The Republic Bank of Trinidad and Tobago and the Banco Mercantil of the Dominican Republic have placed a full-page announcement in the economic section of today?s Hoy. It simply states that the president and director general of the Republic Bank Group was satisfied with the progress made over the last 10 months with the Banco Mercantil takeover. Ronald Harford said, ?After the acquisition (of the Banco Mercantil), growth of the bank has exceeded our expectations. With our experience and a prudent administration, (Mercantil) has constantly been getting better.? What is more interesting is the next paragraph, which points out some of the terms of the acquisition. In August of 2003, the Banco Mercantil was acquired by the Republic Bank. The audited financial statements of the bank up to 30 September 2003 are currently undergoing the finishing touches by the auditing firms of Price Waterhouse (auditors of the Banco Mercantil) and Ernst & Young (auditors for Republic Bank). Banco Mercantil, a subsidiary of the Republic Bank of Trinidad and Tobago, continues to operate under the supervision of the Superintendent of Banks and the Central Bank of the Dominican Republic, with whom it has maintained at all times a constructive relationship focused on the consolidation and future development of the institution. The announcement concludes by saying how appreciative the Republic Bank is of the statements offered by the governor of the Central Bank, who said there were no risks for any of the Banco Mercantil depositors. The Republic Bank recognizes a growth market in the Dominican Republic of tremendous opportunity for Trinidad and Tobago, and emphasizes the fact that it possesses over US$5 billion in assets, patrimony of US$540 million and a 19% solvency index to back its Mercantil subsidiary.