Economy July 18, 2016 | 8:59 am

Assets of US$8.6B catapult State-owned bank to the top

Santo Domingo.- At the close of June 2016 the State-owned Reservasbank’s assets reached RD$395.6 billion (US$8.6 billion), leading the country’scommercial banks with 32.9%, an increase of RD$96.9 billion since 2013.

Reservas bank administrator Enrique Ramirez provided thefigures in an activity at San Souci convention center, where he presented the bank’snew image to mark its 75 years since founded.

In the event attended by Reservas board members andgovernment officials, Ramirez noted that assets grew by 62.7% by the end ofJune, or RD$26.6 billion.

“As a result of a historical process, which included the passingof a law, the institution’s paid capital tripled in just three years, from RD$3.0billion in 2013 to RD$10.0 billion in 2016,” Ramirez said, adding that depositstopped RD$303.7 billion as of June, or 20.2% higher than June 2013, making itthe leading commercial bank.

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