Santo Domingo.- The Banco de Reservas has managed, under its current leadership, to experience the greatest capital growth in its more than eight decades of existence. This achievement is illustrated by the impressive increase of capital from 10 billion pesos in 2020, to 39 billion in January 2022, culminating in 76 billion by August 2024.
This expansion, which translates into an extraordinary increase of 660% compared to the initial 10 billion, has been possible thanks to the amendment of Law No. 13-24, which reforms the Bank’s Organic Law, and through the capitalization of profits earned over recent years. This legislative review is key to allowing a broad improvement in capitalization capacities and to strengthening the bank’s financial solvency.
According to the institution’s press release, the capital increase will notably contribute to strengthening the entity, which will be reflected in a improvement in the services provided, through investments in technology and operations, providing greater stability and financial security. This, in turn, will allow expanding the benefits and programs available to citizens, as well as providing a more significant support to community development projects and public interest initiatives, thereby benefiting Dominican society as a whole.
In the words of the executive president of Banco de Reservas, Samuel Pereyra, “The remarkable increase of our capital is clear evidence of the effort and dedication of our team, as well as the positive impact that the amendment of Law No. 13-24 has had. This update has been crucial to reinforce our capabilities and leadership.”
Pereyra also highlighted the bank’s commitment to the continuous improvement and development of its financial services for the benefit of the community, stating that this increase not only improves the bank’s operations but also reaffirms its commitment to generate a positive impact on the lives of Dominicans.
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