Banco Popular Dominicano celebrated its annual ordinary general shareholders assembly on Thursday, October 20, 2005, during which several financial measures were discussed and approved, the first of them being to increase the capital paid to the sum of RD$933.3 millions. With this increase the capital paid by the bank will increase by RD$6,000.2 millions, placing the bank as the institution with mayor capital payment within the Dominican Republic.
This measure was approved predicting an increment in growth of the bank, as well as its concentration on financial and banking operations, strategy within which expansion projects are being contemplated and elaborated for the upcoming year, 2006.
Last week, Banco Popular officially released its excellent financial results for the closing of this years’ third trimester representing a growth of its total assets of RD$4,134 millions and net utilities of RD$1,210.5 millions.
During the annual ordinary general shareholders meeting, it was also approved to modify Banco Popular Dominicano, C. por A., social parameters with the intention of agregating the term (“Múltiple”), so as to conform to the rules imposed upon by the Monetary and Financial Authorities for the Opening and Operation of Organizations of Financial Intermediation and Representing Offices.
To that end, the shareholders resolved to approve the social parameters as “Banco Popular Dominicano, C. por A. - Banco Múltiple” for the institution.
The shareholders meeting was directed by the Board of Directors, which holds as its president Manuel A. Grullón, as vice president Marino D. Espinal, as secretary Dr. Práxedes Castillo P. and as members Mr. Andrés Avelino Abreu, Osián T. Abreu, Salustiano Acebal, J. Armando Bermúdez, Adriano Bordas, Alejandro E. Grullón E., in representation of Grupo Popular, S.A., Noris Perelló Abreu, Pedro A. Rodríguez and Manuel E. Tavares S.