Banreservas is considering opening similar offices in New York, Miami, and Panama.
Banco de Reservas opened a representative office in the Spanish capital as part of its internationalization strategy, which will allow the Dominican diaspora to manage banking services and financial advice related to possible investments and other business operations in their country of origin.
The general manager of Banreservas, Samuel Pereyra, explained that “with this initiative, Banco de Reservas becomes the first and only Dominican bank with a presence in Spain, in addition to advancing its internationalization and positioning outside our borders.”.
He added that it will also contribute to boosting the prosperity and well-being of all Dominicans residing in Madrid and other parts of Spain. Banreservas plans to later open similar offices in New York, Miami, and Panama.
The representative offices will replicate all Banreservas services from the location where they are carried out, but the financial operations will be carried out in the Dominican Republic, which will allow Dominicans to expedite and complete banking procedures without having to travel to their country.
The opening of the office in Madrid, located on the central Avenida de la Castellana, near the Dominican Consulate, is part of the program of activities carried out by Banreservas in the context of the
International Tourism Fair, Fitur 2023, which is being held in this city from the 18th to the 22nd of this month.
Pereyra explained that this office has a trained staff to offer advice to Dominicans residing in Spain, regarding sending remittances, acquiring homes and the proper management of their economic resources, through investments in our country.
He said that this representative office is especially relevant for Banreservas, because Spain is the second nation with the largest Dominican immigration, amounting to more than 187,345 compatriots, a number that represents 16.5 percent of the entire Latin American diaspora
The bank's general manager added that the new office will also advise Spanish investors interested in the Dominican Republic.
The event was attended by leaders of the Dominican community in Spain, executives from various tourism companies, as well as owners of hotel chains and national and international journalists.
