Ratification of A+ rating for Banesco Banco Múltiple

Banesco Multiple Bank was ratified with national rating A+(dom), with a stable outlookby the renowned risk rating agency Fitch Ratings.

This score assesses seven key aspects, including sustained improvement in performance, stable portfolio quality, reputational risk, income and risk diversification, adequate capitalization, funding, and liquidity.

The international agency also reaffirmed the short-term ‘F1(dom)’ rating and gave them, for the first time, the ‘A-(dom)’ rating for debt issues subsidiary of the financial institution. One of the great milestones reached by Banesco was its foray into the stock market in 2021, with the placement of one billion pesos in subordinated debt bonds for institutional clients.

Maria Clara Alviarez executive president of the banking entity, assessed the rating received by Fitch Ratings, while reiterated the commitment to continue contributing to the development of the country’s financial sector.

“By having healthy financial and risk indicators in our business model, we have been able to generate an environment of trust with our clients and regulators, which has affected the growth of our operations and the recognition of the risk rating agency Fitch Ratings. Alviarez said.

The risk management ratified by the Fitch rating and the strategies implemented by Banesco have allowed, At the end of the first half of 2022, consolidate RD$42 billion in assets, RD$29 billion in deposits and RD$2.9 billion in equity.

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