The Banking Association highlighted that the sector has robust fundamentals that have allowed it to maintain efficient performance and top positions at the regional level, despite the complex and challenging environment.
SANTO DOMINGO.- Private credit in national currency granted by the banking sector increased by 8.0% in July and is expected to close 2025 with annual growth between 10%-12%, in response to monetary measures aimed at reactivating national economic dynamism, highlighted the Association of Multiple Banks of the Dominican Republic (ABA) during a visit by the International Monetary Fund (IMF) mission.
ABA President Rosanna Ruiz met with the delegation headed by Ricardo Llaudes and including Geraldo Peraza, Nate Arnold, Pamela Madrid-Angers and Manuel Rosales Torres, who are holding meetings with various sectors as part of the annual review of Article IV of the Constitutive Agreement corresponding to 2025 .
Ruiz explained that the growth in local currency lending has been driven primarily by the commercial sector, which expanded by 8.3% through July . Additionally, the aforementioned monetary measures have also contributed to increasing the system's liquidity levels, which is already beginning to be reflected in gradual reductions in interest rates, the ABA reported in a press release.
During the dialogue, they reviewed the performance indicators of the multiple banking sector, as well as current and structural economic issues affecting the financial sector. "The national banking sector has robust fundamentals that have allowed it to maintain efficient performance and leading positions at the regional level, despite the complex and challenging environment," Ruiz explained.
In this regard, he highlighted that multiple banks maintain adequate levels of liquidity, high portfolio quality and a solid equity position, according to the performance indicators updated to date.
During the meeting, the ABA president also raised the opportunity to encourage a liquid and deep capital market in the Dominican Republic, as well as the importance of diversifying opportunities and mitigating risks through a guarantee system for small and medium-sized enterprises.
In this regard, he affirmed that the banking sector remains committed to promoting the participation of productive sectors and population segments in the formal financial sector and facilitating their access to credit through innovative instruments and initiatives such as the We Fi Code, alternative data scoring, digital loans, and basic accounts for micro, small, and medium-sized enterprises (MSMEs), among others. Furthermore, Ruiz emphasized the importance of financial and digital literacy in facilitating labor market integration.
He expressed his confidence that the actions contemplated in the RD 2036 Target Strategy, whose Financial Committee is coordinated by the banking association, will be an important catalyst for these and other development initiatives in the banking, insurance, securities and pension sectors.
On the other hand, Rosanna Ruiz valued the close relationship with the regulatory and supervisory institutions, the Central Bank and the Superintendency of Banks, with which she maintains a fluid interaction regarding regulatory aspects and other issues that converge in the financial sector.
The meeting with the IMF executives was also attended by Manuel González, Julio Lozano, Jorge Rodríguez and Pamela Castillo, Technical Director, Director of Economic Studies, Technology, and Communication and Marketing, respectively, as well as managers from the aforementioned areas.
