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Santo Domingo.- The Popular bank closed 2011 with assets of RD$205.5 billion, RD$27.0 billion (US$710.5 million) more than the RD$178.5 billion in 2010, a jump of 15%.

Popular also posted gross utilities of RD$5.24 billion, or RD$1.31 billion after paying the Tax on Income.

Popular president Manuel A. Grullón disclosed the figures Monday, noting healthy growth of its main indicators at the close of 2011, despite the negative impact of the new 1% tax levy, calculated at RD$800 million on the bank’s results.

Grullon said Popular’s net loans portfolio climbed to RD$126.5 billion, with a growth of around 16%, or RD$17.3 billion higher than the same 2010 period, when it closed at RD$109.2 billion.

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COMMENTS
13 comment(s)
Written by: DONT_BE_SILENT, 24 Jan 2012 9:59 AM
From: Dominican Republic, NEVER FORGOTTEN, NEVER FORSAKEN!
Who is to blame for this?

The Purple ones are at it again, right Josie?
Written by: lcabrera, 24 Jan 2012 1:12 PM
From: United States
While people's pockets keep getting smaller.
Written by: Ricardolito, 24 Jan 2012 1:21 PM
From: Dominican Republic, vieja Santo Domingo
fantastic news that we have a good solid bank that is growing and has lent more by 16% and has been paying a good tax to the government for the various projects ....Far better economy here than in most of Europe
Written by: josean, 24 Jan 2012 1:23 PM
From: United States, Show your Love for DR Vote AGAINST the PLD!

"Written by: DONT_BE_SILENT, 24 Jan 2012 9:59 AM
From: Dominican Republic, NEVER FORGOTTEN, NEVER FORSAKEN!
Who is to blame for this?

The Purple ones are at it again, right Josie?"


Yes!!!!!!!!!!!!!! For allowing loan shark interest rates!
Written by: anthonyC, 24 Jan 2012 4:04 PM
From: United States
Josie,

It is called the FREE MARKET.

It works


You should look into it instead of being such a Jealous putz!
Written by: josean, 24 Jan 2012 4:21 PM
From: United States, Show your Love for DR Vote AGAINST the PLD!

Actually I am looking for a Timex at “Alpha 66 Watches.com!”

Fibber!
Written by: josean, 24 Jan 2012 4:42 PM
From: United States, Show your Love for DR Vote AGAINST the PLD!

"Unfair competition in a sense means that the competitors compete on unequal terms, because favourable or disadvantageous conditions are applied to some competitors but not to others; or that the actions of some competitors actively harm the position of others with respect to their ability to compete on equal and fair terms. It contrasts with fair competition, in which the same rules and conditions are applied to all participants, and the competitive action of some does not harm the ability of others to compete. Often, unfair competition means that the gains of some participants are conditional on the losses of others, when the gains are made in ways which are illegitimate or unjust."

Written by: DONT_BE_SILENT, 24 Jan 2012 4:52 PM
From: Dominican Republic, NEVER FORGOTTEN, NEVER FORSAKEN!
down with Leo.
Written by: Ricardolito, 24 Jan 2012 5:38 PM
From: Dominican Republic, vieja Santo Domingo
I have just finished reading the press release suggesting we are heading for very dire times especially because of the euro zone ..butyet they are still forecasting world growth .How good it is our banks are strong here in the DR when compared to those in Europe especially those who have lent heavily in Spain and Italy ,,
Written by: RoyStone, 24 Jan 2012 8:25 PM
From: Australia
anthonyC,
If the free market operates in the Dominican Republic, where are all the international banks we see in other countries? Why are they so conspicuous by their absence?
No way could Popular compete on a level playing field.
Written by: anthonyC, 25 Jan 2012 12:54 AM
From: United States
RoyStone,

Small Banks can do quite well in the face of larger competition. I see it all the time but I agree I would like to see a more open banking system in the D.R.

Even still Banco Popular has competed and succeeded against the other D.R. banks.
Written by: RoyStone, 25 Jan 2012 3:39 AM
From: Australia
With most banks you can see what interest rates they pay on the internet or a poster at the front door. Not here. When you ask, they take you into an office, look at a sheet hidden in their bottom draw, then scribble on a piece of scrap paper. I don't call that "open competition".
Written by: Vivacuba, 26 Jan 2012 3:38 AM
From: Dominican Republic
big, bigger, biggest, BUST
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