A study by the industry indicates that investment funds positioned themselves as the third largest recipient of funds, while time deposits increased their share to represent 48% of the total.
SANTO DOMINGO- The composition of savings in the Dominican financial system underwent significant changes during the last 11 years, a period in which deposits increased by RD$2.76 trillion, for a growth of 240%, revealed an analysis by the Association of Multiple Banks of the Dominican Republic (ABA).
According to the report prepared by the Technical Directorate of the entity, which takes as a reference statistics from the Superintendency of Banks, between January 2015 and February 2026, public deposits in financial institutions went from RD$1.15 trillion to RD$3.91 trillion, behavior that shows a sustained expansion of financial intermediation and a greater capacity of the system to channel savings towards productive activities.
"The Dominican financial system has significantly deepened its reach between 2015 and 2026. National savings channeled through the financial system grew at a rate higher than inflation, expanding the availability of resources to finance households, businesses, and productive projects," he stated.
He also highlighted the change in the distribution of savings among the various entities in the financial system. In particular, he pointed to the expansion of investment fund management companies (SAFI), whose deposits increased from RD$5.569 billion in 2015 to RD$460.468 billion currently, a growth of over 8,000% that positioned them as the third largest deposit-taking entity, with 11.77% of the total.
Cooperatives decline
In the case of cooperatives, he added that, although their deposits increased from RD$469,337 million to RD$606,448 million, their relative share fell from 40.80% to 15.98% during the period analyzed, according to data from the Central Bank used for this subsector.
He also reported that multiple banks consolidated their leadership during the analyzed period, with deposits increasing from RD$638,383 million in 2015 to RD$2,499,646 million (RD$2.5 trillion) currently, representing a growth of 292%, while their market share advanced from 55.5% to 63.5%, although with fluctuations throughout the period.
"The leadership of multiple banks reached its historical peak in participation in 2022, when it reached 71.95%, driven in part by the statistical drop recorded in the figures for cooperatives that same year," explained the ABA.
In that regard, the Banking Association specified that, in the current distribution of deposits, cooperatives occupy second place, with RD$606,448 million, equivalent to 16% of the total; followed by SAFI, with RD$460,468 million, for 11.77%, and savings and loan associations, with RD$276,535 million, for 7.17%.
He added that savings and credit banks hold RD$49,532 million, equivalent to 1.32%; public entities, RD$9,954 million; and credit corporations, RD$1,396 million, for 0.04%.
Greater preference for time deposits
The ABA analysis identifies another relevant change in the way savers allocate their resources.
In that regard, he specified that 2020 marked a turning point, driven by the liquidity measures implemented by the Central Bank during the COVID-19 pandemic, with injections estimated at around RD$120 billion, which brought the growth of deposits to 18.8% year-on-year, the highest rate observed in the analyzed period.
"Paradoxically, while the economy contracted, savings grew: households accumulated liquidity in the face of uncertainty and falling consumption.".
“From 2023 onwards, and in response to more attractive passive rates, the system experienced a notable migration within the instruments of fundraising: time deposits, which represented 37% of the total in 2022, climbed to 48% in 2025,” he explained.
According to the entity that brings together the country's multiple banks, this behavior shows a greater interest among savers in options that allow them to obtain returns, in addition to liquidity.
Recommended readings:
