PROPARCO is supporting credit for businesses – especially SMEs – by financing Banco Popular Dominicano, the country’s leading private bank. SMEs currently account for a third of its loan portfolio.
Banco Popular Dominicano is the leading Dominican private bank. It accounts for 25% of the domestic credit market and employs over 6,800 people. The bank is particularly active in the SME segment, which accounts for a third of its loan portfolio (some 53,000 clients). Banco Popular Dominicano is the main subsidiary of Grupo Popular, which is owned by over 10,000 shareholders. At the end of 2014, its assets stood at some USD 6bn.
Proparco’s financing will be earmarked to support the growth in the bank’s loan portfolio, especially in the SME segment.
This operation will increase the local capacity to finance the local economic base. It will support access to financial services for SMEs in the Dominican Republic, which are a source of employment and an engine for development.