But with that level of coverage that I mentioned, 56% with the asset that we have, which we feel comfortable that the level of coverage between the provisions that we have already on our books and the value of the asset. We feel comfortable that give us comfort on how the situation at Banistmo at this moment. We will continue evolving on the situation process with the client. That would take some time, but we expect to have the situation clear probably by the end of the year. So at that point, we’ll know exactly what the evolution or how the evolution of this client will be. Regarding your question, if there is room for dividends with the target of 11%, yes, they are. Remember that we target an 11% Tier 1 for the end of the year. Loan growth during the year will be much less than this year.
So we will not consume capital from that side and we accumulate capital. So that will allow us to have a very good balance between our dividend policy, and the level of capital in which we feel comfortable, which is our target €“ which is that 11%. I don’t know José, if you want to complement the second point that Carlos mentioned.
Jose Humberto Acosta: Yes, Juan. There are two reasons. The first one, why we get the 10% was loan growth. As Juan mentioned, we don’t think that the fourth quarter we are going to have the same frame in the loan growth. That explains why we believe at the end of the year, the level of Tier 1 will increase. And the second reason is FX. Remember that accumulated last 12 months till September FX evaluation was 20%. We don’t foresee at the same level of evaluation for the fourth quarter. So because of these two reasons, we believe that we’ll exceed the 11% Tier 1 ratio at the end of the two years.
Carlos Gomez: Sorry, you think you will exceed 11% at the end of 2022?
Juan Carlos Mora: 2023.
Jose Humberto Acosta: Yes. So we will have €“ it’s 2023, and we will have a room for dividend for 2022, the first quarter of 2023.
Juan Carlos Mora: Go ahead. Go ahead, please.
Jose Humberto Acosta: Okay, again.
Juan Carlos Mora: No please, so.
Jose Humberto Acosta: There are three. So yes. We are going to reach both €“ we are going to reach at around 11% at the end of each year. So we will have enough space for exceeding and to have a dividend payout. So we are not €“ right now, we don’t know exactly a number, but we are going to make the calculations regarding the amount of capital that we need. That would be 11% in area. I don’t know if that is clear, Carlos. The consumer capital for the last quarter for the fourth quarter will be less that the consumer capital time will see in the first three quarters.
Carlos Gomez: Okay. To summarize, so you think you will be at or be close to 11% by the end of 2022, and then you will be above 11% by the end of 2023?
Juan Carlos Mora: No, that’s €“ let me clarify. Let me clarify that. Okay. We €“ at this moment, we are on a level of 10% of Tier 1 capital. We accumulate some capital during the fourth quarter of 2022, because the loan growth is going to be less during that quarter. So we are accumulate some capital there, but it is not going to reach 11%. Then we have €“ we will calculate the target of Tier 1, which will be 11%. And then with that, we will propose the dividend to the Shareholder Meetings and that would allow us to have a dividend policy and to have dividends next year based on the results of 2022 and reach the level of 11%, since the loan growth during 2023 is going to be as I mentioned before around 5%. So it’s going to be a growth that will not consume capital and we will accumulate capital during 2023, Is that clear, Carlos?
