Banco de Reservas manager Vicente Bengoa Albizu revealed yesterday, Tuesday 18 June that the state bank’s Board of Directors had approved the transfer of RD$3.17 billion of its earnings to the central government. This order was executed on Friday, 14 June, by means of a transfer to the National Treasury. He said that added to this sum is RD$450 million for a total of RD$3.628 billion, because this year they have transferred 1.4 billion square meters (m2) for the construction of 35,000 low-cost housing units in the Juan Bosch City project.<\/p>\n
Bengoa reported that BanReservas has passed the RD$300 billion mark in assets this month, becoming the country’s first financial institution to reach that figure. He reported that in the five years from 2007 to 2012, BanReservas has transferred RD$10.3 billion in earnings to the Central Government and in income taxes and the 1% on productive assets it has paid another RD$4.473 billion, for a total of RD$14.773 billion.<\/p>\n
He said that this year during the first five months, the net earnings reached RD$1.261 billion, while during the same period last year the total was RD$684 million. He pointed out that the earnings grew by 84%, adding that “we can conclude that in terms of earnings 2013 will be very superior to 2012, despite the fact that this year we paid RD$497.6 million of the 1% on productive assets.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Banco de Reservas manager Vicente Bengoa Albizu revealed yesterday, Tuesday 18 June that the state bank’s Board of Directors had approved the transfer of RD$3.17 billion of its earnings to the central government. This order was executed on Friday, 14 June, by means of a transfer to the National Treasury. He said that added to … <\/p>\n