Only 4.4% of private banks’ clients receives 85% of loans issued, whereas 95% of the clientele receives 4% Banking Superintendent, Rafael Camilo told Hoy newspaper in an interview today. This data reflects the level of concentration of wealth and income in the country. In 2004, loans were made to 46,451 clients out of which 44,418 were lower than RD$5 million each for a total of RD$18.4 billion, equivalent to 14.9% of the amounts lent. The remaining 2,033 clients, or 4.4% of the total, received loans higher than RD$5 million each for a total of RD$105.2 billion. This means that fewer than 5% of the banks’ clientele receives five times more resources than the remaining 95%. Camilo said that the regulation of loans for the higher debtors is stronger than for the lower ones, the reason being that payment capacity is a requisite for loans, to protect the savers’ resources. He does not agree with bankers who claim that the overabundance of liquid assets in banks and the decline in loans issued are the result of the new asset evaluation regulation in effect since January this year. He attributes this situation to the economic crisis that affected the country during the previous government administration. He said that the new rulings in effect that have been protested by the banks actually only affect the 4% that make up the larger clients. He said that on the contrary, the small debtors that demand five million or less, stand to gain.
Banks Superintendent Rafael Camilo has said he is not budging on the new requirement that banks accept as valid for loan assessments only the company financial statements submitted by companies to the Tax Department.