Banco Popular closes the year with RD$556,855,000 in assets

Santo Domingo, DR

Banco Popular Dominicano’s total assets ended 2020 at RD$556,855 million, showing a growth of 16.5% concerning the close of the previous year, informed its chairman of the Board of Directors, Marino D. Espinal.

In his report to the shareholders’ meeting, Espinal indicated that the net loan portfolio resulted in a balance of RD$340,143 million, with an increase in credit facilities of RD$25,117 million, equivalent to 8%. The growth was mainly directed towards productive activities, which helped maintain the economy’s dynamism in a difficult period.

The Annual Ordinary General Shareholders’ Meeting was held last Saturday. It also reported the maintenance of the health of its loan portfolio, essential improvements in efficiency, adequate solvency, and liquidity, overcoming the complex health and economic scenario resulting from the Covid-19 pandemic.

During the meeting, the shareholders remembered Mr. Alejandro E. Grullón E., founder and first president of Banco Popular Dominicano and Grupo Popular, who passed away in La Romana at the age of 91, last December 15.

The meeting heard the written report of the Statutory Auditor, approved the management of the Board of Directors, and decided on the allocation of profits for the 2020 fiscal year and the distribution of dividends.

The meeting ratified Manuel E. Jiménez F., Christopher Paniagua, and Manuel Alejandro Grullón Hernández as members of the Bank’s Board of Directors. It approved the election of Mrs. Cynthia Vega as a new member of the Board for a one-year term.

BOARD OF DIRECTORS

More appointments
During the Annual Ordinary General Shareholders’ Meeting of Banco Popular, Mr. Miguel A. Lueje Cheras was appointed as Statutory Auditor and Mr. Mario Saviñón Mera Alternate Statutory Auditor for two fiscal years. The firm PricewaterhouseCoopers was hired as an external auditor for one year.