Santo Domingo.- He Santa Cruz Bank has been rated ‘A+(dom)’ and has a Positive Outlook by Fitch Ratings. This recognition highlights the bank’s solid profitability and favorable financial prospects.
This assessment reflects the robustness of the company’s profitability. financial institutionbased on adequate portfolio quality and a conservative approach to provisioning.
The rating agency also noted that operating conditions are conducive to solid performance in the Dominican banking system, with stable interest margins and good credit growth.
In the report, Fitch added that Banco Santa Cruz stands out for its diversification in the commercial segment, achieving a market share of 4.4%, which positions it as the fourth institution in the financial system.
It has also maintained effective control of non-performing loans, with a portfolio overdue by more than 90 days of only 1.9% as of March 2024, comparing favorably with its competitors.
Finally, Fitch Ratings assured that the bank maintains a stable funding structure and adequate liquidity, with a loan-to-deposit ratio of 76.3% as of the first quarter of 2024. Likewise, it highlighted that the financial institution follows a business model focused on the commercial segment, with adequate diversification in consumer and mortgage loans.
About Banco Santa Cruz
Banco Santa Cruz, positioned as the fourth institution in the financial system, offers its clients a complete portfolio of products and services, as well as a business relationship proposal with personalized attention, which identifies the best profitable opportunities for its clients based on trust and controlled risks.
