The total assets of commercial banks reached RD$2 billion 535,455 million as of June 2022, reflecting an increase in absolute terms of RD$104,569.8 million and in relative terms of 4.3%, reported the Association of Multiple Banks of the Dominican Republic (ABA).
He pointed out that although this growth was slightly lower than that shown in the same period of 2021 (7%), the expansion of credit continues in support of the productive sectors of the national economy, a line that has been recovering since 2021, after the crisis due to the covid-19.
The union also highlighted the level of solvency exhibited by multiple banks, whose indicator stood at 14.75% as of May 2022, well above the 10% required by the Monetary and Financial Law.
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Meanwhile, as of June 2022, this sector represented 88.5% of the total assets of the Dominican financial system, according to statistics published by the Superintendence of Banks.
Regarding the total gross credit portfolio of multiple banks, the union reported that there was an increase of RD$93 billion, going from RD$1 billion 204.402 million in December 2021 to RD$1 billion 248.534 million as of June 2022 He pointed out that, in relative terms, growth was 7.7%, higher than the 5.9% registered in the same semester of the previous year.
The ABA specified that, within the total portfolio, the private sector credit increased by RD$73,139 million, showing an increase of 6.3% during the first half of the year, supported mainly by the channeling of resources destined for the acquisition of homes, hotels and restaurants, consumer loans, wholesale and retail trade, manufacturing industry, microenterprises, construction, electricity, gas and water, among others.
And there is evidence of an increase of RD$74.5 billion in Bank depositswith a growth of 4.1%, for a total of 1 billion 879,971 million at the end of the semester.
