Most business leaders and economists believe that the arrival of foreign investment in domestic banking will prove beneficial for the financial sector as a whole. Economists Carlos Despradel and Eduardo Latorre think that participation of foreign banks in the Dominican financial market could be an opportunity for the country to modernize its banking system because the newcomers will bring much-needed technology.
They also maintain that this proves that investors consider the country a safe place for foreign investment. These, and other positive comments from business leaders, were made after Bancomercio revealed it had approved the sale of 51 percent of its shares to the Banco Central Hispano of Spain. Most foreign banks left the country in the mid-80s.
The governor of the Central Bank, Hector Valdez, denied rumors that some banks were currently experiencing serious financial difficulties. He said that the local banks have deposited about RD$7,800 million in the Central Bank with RD$1,500 million in excess liquidity.