SANTO DOMINGO– Grupo Popular held its Annual General Meeting of Shareholders, in which it reported that, at the end of 2022, the total consolidated assets of its subsidiary companies amounted to RD$742.9 billion, representing an increase of RD$34.397 billion compared to 2021.
In a press release, the bank stated that its consolidated net loan portfolio increased by RD$44.239 billion, reaching a total of RD$456.910 billion, representing a 10.7% increase. Total consolidated deposits reached RD$537.300 billion.
At the close of 2022, the equity funds that support the operations of Grupo Popular and its subsidiaries reached RD$129,286 million, after registering a growth of RD$20,753 million, according to the document.
It maintains that Grupo Popular presented consolidated gross profits of RD$28,114 million, which resulted in consolidated net profits of RD$21,344 million, after deducting the RD$6,770 million paid in Income Tax.
The Chairman of the Board of Directors of Grupo Popular, Manuel A. Grullón, indicated that the group of subsidiary companies in the country, such as Banco Popular Dominicano, AFP Popular, Servicios Digitales Popular, Inversiones Popular, AFI Popular and Fiduciaria Popular, in addition to Popular Bank, a banking subsidiary with an international license in Panama, achieved positive results, characterized by healthy and sustained financial growth, thus responding to the objectives of the business plans and, especially, to the sustainable vision that characterizes it as a financial organization, supporting in turn the development aspirations of thousands of families and companies.
Digital transformation and business model
Grullón emphasized that the achievements of fiscal year 2022 are the result of a strategy that deepens Grupo Popular's leadership in the digital transformation of financial services, with cutting-edge initiatives in products and services, and the launch of a new subsidiary, Qik Banco Digital Dominicano, a 100% digital multiple bank and the first neobank in the Dominican Republic, called to increase the levels of financial inclusion of the population.
Presidential ratification
The assembly members ratified the appointment of Manuel A. Grullón as president of the Board of Directors of Grupo Popular and Manuel Grullón Hernández, Marcial M. Najri C. and Erich Schumann, for a period of three years, and Mrs. Noris Perelló Abreu, for a period of one year, as members of the Board of Directors of this parent company, to form Group III.
Manuel E. Jiménez F. was ratified as executive president for a three-year term, and Miguel Antonio Lueje Cheas as auditor, and Mario Saviñón Mera as alternate auditor of the company, for a two-year term, corresponding to the years 2023 and 2024.
The assembly appointed the firm KPMG Dominicana as the external auditors for the fiscal year 2023, and reviewed the budget for the current year and the matters presented by the Board of Directors and the shareholders.
