Banco del Progreso Registers Utilities at RD$371M

vicini-banco-del-progreso-registers-utilities-at-rd371M

SD. The performance of the main financial indicators of 2010 which permitted Banco del Progreso to pave their pathway with dynamism and growth”, with net utilities registered ten times greater than the values of 2009.

In 2010, Progreso experienced a “constant growth in the most important segments of the banking business”, expressed Juan B. Vicini Lluberes, Chairman of the Board of Directors of the bank, at the General Shareholders Assembly.

By assessing the results obtained by the entity, Vicini Lluberes added, “we are proud to say that this institution is walking firmly on the pathway of dynamism and growth: which is clearly proven in the positive operational results of 2010, which allowed the bank to “reach a net benefit of RD$371M, more than 10 times the results of 2009”. Banco del Progreso managed to increase their total assets by RD$4,936M by surpassing the RD$24,289M in 2009, to obtaining RD$29,225M in 2010.

The Bank obtained a return on assets of 1.37%, which the entity managed to multiply times ten the previous year performance. “Likewise, the profitability of our assets obtained similar results; positioning at 17.78%”, versus the 1.75% registered in 2009.

Also, the Bank strengthened their Gross Financial Margin, which experienced an increase of 72% all the way to reaching RD$1.697M. Simultaneously it experienced an increase in their loan portfolio by 70% reaching RD$12,471M, while total deposits escalated from RD$23,558M, 12% above their previous year fiscal exercise.

Mark Silverman, President of Banco del Progreso, stated that “these numbers are the result of healthy management, given that once we expanded the business; we have maintained a good control of all operational risks”.

About Banco del Progreso:

Banco del Progreso is a company in the Financial Services portfolio of assets administered by VICINI.

The VICINI family has invested in different economic sectors in the Dominican Republic for over 140 years. VICINI is one of the companies that has contributed significantly to the development and industrialization of the country.

Source: Diario Libre

Progreso Increased Assets by RD$4,396 MM

Progreso Increased Assets by RD$4,396 MM

Santo Domingo. The Banco del Progreso informed an increase in their total assets by RD$4,936M by surpassing from RD$24,829M to RD$29,225M attained in 2010. The performance of the main financial indicators in 2010, permitted the Bank to set “firmly on the pathway of dynamism, and growth”, as is shown by the attainment of a net benefit tenfold greater than the registered values of 2009.

The Chairman of the Bank Board of Directors, Juan Bautista Vicini Lluberes, expressed that in 2010, Progreso registered a constant growth in all the main segments of the banking business, simultaneously “achieving significant improvements in all indicators related and linked to the financial health of the organization. Information was disclosed amid the framework of the ordinary general shareholders assembly, which recently took place.

By assessing the results of the financial entity, Vicini Lluberes added “we are proud to say that this institution is walking firmly on the pathway of dynamism and growth”, which is shown in the positive outcome of 2010, which permitted us to “reach a net benefit of RD$371M, more than ten times our results from 2009”.

Return on assets

The bank attained a return over their assets of 1.37%, via which the entity multiplied tenfold their performance versus the previous year. “Likewise, the profitability over our estate rendered similar achievements, setting at 17.78% versus the 1.78% of 2009, he said. The Bank also strengthened their gross financial margin, which experiences an increase of 72% up to RD$1,697M.

Likewise, the bank saw an increase in its loan portfolio by 70%, reaching RD$12,471M, while the total deposits totaled at RD$23,558M, 12% above last year’s fiscal exercise. Mark Silverman, CEO, indicated that “these numbers are the result of healthy management, given that once we expanded the business, we have maintained all operational risks controlled”, which leads us to the conclusion that “the financial health of our bank is vigorous”. Silverman established his point of view based on the increase to 148% of their coverage over expired credit by 60% more than in 2009. Another proof of the quality management-wise was that it reduced the delinquency rate from 9.9% to 2.6% by closing of 2010.

THE COMBINATION OF FACTORS IN RESULTS

Juan Bautista Vicini Lluberes added that these accomplishments attained by Banco del Progreso were possible thanks to a combination of factors which converge in an smart business management, a favourable economic environment, as well as the backing and unconditional support of all bank shareholders, having as drive the arduous labor of their workforce. Progreso was founded in 1974, after the purchase of the former Bank of Boston by Tomás Pastoriza. It holds alliances with the financial services company American Express and features branch offices nationwide as well as over 116 ATM machines.

About Banco del Progreso:

Banco del Progreso is a company in the Financial Services portfolio of assets administered by VICINI.

The VICINI family has invested in different economic sectors in the Dominican Republic for over 140 years. VICINI is one of the companies that has contributed significantly to the development and industrialization of the country.

Source: Listin Diario

Banco del Progreso Shows Dynamism and Growth

Banco del Progreso Shows Dynamism and Growth

The performance of the main financial indicators for 2010, allowed for Banco del Progreso to pave its north “firmly on the pathway of dynamism and growth”, as was demonstrated through the attainment of utilities ten times greater than the registered values during 2009.

In 2010, Progreso registered a “constant growth in the main segments of the banking business, up par with the fact that we were achieving significant improvements in all the indicators related to the financial health of the organization” expressed Juan Bautista Vicini Lluberes, Chairman of the Board of Directors of the bank, within the framework of the General Shareholders Assembly, which was recently celebrated.

By assessing the results that the organization registered, Mr. Vicini Lluberes emphasized that “we are proud to say that this entity if firmly walking on the pathway of dynamism and growth”, which is clearly demonstrated in the positive operational results of 2010, which allowed the bank to reach a net utilityof RD$371M, ten times greater than the 2009 results”.

