The Dominican Republic’s economic landscape is poised for significant evolution as Banreservas, the nation’s largest financial institution, embarks on a strategic new chapter under the leadership of its newly appointed CEO, Dr. Leonardo Aguilera. Assuming the helm in August 2025, Dr. Aguilera, an economist with a distinguished academic and professional background, including his recent tenure leading the Dominican Petroleum Refinery (Refidomsa), is steering Banreservas towards a future defined by enhanced digitalization, robust financial inclusion, and expanded international reach. His vision aims to solidify the bank’s pivotal role in driving national prosperity and fostering a more dynamic and accessible financial ecosystem for all Dominicans.
Banreservas has demonstrably accelerated its lending activities in recent years, a trend that has yielded tangible benefits for the Dominican economy. This increased credit availability has empowered a broad spectrum of economic actors, from multinational corporations to small and medium-sized enterprises (SMEs). By facilitating diversification of product offerings and enhancing operational efficiencies, these businesses have been better positioned to generate employment and elevate household incomes. Furthermore, the bank’s expertise in structuring tailored financing solutions has proven instrumental in attracting crucial foreign investment. In the vital tourism sector, a cornerstone of the Dominican economy, access to capital has been fundamental for the development of essential infrastructure. This includes the construction and expansion of hotels and resorts, the growth of airline and cruise port facilities, and the enhancement of transportation networks and tourist attractions. Beyond direct investment, this credit expansion has also fortified supply chains, with Banreservas actively financing suppliers and service providers integral to the tourism ecosystem, such as local food producers, artisans, and transportation services, thereby strengthening the entire economic fabric.
Consumer lending has also emerged as a significant catalyst for domestic economic activity, particularly in stimulating local tourism. By providing accessible financing for travel and leisure, Banreservas empowers individuals to explore and enjoy the country’s diverse offerings, generating positive ripple effects across the retail, hospitality, and agricultural sectors. The bank’s market leadership in credit cards underscores this impact, with an impressive 1.44 million credit cards and 3.77 million debit cards issued, representing a substantial year-over-year increase of 24.5 percent. This extensive card penetration not only facilitates consumer spending but also signifies a broader integration of individuals into the formal financial system. Moreover, Banreservas plays a critical role in the administration of social assistance programs, serving approximately 855,000 beneficiaries through its payment platform, and actively supports merchants through a variety of annual promotional initiatives, further embedding its services within the daily economic lives of Dominicans.
A core tenet of Dr. Aguilera’s strategy is the expansion of financial inclusion, with a particular emphasis on educational initiatives. The PUEDO program, a flagship collaboration with the Ministry of Education, represents a significant stride in this direction. This large-scale endeavor delivers essential financial literacy education to public school students, having already reached 4,300 students in 17 public schools across several provinces, targeting those in their final years of primary and secondary education. The program’s ambitious expansion plans aim to encompass thousands more institutions, extending its reach to over 7,800 schools nationwide and providing vital training for educators. Early engagement with students, such as a recent event involving over 1,000 students from the southern region, has highlighted a profound enthusiasm for learning about prudent money management, the importance of emergency savings, and long-term financial planning. Complementing these efforts is the "Banking is the Nation" program, which has successfully integrated more than 900,000 Dominicans, many from vulnerable communities, into the formal financial system. This program cleverly combines digital account access, the disbursement of government payrolls, and the distribution of social subsidies, all supported by over 4,000 financial literacy workshops.
Recognizing the significant economic contribution of the Dominican diaspora, Banreservas is actively pursuing an internationalization strategy to enhance financial service access for citizens living abroad. The approximately 2.5 million Dominicans residing in the United States and Europe represent a vital economic force, channeling over $10 billion in remittances annually, a critical source of foreign currency for the national economy. The establishment of representative offices in Madrid, New York, and Miami marks a historic achievement, making Banreservas the first Dominican bank with a physical presence in both Spain and the United States, fulfilling a key commitment from President Luis Abinader. These international outposts have already demonstrated substantial impact, serving over 60,000 clients, facilitating more than 25,000 savings account openings, and processing mortgage applications valued at over RD$3 billion. The immediate focus is on consolidating this international footprint and offering enhanced engagement opportunities for Dominicans abroad. Through participation in international real estate fairs held in key diaspora hubs like New York, Lawrence, and Madrid in 2024 and 2025, Banreservas has showcased a diverse portfolio of Dominican residential projects. By partnering with leading developers and real estate agents, the bank provides personalized guidance, preferential financing options, and the reassurance of institutional support in their adopted communities. This approach reframes the role of Dominicans abroad from mere remittance senders to active participants in national development. Future initiatives will include the development of advanced digital solutions enabling seamless remote management of their complete financial lives, reinforcing the bank’s commitment to its diaspora and aligning with presidential objectives.
