Dominicans are good borrowers

[Dolores]

Data from the Central Bank reveals an exceptionally low loan delinquency rate nationwide of just 1.3% across the country’s financial system, Diario Libre reports, citing a Central Bank report.

The findings are that out of every 200 loans approved by registered financial entities, only two remained unpaid.

Diario Libre shares the Central Bank findings that points out that this exceptional performance places the Dominican Republic far ahead of its regional peers, outperforming countries such as El Salvador (1.9%), Honduras (2.1%), Costa Rica (2.3%), Guatemala (2.3%), and Panama (4.0%) in terms of credit risk management.

The Central Bank attributes the low delinquency to a combination of prudent credit extension practices and historically low delinquency rates.

Read more in...

Continue reading...

 

[SKY]

They may be good borrowers, but they are the WORST payers...................

 

[Manuel01]

A nice way to clean up a statistic ! "out of 200 loans .....only two remain unpaid" YEAH RIGHT. They sale financed cars to almost anybody today. The poor bastard(s) somehow manages to get the requested 20% Down Payment and somehow pay a few of the monthly quotes. Than you have another few month of late and/or partly payments and finally the Bank takes the car away. Client is left totally broke and with a bad credit for years, Car is than sold to a "Dealerbuddy" and the loan is "paid off". And here we have another Loan "Fully paid off" that want make it into this statistic.

 

[CristoRey]

They must be speaking about loans provided to 0.0001 percent of the population and from what I'm told, the more money they have the less likely they are to pay a loan back.

 

[El Hijo de Manolo]

Continue reading...

Meanwhile, data sources for this illusive loan delinquency rankings, here is a more familiar way to look at things:

Rank,Country,Moody’s Rating
1,Chile,A1
2,Peru,Baa1
3,Colombia,Baa2
4,Mexico,Baa2
5,Panama,Baa2
6,Uruguay,Baa2
7,Guatemala,Ba1
8,Paraguay,Ba1
9,Trinidad and Tobago,Ba1
10,Brazil,Ba2
11,Bahamas,Ba3
12,Dominican Republic,Ba3
13,Costa Rica,B2
14,Jamaica,B3
15,Honduras,B3
16,Nicaragua,B3
17,Bolivia,B3
18,Guyana,B3
19,Barbados,Caa1
20,Cuba,Caa2
21,Ecuador,Caa3
22,Belize,Caa3
23,El Salvador,Caa3
24,Suriname,Caa3
25,Argentina,Ca
26,Haiti,C
27,Venezuela,C

 

[Lucifer]

Fulano de tal, the would-be borrower: <<Oye, pariguayazo, 'toy en olla y necesito que me pre'te algo pa' e'chale gasolina aL motoL>>.

Me: <<Lo siento, pero no tengo ni en qué caerme muerto, mi hermano>>.

Fulano: <<Si, manín, poL faBoL. Tú sabes que yo te lo pago: yo soy cri'tiano>>.

 

[ando1991]

I thought someone was telling a joke.
Good borrowers and left out, horrible in paying back.

 

[SKY]

Most banks demand a GPS be installed in any car on loan. I wonder why?.............

 

[pinonuevo]

The Dominican Government still owes people money from land taken by eminent domain when
Balaguer was president.
They took land by eminent domain from me in Juan Dolio and paid me $ 250.00 pesos per meter and when I had to pay taxes for a piece o land in the same place they charged me @950.00 per square meters during the same period of time.

People that do work to the government in DR get paid late or not at all. That is the main deadbeat borrower.

My workers are constantly asking for loans .....the only reason they pay is because I deduct it from their pay......they constantly want to revise the terms of repayment. I give them Zero interest loans and still do not want to pay back.

 

[Buffness]

People that do work to the government in DR get paid late or not at all. That is the main deadbeat borrower.

My workers are constantly asking for loans .....the only reason they pay is because I deduct it from their pay......they constantly want to revise the terms of repayment. I give them Zero interest loans and still do not want to pay back.

👆There it is! True. Our employees do the same.

Many Dominicans believe banks are 'ladrones' anyway, indicating low or zero trust. A lot of working Dominicans and business owners have a significant amount of debt...to banks?

If loan delinquency is low in the Dominican Republic, their lending strategies and credit collection methods may have something to do with it, but that's a topic for another day.

 

[Manuel01]

👆There it is! True. Our employees do the same.

Many Dominicans believe banks are 'ladrones' anyway, indicating low or zero trust. A lot of working Dominicans and business owners have a significant amount of debt...to banks?

If loan delinquency is low in the Dominican Republic, their lending strategies and credit collection methods may have something to do with it, but that's a topic for another day.

"believe banks are 'ladrones' anyway" !? Sure they are ! i get weekly a sms to please get my pre authoized loan for "only" 28.42% of interest. How would you call them. ???

 

[MoJoInDR]

So on the one hand... The DR is booming... But on the other hand... The DR workforce is inherently "...ladrones...".

Hmmmm... What's really going on here?

What (or more specifically, who) exactly is booming?

 

[drstock]

So on the one hand... The DR is booming... But on the other hand... The DR workforce is inherently "...ladrones...".

Hmmmm... What's really going on here?

What (or more specifically, who) exactly is booming?

Like everywhere else - the top one per cent or so.

 

[MoJoInDR]

Like everywhere else - the top one per cent or so.

BOOM!