The Banco Popular Dominicano will have a prominent participation in the 42nd edition of the International Tourism Fair (FITUR), in the framework of which the bank will highlight its leadership as the main historical financier of tourism and its role as a dynamic agent for the recovery of tourist activity in the country.
Specifically, the Banco Popular delegation present at FITUR will exhaust thirty meetings with international investors and hoteliers with interests in the Dominican Republic. In these meetings, business plans and expansion projects are evaluated, as well as the commercial relationship with each client is strengthened in a particular way.
The FITUR international tourism fair also serves as the stage for the announcement of impact initiatives, with the expectation that this edition will mark milestones in national tourism as the Dominican Republic is a partner country in 2022.
El Popular is one of the promoters of changes in favor of the sector, since its financial support represents almost half of the tourism financing portfolio of all Dominican banks.
Recovery after the pandemic
As of September 2021, Popular’s loan portfolio for tourism amounted to more than 44% of the financing granted by the entire national financial system, with about 800 clients, distributed throughout the value chain that makes up this sector.
Since the start of the pandemic, in support of its hotel customers, the bank has deployed a set of stimulus initiatives, including deferral of installments, debt consolidation, refinancing and restructuring, increased guarantee coverage and new capital facilities of work, both for specific operations and for financing new projects.
In addition, Popular supports the sector with personal financial education courses and workshops for the workforce of its hotel clients, within its sustainable vision and responsible banking model.
The financial institution also regularly participates in national and international tourism forums, such as FITUR, considered the first annual event for world tourism professionals and the leading trade fair for receiving and issuing markets in Ibero-America.