Banco Popular Dominicano

Banco Popular Dominicano, S.A. - Banco Múltiple
Banco Popular Dominicano (BPD)
Native name
Banco Popular Dominicano, S.A. - Banco Múltiple
TypeSubsidiary
IndustryFinancial services
Founded1963 (1963)
FounderAlejandro Grullón
Headquarters18°28′53″N 69°54′47″W / 18.481369°N 69.912991°W / 18.481369; -69.912991
Avenida John F. Kennedy 20, Miraflores, Santo Domingo, Distrito Nacional,
Dominican Republic
Number of locations
Area served
Dominican Republic
Key people
Christopher Paniagua
(Executive President)
Products
Total assetsIncrease RD$876,933.18 million (≈ US$13.92 billion) (August 2025)
Number of employees
~8,162 (August 2025)
ParentGrupo Popular S.A.
Websitepopularenlinea.com
(in Spanish)
Footnotes
[1][2]

Banco Popular Dominicano, S.A. - Banco Múltiple, trading as Banco Popular Dominicano (BPD), is a bank providing retail and commercial banking services;[3] it was the largest lender in the Dominican Republic until 2023, when it was narrowly overtaken by Banreservas.[4] It is a wholly-owned subsidiary of the financial conglomerate Grupo Popular, S.A.[5] The company, which is known in the Dominican Republic as Banco Popular, has over 6,800 employees, three million customers, a credit portfolio of 3.7 million dollars, and 6.1 million dollars in assets as of 2014.[6] It was chosen in 2021 by Global Finance magazine as the best private banking company in the Dominican Republic,[7] and the financial magazine The Banker included Banco Popular in its list of 1,000 best banks in the world, placing it in the 739th spot in 2023.[8] The bank's current chairman is Christopher Paniagua.[9]

History

Banco Popular's parent company, Grupo Popular, S.A., was founded in Panama in 1963,[10] by Dominican banker Alejandro Grullón. It was then constituted under the laws of the Dominican Republic the following year.[5] Alejandro Grullón served as chairman of the parent company during its first 25 years.[11]

In 1990, Grullon's son, Manuel Alejandro Grullón, was elected chairman of Banco Popular, and in 2001 he also became the executive president of the Bank's parent company Grupo Popular.[11] Forbes has placed Manuel Alejandro Grullón on its list of richest Dominicans.[6]

In 1998, Banco Popular Dominicano founded a television channel, CDN 37.[12]

On September 3, 2019, Banco Popular Dominicano became a signatory of the United Nations Environment Programme Finance Initiative.[13]

Competitors

As of 2024, the bank's main competitors in the Dominican Republic include Banreservas, BHD Bank, Scotiabank Dominican Republic, and Banco Santa Cruz.[4]

See also

References

  1. 1 2 3 "Banco Popular Dominicano, S. A. – Banco Múltiple". Superintendencia de Bancos de la República Dominicana (in Spanish). Retrieved 2026-05-08.
  2. ↑ "Informe de Gestión Anual 2023" (in Spanish). popularenlinea.com.
  3. ↑ "Banco Popular 'will continue to bet on a greater digitisation of our clients'". World Finance. Retrieved 2026-05-08.
  4. 1 2 "The top five banks in the Dominican Republic". www.thebanker.com. Retrieved 2026-05-17.
  5. 1 2 "Background – Popular Bank – Sitio Informativo". Retrieved 2026-05-17.
  6. 1 2 Staff, Forbes (2015-04-21). "Los empresarios más ricos de República Dominicana". Forbes México (in Spanish). Retrieved 2026-05-17.
  7. ↑ "Banco Popular is chosen as the best private bank in the country".
  8. ↑ "Popular entre los 1,000 mejores del mundo". eldia.com.do (in Spanish). 2023-08-24. Retrieved 2026-05-17.
  9. ↑ "Ejecutivos del Banco Popular, liderados por Christopher Paniagua, visitan Noticias SIN". Noticias SIN (in Spanish). 2026-05-16. Retrieved 2026-05-17.
  10. ↑ "El día que fue inaugurado el Banco Popular Dominicano". Diario Dominicano (in Spanish). 2014-08-23. Archived from the original on 2017-12-30. Retrieved 2026-05-08.
  11. 1 2 "Don Alejandro Grullón le pasa la antorcha a su hijo Manuel en el Banco Popular" (in European Spanish). 2014-04-27. Archived from the original on 2015-02-02. Retrieved 2026-05-17.
  12. ↑ Reyes, Maxwell (2018-11-22). "CDN Canal 37: Pionero en la transmisión de noticias en RD". noticia.do (in Spanish). Retrieved 2026-05-17.
  13. ↑ "Banco Popular Dominicano". United Nations Environment – Finance Initiative. Retrieved 2026-05-17.
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