Dolla Financial Services has expanded its footprint in Jamaica's microfinance sector with the acquisition of the lending portfolio Evolve Loan Company.
The transaction, which took effect on June 30, includes a loan portfolio with a gross value of approximately $700 million and about 1,800 customer accounts.
Dolla says the acquisition supports its long-term strategy to grow its loan book, increase earnings and broaden its customer base, while maintaining strong risk management and governance standards.
Chief Executive Officer Kenroy Kerr says the deal is another important milestone for the company, strengthening its presence in the local market and creating long-term value for shareholders.
General Manager of Evolve Loan Co., Delroy Anderson, says the transaction is a positive outcome for customers and will allow Evolve to sharpen its strategic focus while ensuring borrowers continue to receive a quality service.
comments powered by Disqus
All feeds
