SANTO DOMINGO.- Banco Popular announced that it has increased its authorized share capital from RD$30 billion to RD$35 billion, as part of a strategy to strengthen its equity, in accordance with what was approved at its General Shareholders' Meeting.
According to the entity, the decision seeks to expand its growth capacity in a context of credit expansion and greater demand for financing in productive sectors.
Assets exceed one trillion pesos
According to the data presented, consolidated assets reached RD$1,119,480 million, for a growth of 11.7%.
Likewise, the net loan portfolio stood at RD$656,800 million, with an increase of 8.7%, while total deposits amounted to RD$777,522 million.
The bank explained that these results reflect the dynamism of its operations and the evolution of financing in the economy.
Profits and tax burden
The entity reported net profits of RD$34,783 million, after paying RD$11,284 million in Income Tax, as detailed in its report to shareholders.
Expansion in financing and investment
According to the information presented, the performance of its subsidiaries was driven by growth in key areas related to investment, the stock market, and asset management.
The bank indicated that its brokerage firm registered a 35% increase in its investment portfolio, while its fund manager reached assets of RD$45 billion, for a growth of 28%.
Meanwhile, the trust company added new contracts and continues to expand the management of independent assets, a key tool for the development of real estate and tourism projects.
Digitalization and access to the financial system
According to the company, its digital platforms continue to expand. The neobank surpassed 800,000 customers, while its payment solutions and banking sub-agency increased their transaction volume nationwide.
The bank argued that this digitization process contributes to expanding access to financial services, with an impact on consumption, investment, and financing.
Changes in governance
During the assembly, adjustments to the composition of the Board of Directors were also approved, according to the entity.
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