Dominican Republic
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BANKING

Dominican Republic

Awards of Excellence

Latin American regional awards


Best Bank: Banco Popular

On March 31 2007, Banco Popular had total assets of $3.46 billion compared with $3.36 billion at the end of 2006. Overall, total assets rose by 15.4% last year. The total loan book at the end of the first quarter of 2007 was $1.8 billion, compared with $1.72 billion at the end of 2006. The total net consolidated profit in 2006 was $67 million, an increase of $11.65 million, or 17%, on the previous year.

During 2007, the bank plans to invest $46 million in new technology, improvements to internet banking and telephone banking services, new products and more ATMs. It says it has a series of strategies in place to meet the needs of the marketplace and to satisfy the growing expectations of its customers.

The country’s biggest bank and one of Banco Popular’s biggest competitors, Banco de Reservas, now has total assets of $3.75 billion (34% of the banking system’s total assets), double the amount it held in 2004. The bank had a net profit margin of $81 million between January and May this year.


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