Bank Promericathe entity with the highest growth in multiple banking in the last three years in terms of loan portfolio and assets, received a increase in risk rating from “DOA-” to “DOA” with a stable outlook, by Pacific Credit Rating (PCR), a company specialized in Financial Ratings with international coverage.
With this new improvement in its risk rating, Banco Promerica achieves the second improvement in its risk rating in the last two years, which represents a recognition of the outstanding trajectory of the institution within the Dominican financial system.
The Risk Rating Committee decided to increase the rating of Banco Promerica due to the steady pace of revenue growthas well as the performance of its commercial, consumer and mortgage loan portfolios, in addition to having excellent delinquency and overdue portfolio ratesranking among the lowest among commercial banks at the end of the third quarter of 2022.
This improvement in the risk rating also considered the track record and support of Promerica Financial Corporation (Grupo Promerica), parent company of Banco Promerica Dominican Republic, says a note from the entity.
Good performance
The executive president of Banco Promerica, Carlos Julio Camilo, said that the excellent evolution of financial and strategic performance has allowed them to reach very favorable levels of quality in their assets, and to grow in all their business branches.