The financing to the purchase and remodeling of households in the Dominican Republic it registered an increase of 41.3% in the last five years, that is, RD$48,928 million, reported today the Association of Multiple Banks of the Dominican Republic (ABA).
Consequently, it indicated that the portfolio went from RD$118,488 million in 2017 to RD$167,415 million at the end of 2021.
At the end of 2021, the portfolio of financing destined for the acquisition and remodeling of households totaled RD$167,415 million, a figure that implied a growth of 12.1%, equivalent to RD$18,033 million more than the previous period.
The ABA detailed that said multiple banking credit segment went from RD$149,382 million in December 2020 to RD$167,415 million in December 2021.
The union stated that a total of 72,647 credit operations were registered, with an increase of 4,182 new operations of loans during the last year, according to an analysis of the entity based on data from the Superintendence of Banks.
“An element to highlight is that approximately nine out of 10 loans (89.7 %) were intended for the purchase of households of the debtor, with a total of RD$150.220 million”, stated the ABA in a press release.
The association that represents multiple banks added that RD$7,822 million (4.7%) were intended for the purchase of a second home or vacation home; meanwhile, the loans for the purchase of households of low cost proceeds from a trust were RD$7,172 million (4.3%).
Meanwhile, the credits for the remodeling of the debtor’s home totaled RD$1,969 million (1.2%) and those destined for the construction or remodeling of the second or vacation home, RD$232 million (0.1%), broken down the ABA.
He highlighted that multiple banks represent 66% of the total mortgage portfolio in the financial system, which is evidence of the contribution and importance that banks give to improving the quality of life of financial users and reducing the deficit. housing in the Dominican Republic.
