The Banco BHD and Banco Fiduciario announced a merger. The merger of the operations will be effective 1 January 2000. The banks will continue operating independently until 31 December of this year. The agreement brings together capital of RD$1,300 million, assets of RD$14,500 million, 70 offices and branches and 90 ATMs throughout the nation. Both banks are strategic partners with Banco Sabadell of Spain and Popular Inc. of Puerto Rico. The merger was explained as a way to achieve greater operational efficiency and synergy in business, as well as increase their competitive advantage in markets.
