The international magazine Global Finance recognized the Banco de Reservas of the Dominican Republic as the Best Bank for Small and Medium Enterprises in the Caribbean region.
To grant this distinction, Global Finance evaluated dozens of financial institutions and compared their innovative actions over the last year to favor SMEs, their determination to ensure their rapid recovery and improve the quality of services, as well as new technological platforms, investments strategies, industrial alliances and the percentage of loans issued to this sector.
In assessing this award, the general manager of Banreservas, Samuel Pereyra, ratified the financial institution’s commitment to all the country’s productive sectors, which in the case of SMEs represent one of the main sources of employment and, therefore, are great drivers of the national economy. He also referred that Banreservas provides around 24.4% of the total credit received by MSMEs in the Dominican banking sector (market share) and contributes more than 56% to the year-on-year growth of credit to these companies. “The bank’s contribution to medium, small and micro companies is essential, since every day they have a greater number of entrepreneurs who have great initiative, creativity and a broad business mentality,” said Pereyra.
When comparing Banreservas with other banks in the Caribbean region, Global Finance valued the detail of the offers made to SMEs, including the type of loans, the commercial, financial and tax advisory services, the strategic operational alliances with consultancies and the locally run programs.
