Banco Popular was recognized as the Best Real Estate Bank in the Dominican Republic by the prestigious financial magazine Euromoney
Santo Domingo — Banco Popular was recognized as the Best Real Estate Bank in the Dominican Republic by the prestigious financial magazine Euromoney. This recognition highlighted Banco Popular’s leadership in the real estate and construction market and commitment to the sector’s development in the country.
The magazine, based in England, has been awarding this prize for 27 years, although this is the first time it has been granted to a bank in the Dominican Republic.
In its analysis, the magazine valued Banco Popular’s financial performance in the real estate sector. It noted a market share of 31.2% in mortgage loans and 34.5% in the commercial portfolio dedicated to the construction sector.
During the last twelve months, Banco Popular’s mortgage portfolio grew by 13%, reaching RD$62,000 million. This has benefited more than 3,500 clients, with RD$17,229 million disbursed.
Similarly, construction loans recorded a 41% increase in approvals, which exceeded RD$12,622 million. Meanwhile, disbursements amounted to RD$17,710 million, benefiting more than 355 clients.
Boost to the sector
Euromoney magazine recognized Popular’s innovative strategies and capacity to promote the growth of the real estate and construction sector through alliances with construction companies and real estate agencies.
In the last five years, the institution has facilitated more than RD$41.2 billion in mortgage loans and approved more than RD$22.8 billion in construction loans, positively impacting the national economy.
Innovation and sustainability
Euromoney highlighted Popular’s technological leadership and the strategy of using its digital channels to facilitate the operations of real estate developers and acquirers, improving the efficiency and experience of its customers.
Sustainable development
A press release highlights that the magazine cited the bank’s commitment to sustainable development, allocating RD$2.8 billion to compliance with the UN Principles of Responsible Banking, including RD$56 million in loans for homes certified as sustainable.
Valuation
Speaking about the recognition, Popular’s executive president, Christopher Paniagua, highlighted how the award highlights the bank’s efforts to “offer innovative and sustainable solutions that bring value to its clients and to the development of the Dominican Republic.”