$ 829,011 million total Banreservas assets;  cite other achievements
The administrator of Bagrícola held a meeting with media directors.

The Reserve Bank reported yesterday that it consolidated its position as the largest financial institution in the country, with assets totaling RD $ 829,011 million, while registering an extraordinary performance in the other financial variables, at the end of last September.

The information was offered by the general manager, Samuel Pereyra, when he presented the main financial indicators of the Bank in a document that he gave to the media directors, during a lunch to commemorate this month the 80th Anniversary of the entity. The document specifies that “the Subsidiary Companies of the Reserve Bank have also performed during this first year of management with a level never seen before, so that their impact on the Bank’s results, at the end of this fiscal year, will represent a contribution without precedents during the first nine months of this year ”.

He adds that the extraordinary performance achieved by Banreservas is developed together with the Bank’s social commitment work, which has become the main executing arm of government policies to mitigate the effects of the pandemic on the vulnerable population. “Regarding deposits, we lead the bank reaching a sum of RD $ 676,361.2 million as of September 2021,” he explains.

Cost effectiveness

The document, which analyzes the main achievements of the bank between August 2020 and September 2021, establishes that the profitability of the assets –ROA– was positioned at 2.3%, for a growth of 31.9%, versus December 2020; and the behavior of equity –ROE– at 33.7%, for a growth of 35.7%, with respect to the same period.

It specifies that the Net Interest margin of Banreservas registered 8.6%, equivalent to a growth of 13.9%, compared to December 2020, while the efficiency closed at 54.2, showing a decrease of 16.3%, compared to December 2020. The delinquency rate reached 1.4%, and the coverage for possible default risks stood at 464.3.

US $ 220 million for hotel complexes

The Reserve Bank indicated that it has served as a firm ally of tourism, channeling credits for more than US $ 300 million, for six large producers, which have a total investment of US $ 670 million. Of these amounts, more than US $ 220 million have been approved for the start-up of four hotel complexes that will provide 1,294 rooms.

Leave a Reply