Banco Promerica celebrates 22 years of service in the Dominican Republic

• The bank, part of Grupo Promerica, highlighted the institution’s growth, climbing 6 places to become the 5th largest private bank in the financial sector.

• Since June 2019, business volume has grown to RD$45,750 million in total assets, an average annual growth of 48% over this period.

Santo Domingo, August 2022.- Having become one of the most competitive, dynamic and best-performing banks in the Dominican financial system, the executives of Banco Promerica celebrated its twenty-second anniversary in the country at a gathering with personal and corporate customers, partners, and its staff and associates.   

The executive president of Banco Promerica in the Dominican Republic, Carlos Julio Camilo, thanked all its customers and strategic partners for their trust. “Banco Promerica has been the most outstanding bank in the entire Dominican financial system in the three years since our last customer event in mid-2019, so we are extremely proud to be able to tell you what this success story has involved.”

Camilo shared the key factors behind the institution’s growth, notably its CIA culture, which promotes closeness, innovation and agility in everything it does, and its people: “our people are our greatest asset, more than 600 employees who work passionately to build lasting relationships of trust,” said Camilo. He also highlighted the importance of structuring its strategic plan, which consolidates the vision and roadmap of its main initiatives, as well as its investment in digital transformation, which has enabled it to deliver innovative and competitive solutions that exceed customers’ expectations.  

During the celebration cocktail, they presented the results achieved over the last 3 years, including RD$45,750 million in total assets and a RD$23,650 million loan portfolio, representing average annual increases of 48% and 45% respectively over the period.   

As for its customer base, the institution has grown +21% annually in the number of active personal customers and +87% in its business portfolio. Transaction amounts through its Digital Banking also rose +219% over the same period.

Among its achievements, Banco Promerica became the first institution with digital wallets for credit and debit cards, and one of the first financial institutions to enable digital onboarding for accounts through its Digital Banking. Promerica was also the first multiple bank to join UNARED, the country’s largest ATM network, expanding transaction channels for customers, who also have more than 600 payment points nationwide through the bank’s partnership with Paga Todo.  

Along the same lines, Camilo highlighted the awards the institution received from Pan Finance Awards as “Digital Bank of the Year 2022 and Excellence in Financial Inclusion”. It was also selected by Summa magazine as one of the banks with the “Best Customer Service and Best Human Talent Practices”.  

In terms of expansion, it opened two new branches, located on Máximo Gómez Avenue and 27 de Febrero Avenue.

Among the new additions to its product portfolio, it presented its new Visa Gold Plus credit card, which will be an ally for customers’ everyday purchases and offers multiple benefits in the main retail categories.

Soon, Banco Promerica will launch new solutions, including digital onboarding for Credit Cards, allowing customers to apply for the product through their Digital Banking, get approval quickly and receive the card wherever they are.

To close, Camilo said that Promerica’s main mission is to become its customers’ preferred bank, offering them close, innovative and agile service, as well as the financial support that enables them to go beyond their limits and achieve the success they deserve.

The event was attended by members of the Board of Directors of Banco Promerica, representatives of the Superintendency of Banks and the Association of Multiple Banks of the Dominican Republic, as well as executives from Grupo Promerica, strategic partners, customers and media representatives.

About Banco Promerica

Headquartered in Santo Domingo, Banco Promerica is a multiple bank with 22 years of local presence, focusing on personal customers, small and medium-sized businesses, corporate and institutional clients, and the Payment Methods business. Banco Promerica is a member of Grupo Promerica (through the holding company Promerica Financial Corporation), made up of nine banks operating in Central America, Ecuador, the Cayman Islands and the Dominican Republic.

Through the financial services it offers, Grupo Promerica constantly contributes to financial inclusion and to the economic progress of the societies and communities it serves.

About Grupo Promerica

Grupo Promerica is one of the most important regional financial groups, with total assets of around US$18.6 billion and equity of around US$1.5 billion, more than 2.7 million customers and a customer service network of more than 750 branches and agencies and more than 1,170 of its own ATMs.

Through the financial services it offers, Grupo Promerica constantly contributes to financial inclusion and to the economic progress of the societies and communities it serves.

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