The financial system assets amounted to RD$2.76 trillion (51% of GDP), for a nominal inter-annual growth of 14.3%, between January and March of this year, according to data from the Quarterly Report on the performance of the financial system, published by the Superintendency of Banks (SB).
The solvency index is 17.4%higher by 7.4 percentage points than the minimum requirement of 10% established in the Monetary and Financial Law No. 183-02.
As of March 31, technical equity shows a healthy trajectory, with un increase of RD$310 billionfor an increase of 12.3% in relation to the same period of the previous year.
The deposits totaled RD$2.12 billion (39.3% of GDP), presenting a year-on-year growth rate of 15.3%.
As of March, the credit portfolio amounted to RD$1.45 billion (26.8% of GDP), showing a growth of RD$189,709 million compared to the same period in 2021.
Within that category, the portfolio at private sector experienced a year-on-year growth of 12.6%. Loans directed to the public sector showed a growth of 0.6% compared to the previous quarter.
According to type of currency, the share of the portfolio to the private sector in pesos was placed at 80.9%decreasing 0.8 percentage points from March 2021.
Arrival of remittances to the DR exceeded US$4,000 MM
The arrival of remittances to the country between the months of January and May 2022 reached US$4,057.2 million, US$336 million lower than last year, but US$1,186.9 million higher than the first five months of 2019, previous period to covid 19 pandemicand in which in USA The aid schemes that were implemented after March 2020 and that ended in September 2021 were not yet available, a reason that justifies the decrease verified this year in relation to the previous one.
According to the report of Central Bank of the Dominican Republic (BCRD)in the month of May 2022, remittances totaled US$851.2 million, 82.6 million less than in the same month of 2022.
It adds that these figures and assets reaffirm that there is a new level of monthly remittance flows of around US$800.0 million.
