Banco Popular: Nurturing the Aspirations of the Dominican Republic

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Francisco García, Vice President of Investment Banking and Leasing for Banco Popular Dominicano, emphasizes the bank’s pivotal role in the Dominican Republic’s economic landscape. As the leading private bank in the country, Banco Popular’s influence extends to tens of thousands of lives daily. Garcia underscores the institution’s commitment to the well-being of present and future generations by supporting both individual and business aspirations.

Digital transformation stands at the forefront of Banco Popular’s decision-making processes. Garcia emphasizes the integration of innovative technologies to simplify customer experiences, enhance process efficiency, and broaden the bank’s societal impact. The bank’s focus extends beyond individual needs to nurturing local industries, acknowledged as vital sources of employment and development in the Dominican Republic.

Banco Popular offers tailored financing solutions for local industries, such as Leasing Popular, facilitating the acquisition of various assets crucial for business operations. Notably, Leasing Popular Verde extends support for sustainable practices, enabling customers to invest in solar panels and electric vehicles.

Garcia emphasizes the significant role Banco Popular plays in the country’s tourism sector, providing nearly half of the financing in this crucial industry. The bank collaborates with the Ministry of Tourism in the ‘Tourism in Every Corner’ campaign, promoting exploration beyond traditional destinations. The initiative aims to foster economic growth, stable jobs, and sustainable practices while preserving cultural and natural resources.

Sustainability is ingrained in Banco Popular’s core values. The bank became the first in the Dominican Republic and the Caribbean to join the United Nations Environment Programme Finance Initiative in 2019. Garcia highlights the ‘Hazte Eco’ initiative launched in 2020, creating a green portfolio of financing solutions that continue to grow. The bank’s commitment to reducing its environmental footprint includes initiatives such as solar panel installations, efficient light and water control systems, and recycling programs for employees and clients.

Sustainable financing is a cornerstone of Banco Popular’s business model. The bank has actively participated in financing renewable energy projects, contributing over $380 million to more than 400 MW of renewable energy in the Dominican Republic. Garcia expresses the bank’s goal to increase this portfolio to over 1,000 MW across 18 projects by the end of 2023. Education is identified as a catalyst for sustainable economic development, and Banco Popular’s scholarship program, Excelencia Popular, stands as the largest in the Dominican financial sector, particularly supporting STEM-related careers.

Looking ahead, Garcia outlines Banco Popular’s commitment to realizing customer aspirations, promoting socioeconomic development, and maintaining a clear dedication to sustainability. The bank’s strategy involves continuous engagement with customers, delivering the latest innovations to enhance competitiveness locally and internationally, and growing in tandem with their success.