NewsWhore
07-14-2010, 03:40 PM
The DR's commercial banks have reported earnings of RD$10.2 billion in the first half of the year, reflecting a positive performance by the financial system. This amount means an increase of RD$2.55 billion (or 33.4%) in relation to the earnings registered in the same period in 2009, which was RD$7.64 billion. The information was provided by the Superintendent of Banking, Haivanjoe NG Cortinas, who said that the multi-banks in particular, improved their earnings with respect to 2009 by 34.2%, the Savings and Loan associations improved by 30.6% and the overall improvement for the other entities on financial intermediation was 31%.
Ng Cortinas said that deposits until June 2010 were RD$599.83 billion, showing an increase of RD$44.45 billion since December 2009. This is also an increase of 8% that is 1.3% better than the same period last year.
As he presented the "Report on the Performance of the Financial System, January-June 2010", the superintendent highlighted the fact that the channeling of resources towards the activities that produce the highest share of the GDP is the most visible result of the measures implemented by the monetary and financial authorities last year. He stressed that the credit portfolio has grown by 9.1%, benefitting sectors such as Industry, Manufacturing, Construction, Tourism, Water and Electricity Suppliers, Real Estate and Business activities that make up 70% of the GDP.
The credit portfolio saw an increase of RD$35.76 billion through December 2009. In percentages, this is 9.1% increase is higher than the 3.4% that was seen in the first half of 2009.
The sectors which in yearly terms showed the greatest increase in their credit levels are Manufacturing Industries, RD$7.77 billion, with a yearly growth rate of 29.8%, and Construction, which obtained RD$4.16 billion, an increase of 75.9%. Business Activities registered credits for RD$6.74 billion, which is to say an increase of 43.8% and Financial Intermediaries obtained RD$1.11 billion, equivalent to a 35.2% increase. Ng Cortinas said that the productive sectors are benefiting from the credit surge on the basis of the low levels of arrears in the portfolio, which fell from 4.1% in December 2009 to 3.9% in June 2010.
More... (http://www.dr1.com/index.html#13)
Ng Cortinas said that deposits until June 2010 were RD$599.83 billion, showing an increase of RD$44.45 billion since December 2009. This is also an increase of 8% that is 1.3% better than the same period last year.
As he presented the "Report on the Performance of the Financial System, January-June 2010", the superintendent highlighted the fact that the channeling of resources towards the activities that produce the highest share of the GDP is the most visible result of the measures implemented by the monetary and financial authorities last year. He stressed that the credit portfolio has grown by 9.1%, benefitting sectors such as Industry, Manufacturing, Construction, Tourism, Water and Electricity Suppliers, Real Estate and Business activities that make up 70% of the GDP.
The credit portfolio saw an increase of RD$35.76 billion through December 2009. In percentages, this is 9.1% increase is higher than the 3.4% that was seen in the first half of 2009.
The sectors which in yearly terms showed the greatest increase in their credit levels are Manufacturing Industries, RD$7.77 billion, with a yearly growth rate of 29.8%, and Construction, which obtained RD$4.16 billion, an increase of 75.9%. Business Activities registered credits for RD$6.74 billion, which is to say an increase of 43.8% and Financial Intermediaries obtained RD$1.11 billion, equivalent to a 35.2% increase. Ng Cortinas said that the productive sectors are benefiting from the credit surge on the basis of the low levels of arrears in the portfolio, which fell from 4.1% in December 2009 to 3.9% in June 2010.
More... (http://www.dr1.com/index.html#13)