Looking ahead to 2030, Banreservas has articulated a clear strategic roadmap centered on three paramount priorities. The first is the deepening of its digital transformation. This involves the continuous expansion of digital capabilities to deliver faster, more secure, and highly personalized solutions for both corporate and retail clients. Key areas of focus include the optimization of payment platforms, sophisticated cash management tools, and innovative financing services, all underpinned by a relentless pursuit of superior user experience and regional interoperability. The second priority is the optimization of capital to fuel innovation and expansion. Following a significant capital increase authorized by Law 13-24, Banreservas is now in a substantially strengthened financial position. This enhanced capital base will be strategically deployed to accelerate technological innovation, expand banking infrastructure, and enhance its suite of transactional products. Investments will be directed towards bolstering cybersecurity defenses, implementing process automation, developing new digital channels, and strategically expanding into key regional markets. The third, and equally crucial, priority is the broad expansion of financial inclusion. Banreservas will intensify its efforts in underserved communities by integrating accessible digital solutions and forging strategic partnerships to extend the reach of its transactional services. The bank will continue to develop specialized products designed to foster the growth of micro and small businesses, facilitating their access to credit, modern payment methods, and essential financial tools that enhance their sustainability and competitiveness.
In September 2025, Banreservas announced a significant allocation of RD$7 billion earmarked for financing national productive sectors at preferential interest rates. This substantial fund is strategically directed towards the nation’s most critical economic sectors, including construction, commerce, manufacturing, exports, healthcare, and agriculture, aiming to stimulate growth and enhance productivity across these vital industries.
The CREE program, an initiative dedicated to supporting entrepreneurs and innovative projects, has channeled over RD$72 million in equity investments since its inception in 2015. Under Dr. Aguilera’s leadership, CREE is poised to maintain its role as Banreservas’ flagship initiative for fostering innovation. By integrating equity investment with specialized mentorship, the program makes a significant contribution to national socioeconomic development. The vision is to broaden CREE’s reach, supporting a greater number of founders at both the early and growth stages of their ventures, while simultaneously strengthening their business models. The overarching objective is to solidify CREE’s position as a powerful engine of innovation, transforming nascent ideas into high-impact projects that address pressing social and economic challenges and contribute to building a more prosperous future for all Dominicans.
Beyond the CREE program, Banreservas remains steadfast in its commitment to supporting entrepreneurs and SMEs through its Fomenta Pymes initiative. This program offers flexible financing options, invaluable technical advice, and specialized support aimed at strengthening the management capabilities and overall competitiveness of SMEs. Fomenta Pymes facilitates crucial access to credit, provides essential training tools, and connects entrepreneurs with vital support networks, thereby empowering businesses to achieve sustainable growth, create meaningful employment opportunities, and invigorate local economies.
The digitalization of banking services at Banreservas is progressing rapidly, with ambitious objectives set for the next five years. The recent launch of the TuBanco Personas platform has modernized online banking for individuals, delivering a faster, more intuitive, and significantly more secure user experience. The AI-powered virtual assistant, Alma, has rapidly become a pivotal self-service channel, effectively managing customer inquiries and transactions. The Personas app has undergone a comprehensive redesign, granting customers enhanced autonomy in managing a wide array of products, including accounts, time deposits, cards, and loans. The Banreservas MIO Digital Account has been instrumental in expanding financial access for traditionally underserved segments, while the digital onboarding process allows new customers to establish accounts without the necessity of in-person visits. Furthermore, the Banreservas Wallet complements established mobile payment systems like Apple Pay and Google Pay, offering expanded contactless payment options.
For business clients, Banreservas has implemented sophisticated solutions designed to optimize cash management and digital transactions. These include Automated Deposit Vaults and a direct interconnection platform with corporate ERP systems, which enables the automatic reconciliation of high volumes of transactions. The bank also offers a Digital Token for businesses, a modern authentication solution for digital channels that replaces less secure physical devices with a more robust and efficient alternative, fully aligned with international cybersecurity standards. Collectively, these initiatives solidify Banreservas’ leadership position within the financial sector.
The digitalization strategy for the upcoming five years is structured around four core pillars. Firstly, achieving 100 percent digital onboarding and services, ensuring that both individuals and businesses can seamlessly open, manage, and close financial products entirely through digital channels, fortified by advanced biometrics and stringent security controls. Secondly, implementing AI-powered hyper-personalization, leveraging artificial intelligence and sophisticated data analytics to deliver financial solutions that are not only contextual but also proactive, anticipating customer needs. Thirdly, focusing on cloud scalability and resilience, consolidating migration to cloud platforms to enhance agility in responding to regulatory changes, managing demand spikes, and accelerating new product launches. Fourthly, expanding into digital ecosystems and Banking-as-a-Service (BaaS), deepening partnerships with fintech companies, other businesses, and government entities through BaaS models that foster innovation and self-service capabilities. Through this comprehensive roadmap, Banreservas is not merely modernizing its digital channels but is actively redefining the fundamental ways in which customers interact with financial services, placing innovation, accessibility, and inclusion at the very heart of its strategic vision.
