Fitch Ratings has announced a decrease in the Banco Popular’s rating from Positive to Stable due to Fitch’s expectation that the current and expected challenges in the country’s operating environment could limit improvements in the bank’s financial performance. Fitch recently downgraded the Dominican Republic as a whole and an upgrade for Banco Popular is limited unless there is a positive change to the country rating.
Banco Popular is the second largest commercial bank in the country with a 23.36% market share of total assets in October 2012.
www.reuters.com/article/2012/12/17/idUSWNB220120121217