SANTO DOMINGO - The La Vega Real Savings and Loan Association (ALAVER) achieved significant growth in its main financial indicators at the close of 2024, with assets amounting to RD$15,155 million, representing an 11% year-on-year increase.
Rubén Álvarez Martínez, president of the Board of Directors, stated that "this financial performance is evidence of ALAVER's commitment to stability, prudence and efficiency in management.".
As reported during its Ordinary General Assembly of Associates, this growth was mainly based on the dynamism of the net credit portfolio, which increased by 12% and reached RD$9,583 million, as well as the rise in savings and securities deposits, which totaled RD$11,921 million at the close of the fiscal year.
In a national context characterized by economic resilience in the face of adverse external factors, ALAVER managed to maintain a solid financial margin. The entity recorded financial income of RD$1,733 million, 16% more than in 2023, while its net profit rose to RD$216.4 million, a 6% increase compared to the previous year.
Rubén Álvarez Martínez. (EXTERNAL SOURCE).
Furthermore, the entity's net worth grew by 8%, reaching RD$2.808 billion, with a solvency ratio of 26.99%, well above the minimum required by monetary authorities. In addition, ALAVER fully complied with all technical indicators required by regulations, according to an external audit conducted by PriceWaterhouseCoopers.
In terms of innovation and operational efficiency, the institution completed the first phase of its digital signature system and launched its digital records system, which is currently in a pilot phase. These investments in technology were complemented by the strengthening of cybersecurity protocols, achieving PCI-DSS certification for the third consecutive year and receiving the digital authentication badge from the Superintendency of Banks.
“We have focused on modernizing our services, ensuring the safety of our members, and optimizing risk management. That is the foundation of our institutional sustainability,” stated Álvarez Martínez.
The Assembly also approved the capitalization of all 2024 profits, thereby strengthening the entity's equity. Furthermore, a new Board of Directors was elected, and the appointment of the Auditor for the new fiscal year was ratified.
