Oct 2006 Financial News

RBL shifts focus in the DR

Oct 25, 2006

Republic Bank is moving away from personal banking services in the Dominican Republic. The bank will concentrate on the corporate market, according to a release issued Monday.

Republic has sold its personal bank portfolio comprising loans, credit cards and selected deposits together with 14 branches to Banco BHD. The sale became effective on October 3.

Republic has a network of subsidiaries and affiliates in the region and has an asset base of US$5.7 billion. According to David Dulal-Whiteway, Managing Director, Republic Bank Limited, “We are confident that this approach will successfully meet the needs of the market.”


The Trinidad Guardian
Wednesday, October 25, 2006.
http://www.guardian.co.tt/business2.html