ASIALINK Group of Companies’ financing portfolio grew 20 percent to P50.2 billion as of end-June, mainly driven by lending to micro, small and medium enterprises (MSMEs).
In a statement on Tuesday, the group said assets under management (AUM) rose from P41.873 billion in the same period last year, based on internally verified data provided by the company.
Asialink Group CEO Robert Jordan Jr. said the company’s growth reflected the efforts of its employees and leaders despite the prevailing macroeconomic environment.
“With this new achievement, we are even more determined to contribute to sustainable economic development and nation-building,” he added.
MSME borrowers accounted for 60 percent of the portfolio, representing more than 165,000 active clients with an average loan size of P450,000.
Retail clients accounted for the remaining 40 percent.
The group maintained a nonperforming loan (NPL) ratio of 2 percent as of end-June.
The group’s expansion has been supported by credit facilities from international financial institutions, including a $75-million facility from Standard Chartered Bank, $165-million facility from the Asian Development Bank and $135-million facility from International Finance Corp.
The company was said to have secured a P500-million sustainability-linked social credit facility from Cathay United Bank to support underserved sectors, including rural MSMEs and women-owned businesses.
