BHD Bank

The BHD Bank (also known as Banco Múltiple BHD, S.A ) is a private financial and mortgage bank in the Dominican Republic, founded by Samuel Conde and a group of entrepreneurs on July 24, 1972. Since then, it has formed numerous partnerships and acquisitions with other financial organizations in the country. The current president is Steven Puig. It is currently the second-largest private bank in the country, only behind Banco Popular Dominicano.

History
It was founded on July 24, 1972, as Banco Hipotecario Dominicano by Samuel Conde Sosa (deceased in 1988) and entrepreneurs Antonio Haché, José Antonio Caro Álvarez, Manuel Tavares Espaillat, Carlos Sully Fondeur, Sebastián Mera, and Juan Bautista Vicini.

Although today it is a multiple-purpose bank, it was initially founded as a mortgage bank with the purpose of developing the real estate market and housing.

In 1999, it established its first alliance with Banco Sabadell, and in 2000, it finalized a merger by absorption with Banco Fiduciario. In 2001, it formed an alliance with Banco Popular de Puerto Rico, and by 2006, it had acquired the personal business portfolio of Republic Bank. The following year, it purchased the loans and deposits of the corporate banking sector.

In 2008, the International Finance Corporation (IFC), a multilateral credit and investment organization of the World Bank Group, became involved as a shareholder and strategic partner of the BHD Financial Center.

In 2014, following a merger through share contribution between Banco Hipotecario Dominicano and Banco León, the BHD León Multiple Bank emerged. In March 2022, it was announced that the BHD León Multiple Bank would revert to being called Banco BHD. The change took effect on July 1, 2022.