NewsWhore
07-16-2009, 05:00 PM
Superintendent of Banks Haivanjoe Ng Cortinas and banker Alejandro Grullon say that the economy is picking up, and this can be seen by the increase in bank loans. Ng Cortinas made these comments yesterday while presenting the results of the first half of the year in the financial sector, as compared to the same period last year.
According to the data, the financial system's solvency index went from 14.5% in 2008 to 15% in the first half of 2009. The financial system's assets increased by 3.2% as they went from RD$596.462 billion in 2008 to RD$615.680 billion in 2009, an increase of more than RD$19 billion.
At the same time, the system's loan portfolio increased by 3.5%, going from RD$315.48 billion to RD$363.61 billion, an increase of around RD$12 billion.
At the end of the first half of the year commercial banks showed a 2.2% growth rate, savings and loan associations showed 5.4% growth and the other financial entities that make up the system showed a growth of 14%. Commercial banks recorded an increase in loans issued of RD$8.288 billion, which was 2.9% over the year before.
Moreover, the savings and loan associations (S&L) increased their loans by RD$1.67 billion for a 3.7% growth rate; the savings banks loaned out RD$1.12; the credit corporations loaned RD$404.7 million and the National Housing Bank (BNV) loaned RD$643 million.
Since February of this year, borrowing reached its lowest level, and finance companies have placed credits for RD$15.73 billion. Loans destined to productive sectors totaled RD$219 billion, reflecting a 5.1% growth, or in absolute terms RD$10.922 billion more in loans, equal to 90% of the total registered in the credit system.
Meanwhile, consumer loans and credit card borrowing reached RD$82.2 billion, a decrease of -0.6%, which is to say, a contraction of RD$488 million. But from April to June there was a RD$431-million increase in these loans.
Grullon, the president of the board of directors of the Banco Popular Dominicano, said that the economy is picking up due to the increase in the demand for loans. Loans for housing purchases reached RD$62.23 billion, reflecting a 2.3% growth, an increase of RD$1.7 billion in the first semester of 2009 over 2008.
The total reception of money from the public in the whole system was RD$499 billion, with an increase of RD$30.9 billion compared to December. The system has more than RD$125 billion in cash, which has increased liquidity levels to 24.5%.
More... (http://www.dr1.com/index.html#3)
According to the data, the financial system's solvency index went from 14.5% in 2008 to 15% in the first half of 2009. The financial system's assets increased by 3.2% as they went from RD$596.462 billion in 2008 to RD$615.680 billion in 2009, an increase of more than RD$19 billion.
At the same time, the system's loan portfolio increased by 3.5%, going from RD$315.48 billion to RD$363.61 billion, an increase of around RD$12 billion.
At the end of the first half of the year commercial banks showed a 2.2% growth rate, savings and loan associations showed 5.4% growth and the other financial entities that make up the system showed a growth of 14%. Commercial banks recorded an increase in loans issued of RD$8.288 billion, which was 2.9% over the year before.
Moreover, the savings and loan associations (S&L) increased their loans by RD$1.67 billion for a 3.7% growth rate; the savings banks loaned out RD$1.12; the credit corporations loaned RD$404.7 million and the National Housing Bank (BNV) loaned RD$643 million.
Since February of this year, borrowing reached its lowest level, and finance companies have placed credits for RD$15.73 billion. Loans destined to productive sectors totaled RD$219 billion, reflecting a 5.1% growth, or in absolute terms RD$10.922 billion more in loans, equal to 90% of the total registered in the credit system.
Meanwhile, consumer loans and credit card borrowing reached RD$82.2 billion, a decrease of -0.6%, which is to say, a contraction of RD$488 million. But from April to June there was a RD$431-million increase in these loans.
Grullon, the president of the board of directors of the Banco Popular Dominicano, said that the economy is picking up due to the increase in the demand for loans. Loans for housing purchases reached RD$62.23 billion, reflecting a 2.3% growth, an increase of RD$1.7 billion in the first semester of 2009 over 2008.
The total reception of money from the public in the whole system was RD$499 billion, with an increase of RD$30.9 billion compared to December. The system has more than RD$125 billion in cash, which has increased liquidity levels to 24.5%.
More... (http://www.dr1.com/index.html#3)