Bank debtors return to pre-Covid levels

At the end of June 2022, the Dominican financial system had recovered the 130,000 lost debtors during the months of confinement due to the Covid-19 pandemic.

This was reported by the Superintendent of Banks, Alejandro Fernández W., during his presentation of achievements regarding the two years of his administration.

The data shared by the official indicates that the number of debtors of the Dominican bank, which was 2.06 million at the end of December 2019fell to its lowest point in April 2021 (1.93 million, for a loss of 130,000), and rebounded to 2.07 million in June 2022, with a bullish outlook.

Fernández W. explained that the Creole financial system exhibits one of the lowest levels of credit risk in Central America, with the highest coverage of non-performing loans, less delinquency and the greatest acceleration in the growth of provisions in the entire region.

As of June 30 last, the loan portfolio was placed at RD$1.52 billion, registering a growth of 19.6% compared to August 2020. As for the total assets of the system, they grew 27.6% in the same period, going from RD$2.25 billion to RD$2.87 billion.

“As a banking supervisory body, we can feel satisfied and participate in these results. The reality could be different if a proactive supervision of the quality of the system’s assets had not been carried out during these two years, ”said the Superintendent of Banks during his speech.

He also recalled that the implemented strategy was positively valued by the International Monetary Fund (IMF) in your most recent report.

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The Superintendent of Banks highlighted the actions to ensure the integrity of the financial system. He cited that the institution has provided continuous support to the Public Ministry, the Judiciary and the Chamber of Accounts.

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