Credit Card outstanding receivables in Dominican Republic
As of the close of Q4 2023, the credit card market in the Dominican Republic boasts an impressive 3.5 million cards, marking an 18% increase compared to the annual closure in 2022. The quantity of transactions at Point of Sale (POS) terminals exhibited a notable year-on-year growth of 19%, reaching 160.1 million transactions, with a total volume equivalent to USD 7.984 million annually, reflecting a 17% increase.
In terms of market share growth, the ranking of competitors achieving the most significant advances in their market share, considering the credit card portfolio volume, positions Banco Vimenca at the forefront with a remarkable increase of +0.15% in market share. Following closely, BHD secured the second position with a nearly equivalent advancement of 0.14% in market share. Completing the top five leaders in this indicator are Banesco, APAP, and Popular.
Examining the volume of business, also considering the credit card portfolio at the annual closure, Banco Popular emerges as the market leader with a substantial 26.3% market share. It is followed by Banreservas with 20.2% and BHD with 16.2%. Scotiabank and Banco Santa Cruz complete the group of the top five leaders, collectively managing 79% of the market at the close of Q4 2023.
