The Latin American Financial Services (LAFISE) Bank of Nicaragua is the latest arrival on the Santo Domingo banking scene. Bank president Roberto Jose Zamora announced the opening of a first branch at its Av. Abraham Lincoln location on 7 May. He said the bank would service market niches not best served by other banks already operating here.
Banco LAFISE is the leading financial group in Central America with branches in Nicaragua, Panama, Honduras and Costa Rica.
The Dominican Republic has a free trade agreement with Central America (DR-CAFTA) that has led to an increase in Central American exports and investments in the Dominican market.