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Pacific Credit improves Banco Promerica’s rating

Santo Domingo, February 2019.– Given the indicators of equity solvency and the growth of its assets, as well as the recent achievements in the financial management of Banco Promerica Dominican Republic, the risk rating company with international coverage Pacific Credit Rating PCR, improved its short-term emissions rating of DO3 to DO2; it also unanimously ratified the long-term BBB + rating, with a stable outlook.

This PCR report also highlights the adequate level of liquidity, exceeding the previous year and the system average, the recent corporate reorganization of the Bank and the economic support of the Promerica Group.

In addition, the rating analysis argues that the Bank’s equity increased, with paid capital being the main growth factor, for fresh capital contributions by shareholders.

The executive president of Banco Promerica, Carlos Julio Camilo, explained that it is the interest of this entity to strengthen its presence in the Dominican market. To achieve this, the bank has engaged in a novel transformation of its internal processes, and in a new commercial management model, supported by the solvency, innovation, and know-how of Grupo Promerica, one of the most important financial groups in Latin America.

Carlos Julio Camilo also stressed that Banco Promerica’s business strategy is based on the sustainable growth of personal banking segments, as well as small and medium-sized businesses, with a special focus on creating a culture of closeness with customers, of innovation and agility, which is led by the experience and local knowledge of the team of executives and collaborators of Banco Promerica Dominican Republic and Grupo Promerica.

The BBB category corresponds to those entities that have a sufficient capacity to pay their obligations under the agreed terms and terms, and with sufficient protection factors, and category 2 represents the emissions with certainty in the timely payment, liquidity and others issues.

About Banco Promerica

Based in Santo Domingo, Banco Promerica is multiple banks with more than 15 years of local presence, with an emphasis on personal customer service, small and medium-sized businesses, as well as the credit card business.

Banco Promerica is a member of Grupo Promerica (through the controlling company Promerica Financial Corporation), consisting of a group of nine banks operating in Central America, Ecuador, Cayman Islands, and the Dominican Republic.

Through the financial services that Grupo Promerica offers, it contributes permanently to financial inclusion, as well as to the economic progress of the different societies and communities it serves.

About Pacific Credit Rating

It is a company specialized in Financial Ratings with international coverage in the continuous expansion process. It operates in Latin America with physical offices in Mexico, Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panama, Ecuador, Peru, Bolivia, and the Dominican Republic.

It establishes its value relationship with clients on the basis of Prestige, Quality and Agile Response in various markets and sectors, having positioned itself as a leading risk rating company and being recognized for its independence and credibility.

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