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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