Feller-Rate raises biggest Dominican bank from AA to AA+
Santo Domingo.- Banco Popular Dominicano, the country’s biggest bank raised its credit ratings from AA to AA +, with a stable outlook, Feller-Rate says in its latest report.
It said Popular’s climb is based on “strong position as the largest private bank in the country and the consolidation of its strong production capacity, with stable returns and consistently above industry average, together with a good risk management of its portfolio.”
It said the Popular “has high margins, thanks to its array of diversified income and attentiveness to its segmented model.”
Feller-Rate notes that the bank’s growth, “has been gradual and sustained by establishing branches in those centers of population requiring banking services” and while maintaining its objectives as “a pioneer in financial innovations, alternative channels and products.”
The bank “is characterized by maintaining efficient remote channels, including its Internet platform and telephone banking,” says the report for April, 2016.
“This achievement by the Popular, the report adds, allows the bank to maintain long term strengths of good positioning, generation capacity and management, despite the competitive environment.”
April 27, 2016
Category: DR News |