The consolidated performance of the Reserve Bank makes it an engine of the Dominican economy and its assets represent 33% of the banking’s total assets.
The Reserve Bank’s net loan portfolio increased 77.3% in the last four years, going from RD$305,429.3 million in December 2020 to RD$541,370.4 million as of June 2024, with an absolute expansion of RD$235,941.0 million.
And the gross credit portfolio registered RD$563,664 million last month, for an increase of 12.8% compared to September 2023. Of these resources, 94% are allocated to the private sector and 6% to the public sector.
These figures make the institution the leader in the national commercial banking credit portfolio, resources that support the country’s productive activities, various business and personal projects, stated the executive president of Banreservas, Samuel Pereyra.
“This extraordinary performance has consolidated the Reserve Bank as the engine of the Dominican economy, promoting employment, industry and the creation of infrastructure throughout the country,” he said.
He highlighted that the bank’s assets grew 69% between 2020 and June 2024. As of September, they amounted to 1 trillion, 208,844 million pesos, which compared to September 2023, increased by RD$55,455 million, for a year-on-year increase of 4.8%.
“This reflects a robust expansion in operations and efficient management of its resources, positioning it as number one in the national financial system, with a share of total assets rising to 33.0%.”, he expressed.
He explained that financing for the livestock, agriculture, hunting and forestry sectors went from RD$4,494 million in 2020 to RD$4,14,398 million as of June 2024. In the same period, credits to the manufacturing industry went from RD$20,473 million to RD$31,972 million. And to date they have supported investments of more than US$1,217 million for the tourism sector.
The construction sector received loans for RD$14,888 million in 2020 and June 2024 were RD$36,939 million. In addition, there was RD$10 billion for this year’s rice pledge and the same amount last year.
These details were shared by Pereyra when presenting the achievements of his management at the head of that financial entity, indicating that the Bank’s total deposits were RD$560,100.7 million in 2020 and in June 2024 they experienced an absolute increase of RD$356,615 million, equivalent to 63.7 %, up to RD$916,716.2 million.
Pereyra expressed that this reflects the trust of clients in the institution and the success in the implementation of recruitment strategies by the business team, which in September 2024 totaled RD$958,908 million, for an increase of 3.9% in relation to that same month of 2023.
“These figures make us the leader in deposits in the national financial system,” he said.
Heritage
Other data shared by Pereyra is that Net Worth in the last four years experienced an absolute increase of more than RD$62,306, equivalent to an increase of 132.2%. “What has never been seen in the history of the national banking system and the Bank itself, the result of the institution’s own efforts, demonstrating its ability to generate and retain value,” he said.
In addition, the Bank’s total deposits, between December 2020 and June 2024, experienced an increase of 63.7%, some RD$356,615 million more. “It reflects the trust of clients in the institution and the success in the implementation of acquisition strategies by our formidable business team, which in September 2024 totaled 958,908 million pesos, for an increase of 3.9% compared to that same month of 2023.
