It promotes sustainability, innovation and development in the Dominican tourism sector.
Madrid, Spain – Banco Popular Dominicano, during its participation in the International Tourism Fair (FITUR) 2025, reported that, at the close of 2024, the balance of the loan portfolio dedicated to the tourism sector exceeded RD$96,570 million, including the contributions of Popular Bank, the banking subsidiary of Grupo Popular that operates from Panama with an international license.
The bank has thus positioned itself as a leader in financing the tourism sector, supporting the renovation of more than 30,000 hotel rooms and the creation 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 exceeding US$400 million.
José Mármol, Eduardo Grullón, René Grullón, Christopher Paniagua, Antonia Antón de Hernández and Juan Manuel Martín de Oliva. (EXTERNAL SOURCE).
Operation Meliá, AFI Popular and AFP Popular
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 the Dominican Republic by subscribing to ordinary shares in these subsidiaries. The investment amounted to approximately US$63 million.
It is a major financial innovation in the tourism sector, unprecedented for the Meliá chain, which emphasizes the synergies between companies of the Popular Group to support the sector, in line with the changes in the tourism business model.
Future projections
Banco Popular has more than 15 projects under evaluation for the next two years, with a projected investment exceeding US$1.6 billion. This financial support will lead to the creation of more than 7,000 new hotel rooms and generate more than 6,000 direct jobs and 20,000 indirect jobs.
This information was provided during a meeting with members of the press, which was led by the CEO of Banco Popular, Mr. Christopher Paniagua, who reaffirmed the close support that the bank has provided 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 for investment, and an engine of national development. Our vision with our tourism partners has always been committed to excellence, geared towards economic dynamism and diversification, and focused on sustainability,” Mr. Paniagua stated.
At FITUR 2025, Banco 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 Republic's tourism offering.
Mr. Paniagua was accompanied by Mr. René Grullón, Executive Vice President of National and International Business; Mr. Antonia Antón de Hernández, Senior Executive Vice President of Human Resources, Cultural Transformation, Credit Administration and Compliance; Mr. José Mármol, Executive Vice President of Corporate Communications, Reputation and Responsible Banking; Mr. Juan Manuel Martín de Oliva, Vice President of the Tourism Business Area; Mr. Mariel Bera, Vice President of the Corporate Relations and Responsible Banking Area; Mr. José Hernández Caamaño, Vice President of the Engineering and Maintenance Area; Mr. Karina Vallejo, Senior Manager of Tourism Business; Mr. Dinorah Grullón, Manager of the Projects Division; and Mr. Beatriz Sousa, Manager of Tourism Business.
The meeting was attended equally by Mr. Eduardo J. Grullón, president of AFP Popular, and Mr. José Manuel Cuervo, vice president of the Subsidiaries Area of the Stock Market of Grupo Popular.
