Best Bank - Dominican Republic
Banco de Reservas has shrugged off macroeconomic weakness in the Dominican Republic caused by the global financial crisis and continues to grow.
The state-run bank known
as Banreservas is now looking to grow financing. Helping
Banreservas is its reputation as a safe haven bank, Fitch
analyst Franklin Santarelli tells LatinFinance. "The
bank is highly regarded by the Dominicans. The institution has
been one of the few safe havens in the country in times of
systemic economic stress."
In fact, contrary to what
happened with many large banks in the US and Europe,
Banreservas did not require any capital injections during the
financial crisis, Santarelli adds.
The government did, however, take steps to strengthen the
economy during the crisis. Among those steps were an expansion
in public spending and reduction in central bank rates,...
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