NewsWhore
03-16-2010, 08:00 PM
An editorial yesterday in El Nacional highlights that the governmental Banco de Reservas that financed 52.6% of the Torre Atiemar with the guarantee of 100% of the building did a good business deal. This is the tower that was interveened by the authorities after its developer was arrested in Spain for attempting to smuggle a 1,200 kilo cocaine shipment.
Those who purchased the apartment will need to pay the remainder balance to the Banco de Reservas, instead of paying the seller, Prado Universal Corporation, for them to receive their property titles.
The high rise is valued at RD$919,696,932 million. The high rise has 21 floors and is located at Av. Pedro Henriquez Urena.
The Prosecutor General is determining the legitimacy of the purchase of apartments in the building.
In its defense of the operation of the Banco de Reservas, the editorial writer says that the bank had a yield of RD$2.27 billion last year, and an increase in assets of 18.5%. It mentions figures from the Banco de Reservas whereby the bank had a profit of RD$534 million in 2009. The Banco de Reservas reported that as of February its assets were RD$170.96 billion. It indicates that its credit portfolio as of February was RD$111.77 billion, for a 18.6% increase over 2009. The bank said that its lending total was 14.7% more than the total granted by all other banks in the market.
http://www.7dias.com.do/app/article.aspx?id=70797&commentMode=true#comments
More... (http://www.dr1.com/index.html#9)
Those who purchased the apartment will need to pay the remainder balance to the Banco de Reservas, instead of paying the seller, Prado Universal Corporation, for them to receive their property titles.
The high rise is valued at RD$919,696,932 million. The high rise has 21 floors and is located at Av. Pedro Henriquez Urena.
The Prosecutor General is determining the legitimacy of the purchase of apartments in the building.
In its defense of the operation of the Banco de Reservas, the editorial writer says that the bank had a yield of RD$2.27 billion last year, and an increase in assets of 18.5%. It mentions figures from the Banco de Reservas whereby the bank had a profit of RD$534 million in 2009. The Banco de Reservas reported that as of February its assets were RD$170.96 billion. It indicates that its credit portfolio as of February was RD$111.77 billion, for a 18.6% increase over 2009. The bank said that its lending total was 14.7% more than the total granted by all other banks in the market.
http://www.7dias.com.do/app/article.aspx?id=70797&commentMode=true#comments
More... (http://www.dr1.com/index.html#9)