The Superintendeny of Banks (SB) reports RD$2.1 trillion in savings in Dominican banks as of the end of 2021. The Presidency reports that this is around 40% of the nominal Gross Domestic Product (GDP). Deposits were up RD$271 million, or 17.3% compared to 2020. The data is from the Trends in Savings in the Dominican Republic publication of the Superintendency of Banks.
A breakdown of the system’s deposits:
Savings accounts — 43.8%
Securities held by the public – 21.4%
Checking accounts — 21.3%
Time deposits — 13.5%
Multiple banks concentrate 89.3% of total deposits (RD$1.91 billion). The rest is distributed in 8.8% of savings and loan associations, 1.6% of savings and loan banks, while credit corporations and public financial intermediation entities account for 0.2% and 0.2%, respectively.
At the end of last December, deposits in foreign currency represented 29.7% of the total. 97.9% of foreign currency deposits are in US dollars. Deposits in the Euro account for 2.1%.
The East and Metropolitan regions had the highest year-on-year increases in deposits at the end of December 2021, with an expansion of 21% and 20%, respectively, followed by the North and South regions with growth rates of 11% and 9% each.
Personal deposits lead in deposits with accumulated values of RD$1.16 billion (54% of the total), followed by companies with RD$509 billion, equivalent to 24%.
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Presidency
19 April 2022