Banco Popular Dominicano ratifies AA+(dom) rating

Banco Popular Dominicano’s operations were ratified with an AA+ (dom) rating, according to Fitch Ratings, which highlights its stable outlook and the bank’s leadership in the Dominican Republic’s financial system.

Specifically, Fitch Ratings underscores Popular’s business model, stable profitability, healthy portfolio quality, good capitalization and adequate liquidity management, factors that allow it a diversified revenue base that supports its consistent results.

The Fitch rating agency expects the bank to maintain its organic growth, taking into account its conservative profile, portfolio quality, ample reserve coverage and adequate profitability, identifying it as a “safe haven bank” in times of systemic stress.

“The measures implemented and a close monitoring of the most exposed sectors allowed controlling the deterioration of assets,” notes the global risk rating agency, which also analyzes the Dominican economy.

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