Dominican Republic Best Bank: Banco Popular Dominicano

Dominican Republic Best Bank: Banco Popular Dominicano

Bonds Structured Finance Dominican Republic Corporate & Sovereign Strategy

This year has been a challenging one for banks in the Dominican Republic. Despite some growth in retail, mortgage and consumer credit, the story for the country┬╣s lenders has been largely one of less growth and profitability. The run up to presidential elections this year witnessed a fiscal expansion that has led to a deterioration of the country┬╣s fiscal accounts, according to Barclays. It estimates a fiscal deficit of 4.3% of GDP in 2012, likely to shrink to 3.0% of GDP next year. Against this backdrop, the central bank was forced to take a conservative stance: interest rates have therefore been higher, leading to a decline in consumer lending. Banks are also investing more in govern

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