LONDON, July 25, 2018 (GLOBE NEWSWIRE) -- Financial services in the Dominican Republic have come a long way in a relatively short space of time. In 1960, there were only seven formally regulated financial institutions, but by 1985 there were 78. This number has continued to grow in the years since and, today, customers have access to a wide range of investment options, mobile banking and a number of other services. As the country’s leading bank, Banreservas has been a key driving force behind these developments.
In recognition of the bank’s work, World Finance magazine has named Banreservas the Best Banking Group in the Dominican Republic for 2018. As well as providing Dominicans with cutting-edge digital solutions, the bank’s efforts to improve financial education and inclusion have been noteworthy.
In what was a fantastic year for the bank, Banreservas also received three other awards: Best Commercial Bank, Best Retail Bank and Best Investment Bank.
This acclaim can also be attributed to the bank’s many initiatives supporting Dominican businesses. Banreservas has made significant investments in some of the most instrumental sectors in the country, including agriculture and tourism. It further supports small and medium size business through educational programmes and banking solutions, while also spurring the growth of family remittances. These sectors play a pivotal role in the Dominican economy, thus making them a priority in Banreservas’ long-term strategy.
Banreservas also understands that financial organisations have a responsibility to help those less fortunate. As such, the bank has allocated RD$6bn to finance rice production across the 2018/19 financial year, generating employment and wealth throughout the country’s agricultural sector.
For more about the World Finance Banking Awards 2018, check out the latest edition of World Finance, available in print and online now:
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