BANCO POPULAR CONTINUES TO STRENGTHEN ITS FINANCIAL INDICATORS

Banco Popular Dominicano demonstrates positive achievements for the first quarter of 2005 as shown in the recently published financial statements for the period ending on March 31, 2005.

Total shareholders equity grew to RD$7.63 billions, which represents an absolute increase of RD$1.03 billions compared to the previous year, complying with the prudential requirements established by the monetary authorities.

During the first quarter of the year, the institution continued its growth showing a remarkable increase in its levels of liquidity, reflecting the institutions corporate policy towards continued support for the recovery of the country’s economic situation.

To that end, at the close of the month of March, total deposits amounted for RD$70.79 billions, reporting an increase of RD$4.66 billions in respect to the previous year.

On the other hand, the total assets of the institution grew to RD$81.799 billions, representing an increase of RD$3.38 billions from the previous year.

In addition, the credit portfolio amounted to RD$32.70 billions and maintained sufficient loan-loss reserves allowing a past due credit coverage of 135%, totaling a total value of RD$2.14 billions at the closing of the first quarter.

Net earnings increased to RD$253 million, fulfilling established budgetary objectives for the period.