The Banco de Reservas inaugurated a representative office in the Spanish capital as part of its internationalization strategy, which will allow the Dominican diaspora to manage banking services and financial advice related to possible investments and other business operations in their country of origin.
The general administrator of Banreservas, Samuel Pereyra, explained that “with this initiative, Banco de Reservas becomes the first and only Dominican bank with a presence in Spain, in addition to achieving progress in its internationalization and positioning outside our borders.”
He added that it would also promote the prosperity and well-being of all Dominicans in Madrid and elsewhere in Spain. Banreservas plans to open similar offices in New York, Miami, and Panama.
The representative offices will replicate all Banreservas services from where they are carried out. Still, the financial operations will be carried out in the Dominican Republic, making it possible to expedite and carry out banking procedures for Dominicans without traveling to their country.
The opening of the office in Madrid, located in the central avenue De la Castellana, close to the Dominican Consulate, is part of the program of activities carried out by Banreservas in the context of the International Tourism Fair, Fitur 2023, is held in this city from the 18th to the 22nd.
Pereyra explained that this office had trained personnel to offer advice to Dominicans residing in Spain regarding the sending of remittances, the acquisition of homes, and the proper management of their economic resources, through investments in our country.
He said that this representative office is especially relevant for Banreservas because Spain is the second nation with the most significant Dominican immigration, amounting to more than 187,345 compatriots, representing 16.5 percent of the entire Latin American diaspora.
The general administrator of the bank added that the new office would also advise Spanish investors interested in the Dominican Republic.
The event was attended by leaders of the Dominican community in Spain, executives from various tourism companies, hotel chain owners, and national and international journalists.