This initiative proved successful, with non-interest income now an important source of revenue, having a direct impact on the bottom line. The creation of a corporate governance and compliance division was another initiative, whose purpose is to safeguard and improve the condition of the bank’s shareholder base.
Throughout 2006, Banco Popular continued to improve its business segmentation strategy. Under this approach, every client was assigned to a business segment. For example, a business segment was created specifically for the tourism sector, which takes advantage of the growth offered in tourism by assigning a team to cover these needs.
“We are very pleased about this recognition of the work done by our managers and employees, and of the trust that our customers and society have demonstrated towards Banco Popular Dominicano,” says Manuel A Grullón, president of the bank. “The bank has continued to grow and strengthen its balance sheet. During the first quarters of 2007, we have seen a significant improvement of the main financial ratios. We are happy to see that our values-based business model produces financial and personal achievements that distinguish Banco Popular Dominicano’s leadership.”
