SANTO DOMINGO. - Fitch Ratings has assigned a F1 + (dom) to the State-owned bank Banreservas, with a positive outlook for its short-term national commitments, and AA-(dom) for the long term.
Banreservas’ international long-term rating in foreign currency stood at "B" with a positive outlook, a category which also remains in the short term.
Fitch stressed Banreservas’ market share, especially deposits among corporate and consumer sectors and the support by the Dominican State.
Other factors taken into account for the ratings, Fitch said, were the bank's strong capital indicators in 2011 and its stability during the first quarter this year. At the end of March 2012, Banreservas’ share in bank assets was 30.2%.
Commenting on Fitch’s report, Banreservas general manager Vicente Bengoa stressed the financial institution’s focus on strategies toward substantial improvements in the loan portfolio, and to boost profit. "With these measures, Banreservas’ management focuses its expectations on increased profits and the institution’s efficiency, to remain a leader and entity of reference within the Dominican financial system."