As of February of this year, the credit portfolio consolidated from Dominican financial system was RD$1,637,333.8 million, so when compared to the end of 2022, which was RD$1,618,276.4 million, the net growth in the first two months of this 2023 was approximately RD$19,057 million, equivalent to 1.17%.
According to the Superintendence of Banksduring 2022 the financial system registered an increase of more than RD$161,731 million in deposits in savings accounts (considering savings accounts, checking accounts and term deposits). However, the increase in the loan portfolio was RD$210,792.3 between December 2021 and the same month in 2022, so the net increase in the debt of system users was RD$49,061.3 million in 2022.
One of the most relevant data shown by the statistics, in addition to the expansion of the loan portfolio, is the concentration of financed resourcessince more than half (51.3%) is registered in the National District, which could be related not only because it is the main financial center of the country, but also because the main offices of the companies with the greatest demand for resources are located in the capital .
The second demarcation with a greater participation in the credit portfolio is Santo Domingo, in which RD$258,633.4 million were reported at the end of 2022, that is, 15.98% of the total portfolio, followed by the province of Santiago with RD$153,279.6 million, for a weighting of 9.47%. La Altagracia, where the country’s main tourist hub is located, participates with 4.7% by closing last year with RD$75,776.9 million.
The Superintendency of Banks, in its report on “Savings trends in Dominican Republic: perspective from the deposits of the financial system”, 42.0% of the total saved balance is placed in savings accounts, followed by term deposits (36.7%) and checking accounts (21.3%).
It is worth noting that as of December 2022, there are 11.1 million accounts in different deposit instruments, an increase of 421,456 (+4.7%) compared to June 2022. Of these, he points out, 85.2% of the number of instruments corresponds to deposit accounts. savings, while the regions with the greatest dynamism in terms of deposits are Eastern and Metropolitan, with year-on-year growth of 10.7% and 7.9%.
Regarding the consolidated balance sheet in the csavings, current and deposit accounts In the term, they maintain that the Metropolitan region observes a participation of around two thirds (66.9%) of the total of this type of deposits.
Regarding the growth of credit to the three main destinations, the data establishes that in the National District there was a net increase of RD$91,881.2 million between 2021 and 2022, 12.4%.
In Santiago it increased by RD$41,388.3 million, going from RD$217,245.1 million to RD$258,633.4 million, equivalent to 19.1% in the analyzed period.
Stake
The Superintendence of Banks (SB) establishes that 15.4% of the commercial credits of the Dominican banks are destined to the financing of industrial production.
The document highlights that financing to this sector increased RD$4,635 million, for a real year-on-year growth of 11.4% in 2022.
At the end of the year, the industry had 35,811 loans registered, with a balance owed of RD$131,738 million, which represented 8.3% of the total portfolio of the system.
“The national industry in the context of the Dominican financial system, it shows indicators at stable levels and with a favorable outlook, despite the international economic situation”, according to the SIB.