Economy November 28, 2023 | 2:46 pm

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Banreservas credit portfolio exceeds RD$500 billion

Santo Domingo.- The Reserve Bank of the Dominican Republic (Banco de Reservas) has achieved a landmark success by growing its credit portfolio to over RD$500 billion, setting a precedent as the first Dominican bank to reach this threshold. As reported by the bank’s General Administrator, Samuel Pereyra, the portfolio stood at RD$509.29 billion as of last October, reflecting a substantial increase of 20.3% compared to the same month in 2022. This growth is primarily driven by the bank’s focus on the private sector, which constitutes 93% (RD$473.41 billion) of the total portfolio, while the public sector accounts for the remaining 7% (RD$35.88 billion).

Pereyra emphasized the bank’s commitment to supporting the country’s productive sectors, highlighting its significant contributions to tourism, manufacturing, and industry. In addition to these sectors, the Reserve Bank has also channeled funds into commerce, consumer spending, mortgages, real estate, and credit card services. These areas have experienced a growth rate of 15% to 33% over the last year. The bank’s diverse investment strategy includes financing for construction, manufacturing, hospitality, health services, education, and transportation, among others.

The financial stability and performance of the Reserve Bank are also noteworthy. Its Solvency Index has maintained a steady rate of 14.3%, and there has been a decrease in loan delinquency, dropping from 0.8% to 0.7% over the past year. The bank’s achievements extend beyond financial growth, as it has gained recognition both nationally and internationally for its contributions to key sectors, technological innovation, digitalization efforts, customer service quality, and social responsibility programs.

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