The Banco León (Léon Bank) was a banking company in the Dominican Republic, which was formally introduced at a ceremony attended by former Dominican

President President most commonly refers to: *President (corporate title) *President (education), a leader of a college or university *President (government title) President may also refer to: Automobiles * Nissan President, a 1966–2010 Japanese ful ...

Hipólito Mejía Rafael Hipólito Mejía Domínguez (born 22 February 1941) is a Dominican politician who served as President of the Dominican Republic from 2000 to 2004. During his presidential term in office the country was affected by one of its worst econ ...

on December 2, 2003. The bank represents a union between the Banco Profesional and Banco Nacional de Credito (Bancredito). The Léon Jimenes family, which controls the León Jimenez Group, Ltd is better known for its distribution in the Dominican Republic of

Marlboro Marlboro (, ) is an American brand of cigarettes, currently owned and manufactured by Philip Morris USA (a branch of Altria) within the United States and by Philip Morris International (now separate from Altria) outside the US. The largest Marl ...

cigarettes, as well as for their Aurora

cigars A cigar is a rolled bundle of dried and fermented tobacco leaves made to be smoked. Cigars are produced in a variety of sizes and shapes. Since the 20th century, almost all cigars are made of three distinct components: the filler, the binder le ...

and Presidente beer brands operations. The current president of the bank is Mr. Carlos Guillermo León, and its corporate headquarters are in

Santo Domingo, Dominican Republic , total_type = Total , population_density_km2 = auto , timezone = AST (UTC −4) , area_code_type = Area codes , area_code = 809, 829, 849 , postal_code_type = Postal codes , postal_code = 10100–10699 ( Distrito Nacional) , webs ...

Financial performance from 2004 to 2005

From its beginnings the bank has embarked on a process of reconstruction with the goal of improving the financial situation of Bancrédito at the time of the acquisition. Net profits for 2005 amounted to RD$151.8 million, 37,9% more than 2004. Banco León operates 75 branches and 176

automatic teller machine An automated teller machine (ATM) or cash machine (in British English) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, fund ...

s throughout the country. Consolidation of credit card operations, among other initiatives, generated the reduction of administrative expenses in excess of RD$100 million from 2004 to 2005 and the conversion of more than RD$5,000 million worth of unproductive

assets In financial accountancy, financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything (tangible or intangible) that can be used to produce positive economic value. Assets represent value ...

into productive ones. According to the 2005

financial statement Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form which is easy to un ...

, the

profit margin Profit margin is a measure of profitability. It is calculated by finding the profit as a percentage of the revenue. \text = = There are 3 types of profit margins: gross profit margin, operating profit margin and net profit margin. * Gross Prof ...

for the year was RD$697,9 million, 130% more than in 2004. Loans increased to RD$12,299 million, an increase of 30.6% since 2004. Capital reserves reached RD$1,668 million, a 10.4% increase with respect to 2004. Total deposits increased to RD$19,967 million, an increase of 4,1%, and a liquidity ratio of 39%, very superior to the required bank reserve of 20 percent.

Activities

In an effort to obtain greater efficiency, during the 2005 Banco León consolidated

credit card A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt (i.e., promise to the card issuer to pay them for the amounts plus the o ...

operations with those of the bank, relocated automatic branches and tellers to strategic locations and unified service centers. During February 2004 Banco León announced that it has now made available for commercial and personal clients a service by which property taxes can be paid to the Internal Taxes Agency from any locality via their

Internet The Internet (or internet) is the global system of interconnected computer networks that uses the Internet protocol suite (TCP/IP) to communicate between networks and devices. It is a '' network of networks'' that consists of private, pub ...

banking service. Recently, the Exchange Superintendence of the Dominican Republic announced on March 25, 2006, its approval for Banco Léon to issue public bonds for a total of RD$306 million. The recently approved bonds for Banco Leon were the first of 2006, with the offer mainly being addressed to

institutional investors An institutional investor is an entity which pools money to purchase securities, real property, and other investment assets or originate loans. Institutional investors include commercial banks, central banks, credit unions, government-linked co ...

pension funds A pension fund, also known as a superannuation fund in some countries, is any plan, fund, or scheme which provides retirement income. Pension funds typically have large amounts of money to invest and are the major investors in listed and priva ...

and

insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...

companies.''Ibid'', March 15, 2006

References

External links

Banco León
{{DEFAULTSORT:Banco Leon Banks of the Dominican Republic Brands of the Dominican Republic

Financial performance from 2004 to 2005

Activities

See also

References

External links