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SANTO DOMINGO.- Popular, Dominican Republic’s biggest bank closed the first half with net earnings of RD$1.8 billion (US$486 million at the 37 to 1 rate) or RD$379 million more than the RD$1.4 billion in June 2009, a growth of 27%.

In a statement, Popular said its total assets rose by RD$9.98 billion, 6% more than the 2009 close, mostly on a RD$7.4 billion jump in loans, or 8% more than yearend 2009, to conclude the period with RD$96.8 billion. “It’s important to stress that the loans portfolio reflected an index of barely 2.16% in arrears in the total credit portfolio.”

It said net investments in issues and equity jumped from RD$15.7 billion in December to RD$18.33 billion at the close of June, a 17% increase in those six months.

Popular’s total deposits grew by RD$10.4 billion to RD$144.4 billion in that period, or 8% more than in yearend 2009.

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COMMENTS
10 comment(s)
Written by: Ricardolito, 20 Aug 2010 11:41 AM
From: Dominican Republic, vieja Santo Domingo
a good solid banking system is essential in our growing economy and in these figures we can see that Dominicans are putting more into the banks by way of deposits and the bank has increased it´s loans substantially ,,,they are good pointers that we are going to continue with solid growth in the foreseeable future
Written by: sanchezgp2001, 20 Aug 2010 12:21 PM
From: United States
It's interesting how people rarely comment about good things in the DR such as this piece of news from one of the biggest banks in the country. While we know way too much about the bad stuff, the good stuff rarely makes news these days. This is having a very negative effect on the Dominican culture as a whole as we are not leveraging them to our advantage. The DR banking system is one of those good sectors that deserve credit. The DR banking system is strong and has behaved very responsibly despite the financial crises that affected most of the banks in recent years. Unlike its US counterparts the banking system in the DR never played the 'wall street' game deciding to stick with traditional banking practices instead (i.e. like checking people's credit and measuring a client's ability to pay). Due to its prudent and modest approach to growth the banking sector in the DR was able to successfully weather the storm without paying the hefty price banks in developed nations had to....
Written by: sanchezgp2001, 20 Aug 2010 12:23 PM
From: United States
...pay. Wall Street should learn a lesson or two from our banking system. Kudos to Banco Polular for a great half.
Written by: DONT_BE_SILENT, 20 Aug 2010 6:35 PM
From: Dominican Republic, NEVER FORGOTTEN, NEVER FORSAKEN!
This is a good example of our solid economy, all we need now is a president with BALLS!
Written by: jhcl2012, 21 Aug 2010 10:55 AM
From: United States
BPD, Leon, and the rest of the banks in DR are collecting "fees" for every transaction. Just last Thursday, one of these banks "earned" RD$641.65 from me just because a "check" was deposited to my account in another branch.

No wonder all the Dominican banks are always reporting excellent earnings! 'TAN ROBANDO!!!

I wish they would publish their "fees" for their "services".

:(
Written by: anthonyC, 21 Aug 2010 12:14 PM
From: United States


Written by: jhcl2012,

"BPD, Leon, and the rest of the banks in DR are collecting "fees" for every transaction. "

So? Banks are in the business to make money.

"I wish they would publish their "fees" for their "services""

Why don't you get off your lazy butt and ask?
Written by: jhcl2012, 21 Aug 2010 1:54 PM
From: United States
anthonyC:

Because they're supposed to be "regulated" institutions and must publish (a lo claro) all fees! But I get it if you don't understand...

;-)

Siempre pa'lante, nunca pa'tras!

Ahora...

*** www.plazacoral.net
*** www.facebook.com/plazacoral
*** www.dimalba.com
*** NO! A LA BARRICK GOLD
*** EMAIL: jhcl2012@yahoo.com

Written by: anthonyC, 21 Aug 2010 10:47 PM
From: United States

jhcl2012 wrote;
"Because they're supposed to be "regulated" institutions and must publish (a lo claro) all fees! But I get it if you don't understand..."

So you need the government to do the job for you?

Lets do business! Just sign right here. No need to read the contract. The Government will protect ya!!!!

HaHaHaHa...........every minute dude.......Every minute.
Written by: jhcl2012, 22 Aug 2010 8:46 PM
From: United States
anthonyC:

Now I definitely know you must be a bit backward! I can find out about their fees, fine, problem solved - one person saved. But if the goverment forces them to do it, as regulations call, then many more will be "aware" of their "illegal hidden" fees! This should be one of the responsibilities for the "Superintendencia de Bancos".

Again, I GET IT if you don't understand!

;-)

Siempre pa'lante, nunca pa'tras!

Ahora...

*** www.plazacoral.net
*** www.facebook.com/plazacoral
*** www.dimalba.com
*** NO! A LA BARRICK GOLD
*** EMAIL: jhcl2012@yahoo.com
Written by: maxsanpedro, 24 Aug 2010 5:13 AM
From: Netherlands
What an embrassment: this paper can't correctly convert Peso to US Dollar.
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