Savings Deposits grow 123%
In just six years, the deposits of savings banks (savings accounts, time deposits and certificates) have grown by more than RD $ 256 billion, equivalent to 123%, demonstrating the confidence of the public, especially individuals in multiple banks.
The confidence of customers, and boost the growth of 2.2 times, has risen to 81% the participation of Savings Deposits in total deposits of banks, because, while in 2005 the RD $ 207,341.6 million saved by the customers accounted for 77% at the close of 2011 this amount totaled $ 463,952.3 million DR.
This growth in deposits, which relies on individuals, facilitated the expansion of credit, which resulted in increased investment, new businesses, create jobs, increase domestic production, among others, benefiting economic activities in general "said the president of the Association of Commercial Banks of the Dominican Republic (ABA), Jose Manuel Lopez Valdes.
