Banco del Progreso closed their FY2012 with optimum indicators and significant improvements in their assigned grading by Feller-Rate (BBB+) with stable perspectives and category 2 on all long-term deposits (1year term)
“The solid structural, operational and control implemented by the entity sustained this valuation”, as is stated in the Bank’s 2012 Annual Report, which also emphasized by Feller-Rate, took into consideration the reorientation the bank has developed towards massive segments and the greatest operational diversification. The Progreso assets increased by 7.9%, from RD$16,285 million in 2011, to RD$39,166 million in 2012. The same pattern is observed in the deposits area, indicating a growth of 7.5%, going from RD$32,032 million to RD$34,419 million.
“Upon the closing of FY2012, our numbers spoke strongly. The KFIs of Banco del Progreso increased significantly versus the 2011 closing.”, so explained the Progreso CEO, Mark Silverman, among other details which make emphasis on the evident public trust in the registered increase in savings.
Progreso has achieved active marketshare. The Chairman of the Progreso Board of Directors, Juan Vicini Lluberes, quotes the newly launched products aimed in that direction: Doble Cuenta Progreso, American Express® Debit card, the Cuenta Corriente Productiva, the new Wells Fargo Express Remittance service, among others which include attractive promos for the clientele.
CUSTOMER-AIMED SERVICES. BUSINESS
The Doble Cuenta Progreso increased benefits for customers in their savings and expenditures, financing facilities in traditional products (personal credit, vehicle loans, deferred credit). Mortgage loans grew by 9.4%, credit cards to 14.9% and consumer loans to 2.7%.
About Banco del Progreso:
Banco del Progreso is a company in the Financial Services portfolio of assets administered by VICINI.
The VICINI family has invested in different economic sectors in the Dominican Republic for over 140 years VICINI is one of the companies that has contributed significantly to the development and industrialization of the country.
Source: Listin Diario