Bank of the Year, Dominican Republic: Banco Popular Dominicano
Fiscal reform in the republic has put pressure on bank profitability
Authorities in the Dominican Republic are doing their best
to revive a flagging economy. But for the nation's banks, the
policy measures have not been without their costs. GDP growth
dropped from 7.8% in 2010 to around 4% in 2012. The government
reformed the tax system in late 2012, increasing value added
tax among other measures. At the same time, it cut spending in
the early part of 2013. The economy felt...
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