The Best Bank in the DR & Caribbean

NALs

Economist by Profession
Jan 20, 2003
14,618
3,735
113
Global Finance categorized Banreservas as The Best Bank in the Dominican Republic 2023 (second time) and The Best Bank in the Caribbean 2023 (fifth time).

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Gadfly

member
Jul 7, 2016
1,330
835
113
They’re nice but their ATMs only give 12 mil max. And their tag line makes me feel a tiny bit excluded.
 
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NALs

Economist by Profession
Jan 20, 2003
14,618
3,735
113
All money figures are in US dollars.

Banreservas, our best bank in the region, was able to seize the many opportunities created by this thriving environment and post best-in-class growth throughout the year.

The bank’s deposits reached a remarkable $14.2 billion, up by $1.3 billion from 2021, giving the bank an estimated 41% market share in the domestic Dominican banking system. Furthermore, the private sector deposits rose to $9.9 billion, while the public sector’s reached $4.3 billion.

Banreservas also achieved outstanding profitability ratios, with a 2.3% return on assets, for 6% growth compared to December 2021; and a 34.9% return on equity (ROE), for 8% growth in the same period. In addition, the bank demonstrated its financial strength through a solvency ratio of 13.8%, a risk coverage of 752.7% and a 68.7% efficiency rate.
In December 2022, Banreservas became the first bank in the Dominican Republic to reach the impressive benchmark of $18.1 billion in assets. For that, Banreservas also takes our award for the best bank in the Dominican Republic.

Could this be another case of DR1ers not knowing what they are talking about? :unsure:
 

NALs

Economist by Profession
Jan 20, 2003
14,618
3,735
113
Reminds me of what this Dominican in the Dominican private equity sector said not too long ago regarding this impression of Dominican professionals after returning to the DR from the USA and meeting some.


Hmm, seems what he thought 9
of Dominican professionals in the public sector before and after getting to know them from experience are two different things. From the loos of things, he wasn’t expecting that outside the Dominican private sector.

Something tells me that a good chunk or most DR1ers think like he did of Dominican professionals before meeting them in person.
 

RollingStone

Member
Nov 9, 2019
48
33
18
I'm a US citizen on a tourist visa and opened up dollar and peso savings accounts at Banreservas a few months ago. The accounts were opened within 30 days of entering the country. I only needed my passport and three months of bank statements which I sent to their customer service rep through email.

The exchange rate when using the dollar debit card to withdraw is favorable and I can withdraw up to $50,000 pesos per transaction at the ATM. Lines for tellers or customer service have been short as long as you don't go at the middle or end of the month and the employees have been professional. I've used their website to make transfers to pay my rent and it was relatively easy to navigate. Overall I'm very please with their service and it's much easier to move money around.
 

Lucifer

Silver
Jun 26, 2012
5,029
942
113
This award and recognition has a "Wag the Dog" resemblance: Caso Calamar exposed the blatant corruption at the highest level of BanReservas.

And since most Dominicans have suffered permanent damage to the hippocampus, they lack long-term memory.
Now, this recognition is the talk of the town.

I could hear the Church lady exclaim, "Well, how convenient."
 
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rey

Active member
Jan 2, 2007
592
135
43
Question : are US CITIZENS who are residing in the country without a RESIDENCIA or cédula NOT allowed to open a credit card ?

IS THAT TRUE ?
 

MariaRubia

Well-known member
Jun 25, 2019
2,910
3,924
113
I recently opened an account with Scotiabank and I think it's a good option for expats. Their IT is better than most Dominican banks, they "get" that things like apps and websites are important to their business and they have obviously had them written properly. Unlike Banco "mi amor no tengo sistema" Popular. And for English-speakers everything is presented beautifully in English as the bank's main language is English. I've also found they "get" the idea of customer service, experience in solving problems to date has been very good, they do actually call you back, they do try to solve problems, and they do see you bang on time if you have an appointment. So I'd definitely recommend them.
 

MariaRubia

Well-known member
Jun 25, 2019
2,910
3,924
113
If Banreservas is the best bank in the Caribbean, then you should definitely keep your money out of the Caribbean.

One of my friends banks with Reservas, he's a director of a big company, earning very good money. Every month he screams that they stop him from being able to do something simple like pay his phone bill or transfer money.
 
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Buffness

Self-imposed banned🫢
Oct 9, 2014
399
227
43
Looks great until you look up the group that made the award and realize it's owned by an affiliate they paid.
Yes .

Pure Marketing IMO. Our company has been getting regular emails from such “groups” …usually trade magazines …..telling us …. “Your company was voted the best ……in Latin America….” ….and in the same email …further down ….they say “To make this recognition even more compelling, we will also provide you with the Certificate of Honor, Recognition Logo……reprint rights…” …..”…for $3,500 USD” . 😬 .

It’s like telling everyone that you are “the best “ because your chapiadora said so . 😬😩Next !.
 

SKY

Gold
Apr 11, 2004
14,798
4,907
113
BanReservas is owned and run by the Dominican Government...........
 

Squat

Tropical geek in Las Terrenas
Jan 1, 2002
2,258
178
63
I don't necesarly disagree with all written by above messages, but I am with BR since 2004, and I am satisfied. I have also been with Banco Mercantil, Baninter, Popular, Scotia & Santa Cruz over the years, but BR isn't worst than any of them. I do mostly everything online, no complain.
 

NALs

Economist by Profession
Jan 20, 2003
14,618
3,735
113
Now EuroMoney picks Banreservas as the best bank in the DR. This is the 7th time they pick this bank.

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XQT

Well-known member
Dec 7, 2022
469
425
63
Puerto Plata
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