Dominican financial system adds RD$1.31B in assets, a 7.7% jump

Santo Domingo.- DominicanRepublic’s financial system is becoming more robust and stable as evidenced by sustainedgrowth of its assets, advances in monitoring, key regulatory changes, userprotection, a strategic plan in line with international requirements and otherbusiness aspects adopted by the Banks Superintendence.

The system’s assets grewby RD$1.31 billion as of October 31, a 7.7% growth over the same period in 2014,according to Banks superintendent Luis Armando Asuncion.

He said betweenDecember and October last year, growth stood at 6.8%. “This speaks highly ofthe system and reaffirms the Dominican economy´s behavior.”

Moreover the Dominicanfinancial system posts a capital surplus of RD$57.0 billion, which shows thefinancial strength of banks to absorb possible losses associated with thenumerous risks, the official said.

Banks Superintendence (SB)officials, headed by Luis Armando Asuncion were interviewed by newspaper ListinDiario on their agency´s progress and challenges.