Santo Domingo. Within the topics discussed during the General Assembly and the General Extraordinary Meeting, the Banco del Progreso shareholders recognized the progress achieved by the entity in their business, making evident the achievements of 2011.
The Chairman of Banco del Progreso, Juan B. Vicini Lluberes, expressed that the business behavior carried out by the bank in 2011, served as guideline to “incentivize the Dominican business spirit, offering credit to the construction sector, large corporations and alternative energy”, as ways of promoting national development.
Upon presenting their institutional Annual Report pertaining to last year, Vicini Lluberes explained that the total assets of Banco del Progreso experienced a percentage increase greater than the national average in the banking sector, by 24.2%. Likewise, Vicini also emphasized that the total assets closed with 32,032MM, which is 25.6% over the 2010 closing of 25,510MM. He added that their credit portfolio escalated by 28.1%, reaching RD$15,979million.
Vicini indicated that the financial margin the organization experienced an increase of 10.7% in 2011, with respects to 2010, closing at RD$1,879million. Likewise, he said all credit card business segments increased by 18.5%
AMERICAN EXPRESS CREDIT CARD
Vicini Lluberes indicated American Express® experienced a record year in the country, growing by over 30%, promoted by an increase of 10% in credit card holders and the expansion of their coverage network, due to the boost in affiliated commercial establishments. The Progreso assets increased by RD$552million, “as an endorsement from all shareholders to all general operations conducted by the bank”, as is expressed in their 2011 Annual Report. “The values which distinguish us are respect, integrity, passion, entrepreneurialism, excellence, and labor analysis”, said Vicini.
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