Popular bank grows 23% on Dominican, foreign branches

SANTO DOMINGO.- Popular bank president Manuel A. Grullon said the performance of its local and international branches led to a sustained rate of growth of its total assets of 23 percent.

He said its loans portfolio also rose 33.8 percent; total deposits rose 21 percent and its technical assets grew 54 percent, for a solvency index of 14.63 percent; whereas net utilities grew 38 percent higher than a year earlier.

He said that Inversiones Popular continues its position as leader of Registered Issues trader, trading 45 percent of all the negotiated operations of the secondary market in the Dominican Stock Market in 2007, with a total volume of RD$5.8 billion.

Grullon, speaking in the Popular stockholders meeting, said at the close of 2007 the Popular Pensions Funds Administrator reaffirmed its leadership in that market, with 37 percent of the funds managed under the individual capitalization