Banco ADEMI

Executive Vice President: Gregorio Hernández
Active Borrowers: 90,358
Active Portfolio: $173,671,000
Average Loan: $1,922
Portfolio at Risk > 30 Days: 5.3%
Savers: 122,876
Savings Balance: $120,665,000
Statistics as of May 2010

Mission: Banco ADEMI is a banking institution that offers high quality products and services, with special attention to micro-, small- and medium-sized businesses, through the work of its highly experienced staff and the use of state-of-the-art technology. Banco ADEMI is committed to the economic and social development of its country and to promoting fundamental community values.

History: As of 2005, the name and legal title of Banco ADEMI was changed to a savings and loan bank, making Banco ADEMI a development bank. Banco ADEMI was founded in 1997 when it was transformed from the Association for the Development of Microenterprises (ADEMI), a non-profit organization (NGO), which began operations in 1983. Banco ADEMI’s vision is to be the leading provider of financial and consulting services in the country, with special attention to micro-, small- and medium-sized businesses, adding economic value to diverse sectors of society.

ACCION’s Role: Starting in 2006, ACCION appointed a resident advisor to work with Banco ADEMI with the goal of modernizing its credit operations and of developing new financial products tailored to its clients who themselves have few resources.

Banco ADEMI is one of ACCION's MFI partners who is working with ACCION and the Inter-American Development Bank to develop strategies for expanding rural microfinance. ACCION continued its work in the area of innovations in channels, with the design of a mobile branch and its routes. In the area of remittances, ACCION assisted the organization in the mapping of established partnerships among banks, couriers, and remittance providers, helping Ademi to identify and negotiate potential alliances. ACCION has also been working with Ademi in the area of savings, helping the institution with the design of a product portfolio and conducting focus groups to test its viability.

Where They Work:
Banco ADEMI has 23 offices spread throughout the Dominican Republic with 7 offices located within Santo Domingo.