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The executive president of Banreservas, Samuel Pereyra, presented the achievements of his management at the head of that financial entity, in a document titled Banreservas: Engine of the National Economy 2020-2024, which highlights the significant growth of the institution's assets and its positive impact on key sectors such as tourism, financial inclusion and support for innovation.
In the presence of the first lady, Raquel Arbaje, Pereyra emphasized the growth of the banking entity's assets, which increased by 69% between December 2020 and June 2024, consolidating the bank as a leader in the national financial system.
Assets amounted to 1 trillion, 208,844 million pesos, which compared to September 2023 increased by RD$55,455 million, for a year-on-year increase of 4.8%.
In addition, he highlighted the increase in net profits, which multiplied, going from RD$10,400.4 million in 2020 to RD$24,500 million in 2023, reflecting an outstanding profitability of the invested capital. As of September 2024, they reached RD$19,918 million, reflecting an increase of 1.5%, compared to the same month last year.
«The growth in Banreservas' assets in these four years reflects not only a robust expansion of our operations, but also efficient management that has positioned us as leaders in the national financial system, with a share of total assets of 33%. “, said.
Impact of Banking on Homeland
The executive also highlighted Banreservas' commitment to financial inclusion, highlighting the Bancarizar es Patria program, which has allowed the opening of more than 5,400 savings accounts, benefiting more than 7,000 people, and the holding of financial education workshops.
Stating that these days enable access to essential financial education tools for children and adults, he said that these efforts empower communities and promote a more prosperous future.
Tourism incentive
Pereyra also mentioned that support for the tourism sector during the pandemic was another of the key points of the management: “With the country closed, we began the incentive for domestic tourism with the Happy Vacations program, through financing at 0% interest and offering “We gave the few tourists who visited us a product called Safe Tourism, which consisted of free health insurance to cover possible infections caused by Covid, thus we began the revival of the sector.”
In four years, the entity financed more than USD$1,217 million in tourism projects, supporting the construction of hotels, cruise ports and theme parks, especially in destinations such as Miches, Pedernales and Punta Cana.
“We have supported investments of more than 1,217 million dollars that have significantly promoted the creation of jobs, an increase in tourism offerings, an improvement in the visitor experience and the quality of life of the communities. Our participation in the credit portfolio for tourism has increased, going from 29% in 2020 to an impressive 41% in 2024,” he indicated.
Internationalization of Banreservas
Regarding international expansion, Pereyra reported that Banreservas opened offices in Madrid, New York and Miami. “The results of Banreservas' expansion have been surprising. As of June 2024, our offices abroad have served more than 34,800 clients, exceeding the expectations we initially set. This indicates a clear demand for the services we provide, as well as the effectiveness of this initiative. Also, we have managed more than 650,000 remittances, consolidating ourselves as a key ally for Dominicans residing abroad.”
Capitalization of Banreservas
To conclude, he mentioned among his successes the recent enactment of Law 13-24, which grants Banreservas the status of a multiple bank, which has allowed the bank to significantly expand its capitalization capabilities and strengthen its financial position.
“In this executive presidency, the largest capital increase has been achieved in the 83 years of history of this financial entity, this milestone highlights a notable growth from 10 billion pesos in 2020 to 39 billion in January 2022 and more recently to 76 billion pesos in August 2024,” Pereyra emphasized.
When referring to support for sport, the executive president of Banreservas also valued as an achievement the signing, in 2020, of a collaboration agreement with the Professional Baseball League of the Dominican Republic (LIDOM), which allowed the continuity of national sport in a pandemic context, by supporting that entity for eight years. Banreservas has supported different sports disciplines with more than 770 million pesos in contributions.
The cited data is contained in the aforementioned document Banreservas: Engine of the National Economy 2020-2024, which consists of 10 chapters: Governance structure, General context of the Dominican economy, Financial leadership, Digital transformation and modernization, Progress in corporate social responsibility , Institutional strengthening and human capital, International recognition, Positioning in the international market, medium and immediate perspectives of the Reserve Bank and Summary of achievements, testimonies and thanks.
The presentation was made at the Banreservas Club, with the presence of ministers and officials from different government areas, members of the Board of Directors and executives of the financial institution and its subsidiaries.