BANKING - Banco Popular Dominicano's assets grew by 11.1% in 2018

Banco Popular Dominicano announced that it closed the year with a balance sheet total of RD $ 423,816 million, corresponding to an increase of 11.1% and represents RD $ 42,307 million more than that obtained in 2017.

"This good performance is derived from continuing to improve the efficiency of operations and increasing business volume as a result of strengthening a business model focused on the customer, with differentiated attention according to the needs of each segment and with avant -garde digital solutions that make their lives easier, "said the president of the financial entity, quoted by a press release.

Manuel A. Grullón stressed that this implementation also made it possible to maintain the quality of the assets and to end again with the lowest delinquency ratio of the Dominican banks, which is 0.99% of the total portfolio, with a coverage of the coverage of 202.7%.

Increase in loans to productive sectors

The president of the Banco Popular and Popular Group emphasized that the net loan portfolio increased by RD $ 35.244 million in 2018, allowing the year to be closed with a balance of RD $ 279,953 million in loans. 77% of the increase registered in credit facilities was used to finance productive activities of the economy.

On the other hand, Mr Grullón reported that the bank closed the year 2018 with a total of RD $ 336 745 million in deposits, which reached the amount reached at the end of 2017 by RD $ 31.243 million.

In terms of gross profit, the bank manager reported that the Popular RD earned $ 11,554 million, resulting in a net profit of RD $ 8,563 million, after reducing the amount of $ 2,991 million related to the income tax payment.

Mr. Grullón recalled that last year Banco Popular had ratified his AA + solvency ratings by the risk companies Fitch Ratings and Feller-Rate, which are the bank's good positioning, its ability to generate activities and risk management, strengths with a long-term perspective.

Important business initiatives

Leveraged in the digital leadership strategy in the Dominican banking sector, Banco Popular continued to strengthen its technological infrastructure in 2018 with new storage equipment and a new cybersecurity monitoring center. It has also opened its Digital Center, a space at the forefront of banking trends in the country. Digital transactions in 2018 represented 77.8% of total transactions and more than 1.5 million customers are affiliated with one or more of the digital channels of the financial institution.

Mr. Grullón added that the bank continued to promote entrepreneurship, innovation and co-creation of products and services among university students, with programs such as Impúlate and Popular Challenge, as well as financial education for high school students via Banquero Joven and corporate responsibility. sustainability initiatives such as the Excelencia Popular scholarship program. At the end of 2018, 27% of Banco Popular's customers, about 390,000, were less than 30 years old and had sales of more than RD $ 17,000 million.

National and international recognitions

Mr. Grullón recalled that the results of 2018 reflect a consistent human management policy for the nearly 8,000 employees and a dynamic work model based on advances in digital banking, where the customer is always central to the business initiatives.

He added that, thanks to his numerous contributions to society, his culture of service and the good practice model of Corporate Governance, the Popular Returned to receive various national and international recognitions, including the Best Bank of the Year stands out for the magazines The banker and Latin Finance, Best Managed Bank in the Caribbean Euromoney, Best Investment Bank and Best Foreign Exchange Provider for Global financeand one of the 25 leading companies in Central America and the Caribbean are through the magazine summa and the consultant Korn Ferry. He also emphasized the recognitions as Best Digital Bank and the Best Financial Application in the country of World fundingas well as the choice by the magazine market as "The best company to work for", for employee training, job offers and leadership in generating female jobs.

Social and ecological investments

The president of Banco Popular and Grupo Popular have indicated to the media leaders how the financial organization not only touches the lives of its customers with its products and services, but also that of hundreds of thousands of people through its responsibility initiatives. business social and sustainability.

"On January 2nd Banco Popular reached its 55th anniversary in the institutions and during this time we have contributed to the democratization of financial services and the economy of the country, with thousands of success stories from people and companies. vocation to pay more attention to the impact of financial inclusion and education, saving culture and innovative ideas that promote the sustainable development of the nation economically, socially and ecologically, "he said.

In this order he emphasized the 58,000 people who participated in the financial education talks and workshops "Finances with Purpose" or the 350,000 customers, many of which have not been paid, who carry out their financial transactions through the more than 2135 traders who are affiliated with the network. Popular subagent.

With regard to socially responsible investment, Mr Grullón said that the Popular Group allocated more than RD $ 400 million last year to various initiatives in the field of environmental sustainability and social responsibility.

One of the projects is distinguished by the collaboration with the Plan Sierra, the programs of ecoeficiencia and photovoltaic energy, scholarships, masters in RSE and sustainability, days of reforestation in the geographical area of ​​the Plan Sierra, support of the construction from humedales works of art, aqueducts and hydropower plants.

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