SANTO DOMINGO– The financial magazine Euromoney selected Banco Popular as the Best Bank for Real Estate in the Dominican Republic, highlighting its leadership in the real estate and construction market and its commitment to the development of the sector in the country.
The magazine, based in England, has been awarding this prize for 27 years, although this is the first time it has been given to a bank in the Dominican Republic, after assessing in its analysis the financial performance of Banco Popular in the real estate sector, noting a market share of 31.2% in mortgage loans and 34.5% in the commercial portfolio dedicated to the construction sector.
During the last twelve months, Banco Popular's mortgage portfolio grew by 13%, reaching RD$62 billion, which has benefited more than 3,500 clients with RD$17,229 million disbursed.
Similarly, construction loans saw a 41% increase in approvals, exceeding RD$12.622 billion. Meanwhile, disbursements totaled RD$17.710 billion, benefiting more than 355 clients.
Boost to the real estate sector
Euromoney magazine recognized the innovative strategies implemented by Banco Popular, as well as its ability to boost the growth of the real estate and construction sector, through alliances with construction companies and real estate agencies.
In the last five years, the entity has facilitated more than RD$41.2 billion in mortgage loans and approved more than RD$22.8 billion in construction loans, generating a positive impact on the national economy.
Innovation and sustainability
Euromoney highlighted Popular's digital leadership and the strategy of using its digital channels to facilitate operations for both real estate developers and buyers, improving the efficiency and experience of its customers.
Furthermore, the magazine highlighted the commitment to sustainable development, allocating RD$2.8 billion to compliance with the UN Principles for Responsible Banking, including RD$56 million in loans for homes certified as sustainable.
Regarding this recognition, Popular's CEO, Christopher Paniagua, highlighted how the award recognizes the bank's efforts in "offering innovative and sustainable solutions that bring value to its clients and to the development of the Dominican Republic.".