About Banco del Progreso:

Banco del Progreso is a company in the Financial Services portfolio of assets administered by VICINI.

The VICINI family has invested in different economic sectors in the Dominican Republic for over 140 years. VICINI is one of the companies that has contributed significantly to the development and industrialization of the country.

Source: Hoy

I Pay, You Pay, tPago Pays… Much Better

I Pay, You Pay, tPago Pays… Much Better

RD. As a way to maintain their development and expansion, GCS Systems with its product tPago, hosted a gathering to announce the insertion of Banco Popular credit cards to their platform, enabling the use of same as a transaction funding mechanism.

The moment was seized to announce the integration of Orange Dominicana and APEC University to their list of affiliated companies, thus attaining the opportunity to offer their services.

Brian Paniagua, CEO of GCS, pointed out that since the launch of this revolutionary product, not only have they pioneered in the implementation of solutions for managing payments and purchases via mobile phone, but have also been integrated within a platform in benefit of bank customers, telephone service providers, billing establishments and commercial establishments. YH

About tPago:

tPago is a service provide by GCS System, a company in the Financial Services portfolio of assets administered by VICINI.

The VICINI family has invested in different economic sectors in the Dominican Republic for over 140 years. VICINI is one of the companies that has contributed significantly to the development and industrialization of the country.

Source: Diario Libre

 

Banco del Progreso Supports Castro

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With the interest of supporting sports manifestations, Banco del Progreso announced the launch of Team Progreso, to support two-time national Drifting Champion, Jhonatthan Castro, whom seeks the championship crown once more for 2011.

Banco del Progreso has seemed fit to support a driver like Castro, because he encompasses all the values the financial entity promotes, explained María Isabel Grullón, VP of Communications and Corporate Affairs. “To pioneer in Drifting in this country is a very ambitious initiative led by by Jhonattan Castro. Asides being the novel he has also championed on two occasions, which demonstrates his passion for excellence. These are precisely, the values that we live and abide by in Progreso, to “innovate”, “passion” and “excellence”; that is why we side by him.

This informed Ms. Grullón during an event hosted at Torre Progreso, which featured the attendance of many executives of the banking organization, whom were able to appreciate the vehicle to be used by Jhonattan Castro, as he competes at the 2011 National Drifting Championship.

Adorned by the publicity of Banco del Progreso products and promotions, Castro’s vehicle will display a new image.

Castro championed this discipline in 2009 and 2010, and for the 2011 season he seeks to revalidate his championship title in the five scheduled meets that start next Sunday. It is about of one the sports pioneers in the Dominican Republic, whom is characterized by his consistence, tendency to growth and success in the different competitions he has partaken in, said Grullón. The support of Progreso will influence also in the international preparedness of this talented Dominican driver.

“This summer I plan on visiting Japan and taking some special training sessions together with the staff of the #1 team worldwide. With a special car I will be reviewing the most used techniques by the most renowned drivers in the sport, at the Ebisu track, which will allow me to return to D.R better trained to champion again” said Castro. Drifting is a specialty sport, it is known also as the “art of skidding” which is already awakening vast interest in the country. It is about a driving technique where she driver slides the vehicle intentionally, losing traction in the back wheels, but maintaining the vehicle under control, and setting in motion at great speed. Drifting originated in Japan in the 1970s.

About Banco del Progreso:

Banco del Progreso is a company in the Financial Services portfolio of assets administered by VICINI.

The VICINI family has invested in different economic sectors in the Dominican Republic for over 140 years. VICINI is one of the companies that has contributed significantly to the development and industrialization of the country.

Source: Listin Diario

Banco Popular Credit Cards Enter tPago

Banco Popular Credit Cards Enter tPago

Santo Domingo. The executives of GCS Systems announced the inclusion of Banco Popular Credit Cards within their tPago platform. Likewise, they offered details on the integration of Orange Dominicana and APEC University to their list of affiliated companies. The novelties of the revolutionary system, which will facilitate payment of services via mobile phone, were introduced by the CEO of the company, Mr. Brian Paniagua and, Marketing Director Yaqui Núnez, during a cocktail hosted at the Fellini Restaurant.

Núnez explained that via tPago, customers can perform transactions and monitoring of their accounts, credit cards, loans, asides consulting ledgers and balance, and issue pertaining payments to their banking services.

The executive highlighted that this revolutionary system has been placed on the web in order to offer greater facilities to its member customers via tPagoNet. After the presentation, a party was hosted to celebrate the integration of the new web members, which was animated by DJ Fabian Koufach.

SERVICES INCLUDED IN THE TPAGO COVERAGE:

The CEO of GCS Systems, Brian Paniagua, informed that the tPago system operated through a common platform with BanReservas, Banco Popular, and Banco del Progreso, asides a network of affiliated companies.

The coverage features over 1,000 sales establishments, where customers can make their purchase charging it to their bank account, and also now to their Banco Popular credit cards. The network also integrates EDESUR, EDENORTE, and EDEEESTE, as well as CPS Courrier Services, and payment of your cable TV bills, residential phone service and mobile telephony with Claro, Tricom and Orange.

About tPago:

tPago is a service provide by GCS System, a company in the Financial Services portfolio of assets administered by VICINI.

The VICINI family has invested in different economic sectors in the Dominican Republic for over 140 years. VICINI is one of the companies that has contributed significantly to the development and industrialization of the country.

Source:  Listin Diario