standards. It boasts an extensive network of digital service channels, branches, and ATMs for 24/7 inquiries and transactions.
