SANTO DOMINGO. The Chairman of the Banco del Progreso Board of Directors, Juan Vicini Lluberes, announced the increase registered in the entity portfolio by over 2 billion in its credit shares, hence attaining a percentage growth of 19.5%.
A press release issued by the banking entity, upon closing FY 2013, the Progreso assets portfolio totaled RD$42,137 million, translating to an increase of 7.6% versus FY 2012.
At the same time, total deposits increased by RD$2,264 million, for a total of RD$36,684 million. The credit portfolio grew by RD$15,955 million, hence equaling a registered growth of 19.5% versus last year.
The Financial Margin increased by RD$2,891 million, hence 27.4% increase, and promoting net benefit growth to 16.1% upon reaching the sum of RD$640.3million.
“This favorable result was achieved without affecting the quality o f our credit portfolio. Taking this variable into account and the fact that our solvency rate was preserved by 12.81%, above the 10% required by the monetary and financial authorities, Progreso did not only grow in 2013, but also strengthened its KFIs”.
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