Popular is accredited as the most digital and efficient bank

He Dominican Popular Bank reported that it closed 2022 with a total of assets of RD$634,100 millionequivalent to a 27.2% growtha loan portfolio with a growth of 9.3% and a solvency of 15.76%.

When announcing the preliminary results of its organizational performance during the past year, the executives of the financial entity highlighted that these and other important indicators allowed it to reach a efficiency of 54.29%which makes them the most efficient bank in the Dominican financial system, according to the Superintendency of Banks.

They indicated that 2022 ended with a healthy growth in their business volumes and with financial indicators aligned with the international best practicesdemonstrating clear financial strength, your commitment to the constant innovation and efficiency for the benefit of customers and productive sectors, as well as determined support for communities based on its responsible banking model.

In a meeting with directors of the media and leaders of public opinion, Christopher Paniagua, executive president of Banco Popular, expressed: “We have 59 years of institutional life, in which we have stood out as a catalyst for the development of the nation, supporting families and companies in a sustainable environment. That is our corporate purpose. It’s part of our DNA.”

Quantitative indicators
Paniagua reported that Banco Popular concluded 2022 experiencing healthy sustained growth, with assets that grew by RD$27.200 million, for a total amount of RD$634.100 million. In the last five years, the organization has doubled its size while maintaining excellent portfolio quality, efficiency and profitability indicators.

Popular’s growth in 2022 was the result of its support for the productive sector and families, with a growth of the loan portfolio in RD$34,400 million, 9.3% morefor a total portfolio balance of RD$402,800,000.

The sectors with the highest growth in the net portfolio in 2022 were mortgages, which grew by 13%; loans to SMEs increased by 14% and consumer loans, 18%.

In the mortgage segment, Popular achieved that 4,550 Dominican families had their home, of which 72% purchased low-cost housing. This meant that the mortgage portfolio recorded disbursements of RD$20,000 million.

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The financial organization awarded more than 26,500 loans to small and medium-sized companiesfor an average amount of RD$1.8 million each.

Regarding consumer loans, more than 330,000 credit facilities they helped energize the economy and enabled clients to fulfill their dreams and goals.

Sanitation and efficiency
As Paniagua explained, the growth of the portfolio was achieved while maintaining excellent levels of quality, closing the year with a 0.59% past-due portfolio, the lowest in the market, and provision coverage of 545%, indicators that reflect healthy growth. of the organization and which are much lower than the average for Latin American banks.

Technical equity closed at RD$80,588 million, an increase of 16.5% compared to 2021and the solvency index on that patrimony stood at 15.76%, which represents almost 60% more than what the regulations require.

“Just as we saw the strong support we have in portfolio provisions, we see great strength in our solvency that prepares us for future growth. It is part of the trust formula that we have built for years and that we are going to maintain,” said Paniagua.

The executive president of Popular also pointed out that these results were achieved while the bank continued on its path of efficiency, accelerating the digital, operational and human talent transformation that has led the bank to be the most efficient in the market, with a indicator of 54.3%, 11 percentage points less than three years ago and 10% less than the market average.

Efficiency of 54.3%
The executive president of Popular also pointed out that these results were achieved while the bank continued on its path of efficiency, accelerating the digital, operational and human talent transformation that has led the bank to be the most efficient in the market.

 

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