SANTO DOMINGO.-The Reserve Bank of the Dominican Republic has moved into first place among the top five most profitable banks in Latin America, Central America and the Caribbean; and number six worldwide, according to the ranking of the 1000 Best Banks in the World, made by The Bankermagazine.
The financial institution also ranked number one in assets in the Dominican Republic and third in Central America and the Caribbean, according to the 2023 ranking, based on the final banking results corresponding to the close of the previous year.
The measurement is based on global bank profitability, net income, deposits, financing costs, return on capital and return on assets, total assets, tier 1 capital, among other aspects.
Banreservas also ranked in the top 10 in tier 1 capital in Central America and the Caribbean, becoming the fifty-second bank with the largest increase in tier 1 capital in the world (+29.6%); while also ranking as the fourth bank with the most profits in the same region.
Regarding profitability metrics, Banreservas has the highest return on equity in the region for the second year in a row, followed by Mexico's microfinance institution Banco Compartamos, and then Banco de Costa Rica, Banco de Chile, and Banco Industrial.
The ranking details will be announced by The Banker in its July issue.
Robustness and performance
Samuel Pereyra, general manager of Banreservas, stated that "Banreservas' presence on this list is a testament to its leadership and excellent results at the national, regional and global levels."
He also highlighted the strength of its balance sheet and its superior performance compared to other banks in the country and the region in terms of key financial indicators, "despite difficult market conditions.".
He noted that World Finance magazine also recognized the financial institution this week in the categories of Best Corporate Governance Bank, Best Investment Bank, Best Commercial Bank, Best Consumer Bank and Best Private Bank in the Dominican Republic.
"We celebrate these awards together with our clients, the board of directors and the bank's employees, with the commitment to continue working to support all productive sectors of the nation; and for the strengthening and technological modernization of this institution," Pereyra said.
He cited as an example of the bank's commitment to promoting the country's progress and the well-being of its citizens the Expohogar event, which Banreservas holds throughout July, with preferential rates so that families can finance their homes.
