Despite a weak start, LAAD reported positive results for the fiscal year which ended October 31st, 2023. The loan portfolio increased by 5.5%. The Company also achieved an adequate average ROE of 10.0%. The non-performing loan ratio was 4.84%, and delinquencies for the period were 3.92% of the total portfolio.
LAAD’s mindset has always been to look at every difficulty as an opportunity to grow, improve, and adapt, with our mission firmly driving us forward. Although below our expectations, our Strategic Business Unit (SBU) achieved a $281,000 fee income, a respectable 116% more than what was made in the prior year.
We believe responsible lending transcends financial performance, encompassing environmental and social considerations crucial for long-term success. We continuously evaluate and refine our Social and Environmental Management System (SEMS), seeking opportunities for improvement and streamlining our borrower engagement process into a risk-based approach. Recognizing the pivotal role our clients play in driving positive environmental and social impact, we stand ready to support them every step of the way.
Over the course of its existence, LAAD has consistently found that its greatest asset is its people. We express our gratitude to our outstanding clients, financial partners, shareholders, and dedicated staff, all united in the shared pursuit of fostering economic and social development in Latin America. Despite anticipating distinct challenges in 2024, much like those conquered in the past, LAAD stands ready to confront them with resilience and adaptability. Thus, we approach the coming year with a sense of optimism and high expectations.
Thank you for your continued confidence in LAAD.
