Before the departure of a banking entity from the system, the Association of Multiple Banks of the Dominican Republic (ABA) reaffirmed the sector’s commitment to transparency, best prudential and banking practices, as well as compliance with the current regulatory framework.
He stressed that, as a result of good asset and wealth management, over the years, the Dominican Republic has a solvent multiple banking system, with strong assets and that occupies leadership positions at the regional level in terms of liquidity, profitability and low delinquency. , evidenced in its performance indicators.
The ABA stated, through a statement, that these results constitute evidence of confidence in the national banking system.
He recalled that, according to the 2020 Financial Stability Report, published by the Central Bank last year, banks as a whole have sufficient strength to overcome any adverse scenario that may arise in the short and medium term.
The ABA reported that, at the end of 2021, the net worth of multiple banks operating in the country closed with a value of RD$236,140 million, for an annual variation of 17.9%, which in absolute terms is equivalent to an increase of RD$35,804 million compared to 2020.
The union explained that this reaffirms the efforts of banks to increase their equity through reserves or capitalization of profits generated, strengthening their level of solvency, which is currently well above what is required by Law No. 183-02, which approves the Monetary and Financial Law.