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Banco Popular was recognized as the Best Real Estate Bank in the Dominican Republic by the prestigious financial magazine Euromoney
Santo Domingo — Banco Popular was recognized as the Best Real Estate Bank in the Dominican Republic by the prestigious financial magazine Euromoney. This recognition highlighted Banco Popular's leadership in the real estate and construction market and its commitment to the development of the sector in the country.
The magazine, based in England, has been awarding this award for 27 years, although this is the first time it has been awarded to a bank from the Dominican Republic.
In its analysis, the magazine assesses the financial performance of Banco Popular in the real estate sector. It observed a market share of 31.2% in mortgage loans and 34.5% in the commercial portfolio dedicated to the construction sector.
During the last twelve months, Banco Popular's mortgage portfolio grew by 13%, reaching RD$62,000 million. This has benefited more than 3,500 clients, with RD$17,229 million disbursed.
Likewise, construction loans registered a 41% increase in approvals, which exceeded RD$12,622 million. Meanwhile, disbursements amounted to RD$17,710 million, benefiting more than 355 clients.
Boost to the sector
Euromoney magazine recognized Popular's innovative strategies and ability to drive growth in the real estate and construction sector through alliances with construction companies and real estate agencies.
In the last five years, the institution has facilitated more than RD$41.2 billion in mortgage loans and approved more than RD$22.8 billion in construction loans, positively impacting the national economy.
Innovation and sustainability
Euromoney highlighted Popular's technological leadership and the strategy of using its digital channels to facilitate the operations of real estate developers and buyers, improving the efficiency and experience of its clients.
Sustainable development
A press release highlights that the magazine cited the bank's commitment to sustainable development, allocating RD$2.8 billion to compliance with the UN Responsible Banking Principles, including RD$56 million in loans for homes certified as sustainable.
Valuation
When referring to the recognition, Popular's executive president, Christopher Paniagua, highlighted how the award highlights the bank's efforts to “offer innovative and sustainable solutions that add value to its clients and the development of the Dominican Republic.”