Success for the Dominican financial services sector

The International Monetary Fund (IMF) has lauded the Dominican Republic for the impressive performance of its economy, reflecting sufficient effort put into policymaking, implementation, financing, public-private partnership, and other factors that make for a growing economy.

Figures have shown that the Dominican Republic has its financial services sector to thank for most of the growth the economy has witnessed. The Esteban Vesperoni-led IMF team referred to the country as being one of the m0st “dynamic economies” in Latin America.

As regards the financial sector, Banco Popular Dominicano is considered the most committed in terms of support, investments, and financing provided towards the growth of the economy. 

The bank has a broad cross-sector exposure, including agriculture, construction, education, health, renewable energy, SMEs, and tourism. The bank has been a driving force in ensuring that the economy’s growth is not only continuous but also diverse, particular in a pandemic-hit world.

Its contribution has also helped the stance of the bank itself, rising to become a major contender in the banking industry with total assets at the close of 2020 valued at $9.7bn, a 16.5% increase compared to 2019.