NewsWhore
07-24-2012, 02:40 PM
The savings deposits in the banks have grown by more than RD$256 billion over the past six years. They have gone from RD$271.28 billion in 2005 to RD$574.79 billion in 2011, an increase of 123%. According to the president of the Association of Commercial Banks (ABA), Jose Manuel Lopez Valdez, the growth in deposits is the result of public confidence in banking, as reported in Diario Libre.
The ABA January-June news bulletin says that savings deposits share of total bank deposits is up to 81%. In 2005, the RD$207.341 billion in savings accounts were 77% of the total, and at the close of 2011 the savings deposits totaled RD$463.95 billion, or 81%.
Lopez Valdez said that as a result of the significant increase in the savings deposits and the expansion of the credit portfolio, the housing and construction loans also showed strong increases that have had a multiplying effect on the rest of the economic activities in the country.
More... (http://www.dr1.com/index.html#7)
The ABA January-June news bulletin says that savings deposits share of total bank deposits is up to 81%. In 2005, the RD$207.341 billion in savings accounts were 77% of the total, and at the close of 2011 the savings deposits totaled RD$463.95 billion, or 81%.
Lopez Valdez said that as a result of the significant increase in the savings deposits and the expansion of the credit portfolio, the housing and construction loans also showed strong increases that have had a multiplying effect on the rest of the economic activities in the country.
More... (http://www.dr1.com/index.html#7)