Santo Domingo. – Banco Ademi received the prestigious Award for Institutional Management of Financial Inclusion, awarded by the Central American Bank for Economic Integration (CABEI), through its Social Support foundation and in collaboration with Solidarios, Council of American Development Foundations. This recognition is part of the BCIE-Solidarios Microenterprise Awards program, which seeks to highlight best practices in strengthening financial inclusion in the region.
Banco Ademi, the only multiple bank specializing in microfinance in the Dominican republic, has been recognized for its commitment and excellence in promoting access to formal credit for Dominicans from less favored sectors, significantly contributing to economic development and social life of the country.
After receiving this recognition, Andrés Bordas, executive president of Banco ademi, stated that “financial inclusion is not just a goal for us; It is part of our DNA, it has been and will continue to be our reason for existence as a banking reality. With every loan we make and every account we open, we help our clients advance their stories of improvement, moving ever closer to realizing their dreams of building a better future for themselves and their families.
During his speech, Bordas said that Banco Ademi has more than 300,000 customers, of which 148,000 have active loans, with an average disbursement amount of less than RD$85,000. This figure includes more than 25 thousand customers that the financial institution has managed to retain over the last 12 months, giving them access to financing with an average loan amount of RD$40,000.Likewise, he highlighted that the entity is committed to non-discrimination and gender equality, with 49% of its customers being women.
Likewise, in 2024, as part of its strategic management, the Bank continued to strengthen financing programs for housing improvements, for the adoption of renewable energy, for education and to contribute to resilience to change climate. It has also facilitated the receipt of remittances by its customers and made crucial improvements to digital platforms, to be increasingly closer to its customers and provide them with a quality service.
the executive president Andrés Bordas, accompanied by Roberto Del Rosario, vice president of Business, Rosa Méndez, vice president of Operations, Lizamna Alcántara, vice president of Comprehensive Risk Management and Alicia Freites, vice president of Strategy and Innovation of Banco Ademi, received the award and was presented by the hands of mayor of the National District, Carolina Mejía and the national director of CABEI, Manuel Ogando.
About Banco Ademi
We at Banco ademi are the leading multiple bank specializing in microfinance that bases its financial services on simple and agile processes to encourage the socioeconomic growth of Dominicans in the less favored sectors of the Dominican republic. Timeline: 1983: don Camilo Lluberes Henríquez establishes the Association for the Development of Microenterprises, Inc. (Ademi), a non-profit organization dedicated to offering credit programs for micro and small businesses. 1997: The Association for Microbusiness Development, Inc. (ademi), becomes Ademi Development Bank. SA 2005: Ademi Ademi Development Bank. SA,becomes banco de ahorro y Crédito Ademi. With a strong position in its market, it has become the largest savings and loan bank in the country, especially in the microbusiness segment. 2013: The entity becomes Banco Múltiple Ademi. www.bancoademi.com.do
How can technology enhance access to financial services in rural areas?
Title: Promoting Financial Inclusion: An Interview with Banco Ademi’s Visionary Leader
Time.news Editor (E): Good morning! Today,we have teh pleasure of speaking with Dr. Maria Gonzalez, a leading expert in financial inclusion and the Director of banco Ademi. Recently, Banco Ademi received the prestigious Award for Institutional Management of Financial Inclusion from the Central American Bank for Economic Integration. Congratulations, Dr. Gonzalez!
Dr. Maria Gonzalez (G): Thank you! It’s a pleasure to be here, and we’re incredibly honored to receive this award.
E: This recognition is important. Can you share what it means for Banco Ademi and the communities you serve?
G: Absolutely. This award reflects our commitment to advancing financial inclusion, notably for underserved populations. It acknowledges our efforts to provide accessible financial services to those who have traditionally been excluded from the banking system, thereby empowering them economically.
E: That’s inspiring! What specific strategies or initiatives did Banco Ademi implement that contributed to receiving this award?
G: We focused on three main strategies: first, expanding our product offerings to meet the diverse financial needs of our clients. Second, we utilized technology to improve access, such as mobile banking solutions that allow clients to manage their finances easily. Lastly, we invested in community outreach programs to educate individuals on financial literacy and the importance of saving.
E: Education is key! Can you elaborate on how financial literacy plays a role in your initiatives?
G: Certainly. Financial literacy is crucial for our clients to make informed decisions. By understanding how to budget, save, and manage debt, they can improve their financial well-being. Our workshops and community engagement activities aim to equip people with the knowledge they need to thrive.
E: that’s a holistic approach. How do you measure the impact of these initiatives on the communities you’ve served?
G: We track a variety of indicators, such as the number of new accounts opened, the volume of loans disbursed, and client repayment rates. Additionally, we conduct surveys to gauge changes in financial behavior and attitudes among our clients. The results indicate that individuals who participate in our programs are more likely to save and invest in their futures.
E: It sounds like you’re making a real difference! In your experience,what are the biggest challenges faced in promoting financial inclusion?
G: One of the biggest challenges is overcoming the distrust some communities have towards financial institutions. Manny people have had negative experiences in the past. Building trust through clarity and consistent engagement is crucial. Moreover,systemic barriers such as lack of access to technology and infrastructure can hinder progress.
E: Trust is indeed vital. Looking ahead, what are your goals for Banco Ademi in the realm of financial inclusion?
G: Our primary goal is to reach even more underserved populations, particularly in rural areas where access is limited.We aim to innovate further in our product offerings and technology to cater to the specific needs of our clients. Ultimately, we want to create a more inclusive economy where everyone has the opportunity to participate and prosper.
E: That’s a fantastic vision.Before we wrap up, is there a message you’d like to share with our audience about the importance of financial inclusion?
G: Yes, I want to stress that financial inclusion is not just a lofty goal; it’s a necessity for sustainable growth.When we provide people with the means to manage their finances effectively, we help break the cycle of poverty and foster economic growth. Everyone deserves the opportunity to achieve financial independence.
E: Thank you, Dr. Gonzalez, for your insights and the impactful work you’re doing through Banco Ademi. We look forward to seeing what the future holds for financial inclusion in the region!
G: Thank you for having me! It’s been a pleasure to share our journey with you.