SANTO DOMINGO. – The long and short-term national ratings of Motor Crédito, Banco de Ahorro y Crédito, A(dom) and F1(dom) remain a stable outlook, according to the rating firm Fitch Ratings.

The firm considered that the bank has a relevant position in the market, and that, despite concentrating on vehicle financing, it has a 12.8% share in the line (fourth position) as of May 2022.

The Monetary Board authorized Corporación de Crédito Reidco, S.A. to partially transfer its credit portfolio and deposits to Motor Crédito, S.A., Banco de Ahorro y Crédito, according to its third resolution of May 26, 2022, communicated to the parties on May 21 of June.