Awards for Excellence 2008: Dominican Republic
Best bank: Banco Popular Dominicano
Banco Popular Dominicano continues to excel in the Dominican Republic and is the leader in the retail market. In 2007, the bank completed a subordinated debt issue raising RD$4.1 billion ($125 million) and carrying a 10-year tenor. The decision to raise money was driven by an interest in increasing its capital base to support growth. The deal is the largest issue made by a financial institution in the Dominican Republic and enabled the bank to grow its loan portfolio and achieve a capital adequacy ratio of 14.3%.
Total assets crossed the $4 billion barrier this year, up 19%, while total net income rose 18.3%