Banco Agricola reported US$32 million net income, up 38% from the results obtained in 2000, reaching a ROA of 1.2%, in line with expectations when the rating was assigned. As anticipated, the dollarization of the economy brought down interest income, but net interest income continued to improve. The bank's improved efficiency also benefited bottom-line results. The loan portfolio showed an increasing trend, although at a slower pace than in recent years. Nonperforming loans (NPLs) as a percentage of gross loans remain at moderate levels of 3% and are fully covered by reserves. Restructured loansùwhich include certain current loans that have been refinancedùand foreclosed assets are still high. They represent more than 8% of total loans with a low reserve coverage,
