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The Dominican Popular Bank, within the framework of its participation in the International Tourism Fair (FITUR) 2025, reported that, at the end of 2024, the balance of the loan portfolio dedicated to the tourism sector exceeded RD$96,570 million, including here contributions from Popular Bank, the banking subsidiary of Grupo Popular that operates from Panama with an international license.
The banking entity is thus positioned as a leader in financing the tourism sector, supporting the renovation of more than 30,000 rooms and the generation of 35,000 direct and indirect jobs. This support translates into sustainable and strategic projects that boost the national economy.
In 2024, Banco Popular financially supported 11 tourism projects with investments of more than US$400 million.
Operation Meliá, AFI Popular and AFP Popular
The information provided highlights that in December 2024, AFI Popular, through the Popular Closed Fund for the Development of Companies, using funds from AFP Popular, acquired 25% of the Meliá Paradisus Palma Real Golf & Spa and ZEL Punta Cana hotels in Dominican Republic, through the subscription of ordinary shares in these subsidiaries. The amount of the investment was approximately US$63 MM.
It is a great financial innovation in the tourism field, unprecedented for the Meliá chain, which emphasizes the synergies between Grupo Popular companies to support the sector, in accordance with the changes in the tourism business model.
Future projections
El Popular has more than 15 projects under evaluation for the next two years, with a projected investment of more than US$1.6 billion. This financial support will impact the creation of more than 7,000 new rooms and will generate more than 6,000 direct jobs and 20,000 indirect jobs.
This information was offered during a meeting with members of the press, which was led by the executive president of Popular, Christopher Paniagua, who reaffirmed the close support that the banking entity has dedicated to tourism for more than three decades.
“We were the first financial institution in the country to clearly identify the potential of this sector as a job creator, a magnet to attract investments and an engine of national development. The vision with our tourism allies has always been committed to excellence, oriented to economic dynamism and diversification, and focused on sustainability,” said Mr. Paniagua.
At FITUR 2025, Popular has scheduled more than 40 meetings with leaders and key players in the sector to strengthen strategic alliances, promote investments and diversify the Dominican tourism offer.
Present alongside Mr. Paniagua were René Grullón, executive vice president of National and International Business; Antonia Antón de Hernández, senior executive vice president of Human Management, Cultural Transformation, Credit Administration and Compliance; José Mármol, executive vice president of Corporate Communications, Reputation and Responsible Banking; Juan Manuel Martín de Oliva, vice president of the Tourism Business Area; Mariel Bera, vice president of the Corporate Relations and Responsible Banking Area; José Hernández Caamaño, vice president of the Engineering and Maintenance Area; Karina Vallejo, senior manager of Tourism Business; Dinorah Grullón, manager of the Projects Division and Beatriz Sousa, manager of Tourism Businesses.
Messrs. Eduardo J. Grullón, president of AFP Popular, and José Manuel Cuervo, vice president of the Securities Market Subsidiaries Area of Grupo Popular, participated equally in the meeting.