SANTO DOMINGO.– The regulated financial intermediation entity Optima Corporación de Crédito, SA satisfactorily completed the requirements of Monetary and Financial Law 183-02 to become a Savings and Credit Bank, under the name of Banco Optima de Ahorro y Crédito, SA
The final approval was granted by the Monetary Board at its session on October 27, 2022, after receiving a favorable recommendation from the Superintendency of Banks and the Central Bank.
Optima is an entity that has been operating since 2009, mainly serving the financing segment of new and used vehicles. According to the information provided by the SIMBAD system of the Superintendency of Banks, the entity presented a return on assets (ROA) of 4.27% as of September 2022 compared to 2.58% in the financial sector, a return on equity (ROE) of 20.26% versus 14.79% of the sector and a solvency of 20.06%, which represents more than double what is required by regulations. Its loan portfolio is mainly oriented towards consumption, with 63% in this line, 28% in commercial loans and 9% in loans for home purchase.
The entity’s executive vice president, Juan Arturo Tapia, stressed that with this conversion “Optima will be able to provide its customers with more financial products and services to meet their needs more effectively. In the same way, to continue focused on the growth of our credit portfolio in a sustainable, profitable and quality manner”.
For his part, the president of Banco Optima de Ahorro & Crédito, Víctor García Fadul, thanked the monetary authorities and the Superintendency of Banks for the support received during the conversion process, indicating that “the conversion of Optima to Banco de Ahorro y Crédito marks a milestone in the trajectory of the organization and an opportunity to continue consolidating itself in the national financial sector through a greater offer of financial products and services”.
