Fitch Ratings improves Banreservas outlook

The international rating agency Fitch Ratings, at its December credit decision review meeting, improved the outlook for the Reserve Bank from Negative to Stable, maintaining the rating at ‘BB-‘.

The decision was based on two aspects, the first of which consisted of the internal factors of the financial institution, its strong competitive position in the market and the business profile of the entity as the largest bank in the country and leader in the Commercial and Consumer segments.

The second pillar in the rating issued by Fitch Ratings is supported by external factors favorable to the Dominican economy, valued with a Review of the Sovereign Outlook from Negative to Stable; as well as the Outlook for the Dominican Banking Sector, revised from Negative to Stable.

In addition, high concentrations of Banreserva assetss and the lowest risk weight in this line.

“The quality of Banreservas assets improved recently, reflecting a better performance of the commercial and consumer segments.”

He added that there was also an improvement in the expansion of the loan portfolio.

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