Banco Popular Dominicano channels 40.6% of the total credits directed to the national industry. This participation represents an increase of 120 basis points compared to the previous year, consolidating its position as the main financial driver of the sector.
The financing portfolio allocated to the industry amounts to RD$66.646 billion, which represents an absolute increase of RD$7.643 billion compared to the previous period, equivalent to an annual growth of 13%.
This financial backing encompasses solutions designed to support both the daily operation and the investment and expansion plans of industrial companies, directly contributing to their development and competitiveness.
As part of its strategy, the banking entity promotes initiatives aimed at the digitalization of processes, facilitating the operational and financial management of industries. These actions are complemented by programs focused on sustainability and the adoption of responsible environmental practices within the productive activity.
El Popular expands this contribution with an offer of financial products and strategic alliances aimed at the modernization of processes and access to new markets by local industries.
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High impact of manufacturing on the economy
These results are presented in the context of the study “Quantifying the contribution of the industry: production chains and multiplier effect of local manufacturing”, prepared by the Association of Industries of the Dominican Republic (AIRD) and sponsored by Banco Popular, among other banking entities.
The analysis places the participation of manufacturing in the gross domestic product at 12.5% and shows its strong multiplier effect on the economy. For every RD$100 generated in sales, RD$42 are allocated to the purchase of local goods and services, RD$29 correspond to national added value and RD$29 to imports.
Likewise, the findings show that the sector makes local purchases for RD$647 billion and generates 2.9 indirect jobs for every direct job, reflecting its ability to boost other economic activities.
In the field of foreign trade, manufacturing accounts for 43% of the national exports of the local regime and has a presence in more than 120 international markets. In addition, it contributes 21% of the country’s internal revenue, consolidating itself as a key pillar for public finances
